Business
GraftBio - MGC Pharma Update
GraftBio - MGC Pharma Update.
About this update from Solvonis Therapeutics Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n 21 March 2023\n \n \n LSE Code: GPL\n \n \n \n \n Graft Polymer (UK) Plc\n \n \n ('Graft Polymer', the 'Company', and together with its subsidiaries, the 'Group')\n \n \n \n \n \n GraftBio - MGC Pharma Update\n \n \n OTC Drug listing in the USA Further Endorses GraftBio's® Drug Delivery System\n \n \n \n \n \n \n \n \n \n Graft Polymer (UK) Plc, a business focused on the development and commercial production of modified polymer solutions including additives, alloys, synthesis, and drug delivery systems, is pleased to note the announcement by MCG Pharmaceuticals Ltd (\n LSE:MXC, ASX:MXC,\n 'MCG Pharma') on 21 March 2023, further reinforcing the importance and acceptance of Graft Polymer's drug delivery systems.\n \n \n \n \n \n MGC Pharma's ArtemiC™ proprietary clinically tested COVID 19 treatment, which uses the Company's GraftBio® divisions drug delivery systems, has been listed as an over-the-counter ('OTC') drug on the US Food and Drug Administration's National Drug Code Database ('NDC'), facilitated by MGC Pharma's supply and US based distribution partner, AMC Pharma, LLC ('AMC').\n \n \n \n \n \n This listing on the NDC further endorses the importance of GraftBio®'s drug delivery systems in pharmaceutical products.\n \n \n \n \n \n The OTC status means that AMC will be able to sell ArtemiC™ via US-based Pharmacy Benefit Management ('PBM') networks, including prescription discount services, from April 2023. AMC are negotiating with the largest US Pharmacy networks, and independent pharmacies for the inclusion of ArtemiC™ in shelf space now that the NDC has been listed. This nation-wide availability across the USA will increase retail access and subsequent sales, and the purchase order from AMC to MGC Pharma of ArtemiC™ for delivery in Q3 and Q4 2023 therefore requires the continued manufacturing input from Graft Polymer.\n \n \n \n \n \n The full announcement by MGC Pharma can be found at https://mgcpharma.co.uk/investors/lse\n \n \n \n \n \n \n Commenting on MGC Pharma's update, Victor Bolduev, CEO, commented:\n \n \n \n \n \n \n \n \n \n 'This is a major milestone for MGC Pharma and the NDC listing for\n \n over-the-counter sales of ArtemiC™ provides significant access to the largest healthcare market in the world. The order from their US b...