LONDON: MGC Pharmaceuticals Ltd a European based bio-pharma company specialising in the production and development of phytomedicines, has signed an exclusive distribution agreement with Sciensus Rare, a part of UK health care group, Sciensus, for the distribution of CannEpil® and CogniCann® in key European territories and the UK.
Sciensus Rare is an international pharmaceutical services company based in the Netherlands, specialising in the provision of rare disease medicines through decentralised clinical trials, medical early access programs and licensed distribution programs, with over 30-year of experience in providing health care services, and expanding medical access for products in Europe.
Under the terms of the distribution agreement, Sciensus Rare has been appointed the exclusive distributor of CannEpil® and CogniCann® in Denmark, France, Italy, Spain, Luxembourg, and the United Kingdom, some of the most advanced pharmaceutical markets in the world, for an initial 4-year term. After the initial 12 months of the agreement, Sciensus Rare will be subject to minimum purchase order requirements to maintain its exclusive distributor status. The Parties have agreed that MGC Pharma will continue to be responsible for seeking Market Authorisation in these territories, while Sciensus Rare will be responsible for applications to Early Access Programmes and Named Patient Programmes.
CannEpil® is a phytocannabinoid derived Investigational Medicinal Product designed to treat Drug Resistant Epilepsy with a high CBD, low THC formula, and was made available for distribution and prescription in Ireland in 2019 as part of the Ireland’s Medical Cannabis Access Programme. A research report prepared by Alacrita, a life sciences consulting company, suggested potential market in the agreement territories of 120,000 adults and children suffering from refractory epilepsy.
CogniCann® is a phytocannabinoid derived Investigational Medicinal Product designed to treat patients with Dementia and Alzheimer’s disease, and is undergoing a Phase II clinical trial at the University of Notre Dame in Perth, Western Australia, which has been designed to evaluate the potential behavioural benefits of CogniCann® on patients suffering from these ailments.
Roby Zomer, Managing Director and CEO of MGC Pharma, commented: “Sciensus Rare is an excellent pharmaceutical service company, with the experience and expertise necessary to increase clinical access for both CannEpil® and CogniCann® to those patients who are most in need.
This is another important step in widening patient access to our pharmaceutical products, and puts in place a long term plan to build the distribution networks required in Western Europe, one of the most important pharmaceutical markets in the world.”
Gareth Williams, President of Sciensus Rare, commented: “We are extremely pleased to be working in partnership with MGC Pharmaceuticals within the exciting global medical cannabis market and look forward to supporting clinicians with access to both CannEpil® and CogniCann®.”
MGC Pharmaceuticals Ltd (LSE: MXC, ASX: MXC) is a European based bio-pharma company developing and supplying affordable standardised phytomedicines to patients globally.