SYDNEY: MGC Pharmaceuticals, a European based bio-pharma company specialising in the production and development of phytomedicines, announced a partnership with HempStreet, India’s first research to retail venture in the medicinal cannabis sector.
Headquartered in the UK, MGC Pharma has been working on polyherbal formulations based on cannabis and other phytopharmaceuticals. MGC Pharma has two proprietary formulations CimetrA™ and CannEpil©.
CimetrA™ is effective in arresting the cytokine storm, a symptom of COVID-19. It is made of natural-sourced ingredients including Artemisinin, Curcumin, and Boswellia serrata. CannEpil© is a phytocannabinoid-based medicine that effectively treats drug-resistant Epilepsy. Both products have undergone successful Phase II clinical trials.
Through this partnership, and through HempStreet’s extensive distribution reach and key institutional partnerships, Indian patients will now have access to these medicines, starting with CimetrA™, which had an immediate need as there are currently over 15 million individuals (approximately 30% of all Covid-19 recoverees in India) said to be experiencing some form of post- or long- Covid- 19 related symptoms.
The partnership will also accelerate HempStreet’s upcoming venture – transdermal delivery technology for cannabinoids – to launch in the markets beyond Asia with the help of MGC Pharma’s widespread distribution network in Australia, the UK, Brazil, and Ireland.
Commenting on the partnership, Abhishek Mohan, Co-founder of HempStreet, said: “We are very excited to work with Roby and the team at MGC Pharma, bringing cutting-edge, scientifically-validated phytopharmaceutical medicines to tackle mass ailments in India and beyond. In particular, CimetrA™, which has shown a 100% success rate in Phase II clinical trials in India, will be an important product just on account of the fact that an estimated 15 million individuals are experiencing some sort of Post Covid-19 / Long Covid symptoms.
Further, Roby Zomer, Co-founder, MGC Pharma, said: “Entry into significant global markets such as India is paramount to MGC Pharma’s agenda, advancing phytomedicine adoption globally. India has a long-established and government-supported Ayurvedic healthcare system, and working with HempStreet to facilitate access to our proprietary phytomedicines such as CimetrA™ and CannEpil© and the new formulations on the pipeline, is crucial to gaining a foothold in this market.”
MGC Pharma is leaving its mark in the global medical cannabis industry by developing and supplying top-quality phytocannabinoid medicines in Europe, North America, and Australasia. This partnership is a significant step for MGC Pharma to tap into the Asian market while helping HempStreet expand its global footprint.
Together with MGC Pharma, HempStreet is committed to bring well-researched, highly efficient, and responsibly-dispensed phytomedicines to tackle mass ailments faced by people worldwide. With this partnership, HempStreet aims to combine the R&D and distribution strengths of both companies to improve the quality of life for hundreds of millions of people.
HempStreet is India’s first research to retail medicinal cannabis venture, working towards amalgamating the age-old science of Ayurveda with modern cannabis research to develop sustainable and economical solutions for mass ailments.
The Company ensures end-to-end blockchain technology-based supply chain tracking to minimise any chance of abuse. HempStreet’s dispensation network of more than 9,500 registered medical practitioners across 24 states of India is a testament to the efficacy of the formulations and the trust of medical practitioners in the brand. The company recently became India’s first medicinal cannabis venture to have been awarded the prestigious Biotechnology Ignition Grant (BIG) of BIRAC.