MGC Pharmaceuticals Ltd (ASX:MXC) (LON:MXC) (OTCMKTS:MGCLF) director and Corporate Governance Committees chairman Dr Stephen B Parker has shown his support for the company’s ‘Nature to Medicine’ strategy, including the ArtemiC product, with an on-market purchase.
On March 5 Parker acquired 282,316 shares in an indirect interest for total consideration of £9,999.99 and this represented his first purchase.
The ArtemiC food supplement works as an anti-inflammatory and has been shown to reduce and prevent the cytokine storms seen in the worst affected COVID-19 patients.
ArtemiC distribution agreement
The company’s distributor Swiss PharmaCan recently increased its initial order volume for ArtemiC Rescue, an anti-inflammatory product targeting COVID-19, by 85%.
MGC Pharma has stated that it has sufficient production capacity to fulfil the first delivery, which is worth around US$425,000.
Swiss PharmaCan has exclusivity to distribute ArtemiC worldwide, with specific focus on countries currently reporting high numbers of coronavirus (COVID-19) cases.
The master agreement includes a minimum wholesale order quantity of 40,000 units per quarter.
Phase II trial results
ArtemiC has proven itself in a phase II clinical trial where it was shown to prevent deterioration of COVID-19 patients and help them achieve faster clinical improvement.
The product contains four ingredients; Artemisinin, Curcumin, Boswellia serrata, and Vitamin C, and has been found to be safe with no adverse drug events.