MGC beefs up epilepsy expertise
Published 13-JUL-2016 16:40 P.M.
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2 minute read
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MGC Pharmaceutical (ASX:MXC) has added intellectual weight to its fight against severe epilepsy as it ramps up stakeholder engagement with a focus on medical cannabis’ role in combating the disease.
It told its shareholders this morning that Israeli-bases Dr Uri Kramer has joined the company as a member of its strategic advisory board – which will guide the company on establishing clinical trials using medical cannabis in the treatment of severe epilepsy.
Dr Kramer is a highly regarded expert in the field of paediatric neurology and paediatric epilepsy — and he’ll join Australian cardiologist Dr Ross Walker on the design of trials and product development.
MXC has focused its pharmaceutical efforts on treating epilepsy, entering into a research agreement with SipNose back in March, with the agreement around the development of a cannabinol (CBD)-based treatment to be delivered through the Sipnose device.
The pair have set up in the Hadassah Medical Centre in Israel – but the signing of Dr Kramer further demonstrates its pharmaceutical intent.
MXC also has a line of CBD-based cosmetic products in the market which helps deliver underlying revenue to the company.
These include facial creams, eye serums, soaps, toners, and cleansing milks with compounds derived from medical cannabis.
On the lobbying front
MXC has stepped up its lobbying effort in Australia in an effort to allow the company to conduct clinical trials and ultimately have something of a first-mover advantage in the country.
It has previously teamed up with the University of Sydney to study the market potential of the Australian medical cannabis market – with a white paper finding that it was a $150 million opportunity.
A series of both state and federal moves on the relaxation of restrictive regulations around medical cannabis has opened the doors for medical cannabis players such as MXC to potential make a market entry.
It should be noted that regulations are not set in stone and are able to be changed – investors should seek independent advice before deciding whether or not to invest.
The appointment of Dr Kramer will help establish its credentials in the Australian market and elsewhere as a market-leader in the use of medical cannabis to treat epilepsy.
MXC said that it had started the stakeholder engagement process, including talks with state and federal governments, medical professionals, academics, and other industry participants.
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