MGC in bid to tap Russian medicine market

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MGC Pharmaceuticals’ continued success in clinical trial tests on COVID-19 patients has seen the company take a significant step towards having its natural supplement “ArtemiC” registered as a medicine in Russia. The anti-inflammatory product has emerged as a serious contender in the global race to find an effective and safe treatment for the virus.

Interim results from MGC Pharma’s phase 2 clinical trial in Israel that is currently evaluating the effects of ArtemiC on 10 Coronavirus patients showed significant improvement in the patients, with no adverse events or pain suffered and no intensive care or ventilation required.

Russia has been facing a particularly tough battle with the pandemic’s spread as its COVID-19 cases approach the one million mark – the fourth highest total number of recorded cases behind the US, Brazil and Mexico.

MGC Pharma has this month entered into an agreement with Russian doctor and medical researcher Svetlana Kopachevskaja and associated investment partners to set up a joint venture company to facilitate the registration of ArtemiC as a medicine in the Russian and neighbouring state markets – known as the Commonwealth of Independent States (CIS).

MGC Pharma will own a 70 per cent interest in the JV and the leading Russian doctors and investment partners involved will hold the balance.

According to the company, Dr Kopachevskaja is well-known in Russian medical circles and has years of experience in the production, development and registration of oncological medications having also played a key role in registering new and innovative medicines.

MGC Pharma says she and her colleagues will manage the JV company, which will initially focus on registering ArtemiC in Russia as a medicine, and the distribution of ArtemiC will be handled by current MGC Pharma distributor, Israeli medical products distribution company KS Kim, part of the global SK-Pharma group.

The JV arrangement, which also includes the proposed registration of 15 MGC Pharma formulations and generic oncology medicines, is contingent on the successful completion of the current phase 2a ArtemiC human clinical trial, with results due out in October or November.

ArtemiC – which contains the ingredients Artemisinin, Curcumin, Boswellia serrata and Vitamin C – is designed to target viral infections with inflammatory complications.

In the event ArtemiC continues to demonstrate positive clinical outcomes on infected patients, MGC Pharma will then be eligible to proceed with the registration of ArtemiC as a medicine in Russia.

Importantly, the company expects the registration process to be fast-tracked, taking only nine to 12 months – due to the Coronavirus crisis – rather than the normal five to eight years for most medicines.

Russia is an extremely large market and is still reporting very high numbers of COVID-19 infections. Importantly, our time to market for ArtemiC in Russia can be reduced significantly via the fast-track process.

The company also looks forward to working with Dr Kopachevskaja and her team for the development and registration of MGC Pharma formulations and generic oncologic medicines.

NB: This article is for general financial markets news purposes only and is not to be taken as an endorsement of, or advertisement for any individual product, medicine, or drug.

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