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MGC Pharma receives approval for dementia trial
2 minute read
MGC Pharmaceuticals (ASX:MXC) is one step closer to trialling its promising GMP certified CogniCannTM formulation on patients with mild dementia and Alzheimer’s.
The company, in partnership with the Institute for Health Research at the University of Note Dame (UNDA) in WA, has received Human Research Ethics Committee (HREC) approval to conduct a Phase two clinical trial utilising its CogniCannTM compound.
CogniCannTM features a THC:CBD ratio specifically formulated for the treatment of key dementia symptoms.
The 16 week trial will be overseen by the University’s Institute for Health Research and is projected to commence in early 2019.
The trial will utilise randomised, double-blind, crossover and placebo-control design to observe the behavioural changes and quality of life in patients living in residential aged care homes.
A total of 50 WA patients aged 65 years and older will partake in the CogniCannTM trial, alongside a series of pre and post treatment surveys to assess residential staff and family member’s perception towards the use of the treatment.
The trial has been designed by MXC’s expert Medical Advisory Board led by Professor Uri Kramer and the research team at UNDA, an institution where health and medical research have been rated as ‘above world standard’.
Upon completion of the trial, MXC will possess all IP and results, with the researchers to acquire a worldwide non-exclusive royalty free licence to use the project’s IP for non-commercial research (including research publications).
Of course, it should be noted here that MXC is still in its early stages and anything can happen, so investors should seek professional financial advice if considering this stock for their portfolio.
The impending commencement of the trial is another milestone for MXC, which is well on track to becoming a bio-pharmaceutical company boasting a plethora of medicinal cannabis formulations for a wide range of treatments.
The company’s extensive range of GMP certified pharmaceuticals are engineered and produced within its EU facility, facilitating a seed-to-pharma business model.
MXC Co-founder and Managing Director Roby Zomer commented on the trial’s approval, “We are pleased to have received ethics approval for our Phase II clinical trial assessing the effects of our medicinal cannabis medicine, CogniCannTM on patients with mild dementia and are excited to start working with the superior team of researchers at the University of Notre Dame.
“We are building strong relationships in the medical research industry and see this as taking the next step in our strategic growth and development of our seed-to-pharma capabilities,” he said.