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MGC Pharmaceuticals (MXC) Shares Gain As Phase 3 CimetrA Trial Begins

Updated: 12 Jul 2021

MGC Pharmaceuticals (LON: MXC) said the phase 3 clinical trial to evaluate the efficacy and safety of CimetrA as a treatment for hospitalised patients diagnosed with COVID-19 has now commenced following the recruitment of the first patient.

The company's co-founder and managing director, Roby Zomer, said the trial commencing “is a milestone for both MGC Pharma and the medicinal cannabis industry.”

In total, 252 patients will be enrolled in the double-blind placebo-controlled clinical trial following the CimetrA Investigational Medicinal Product (IMP) production, validation, and ethics committee approval.

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The study's results will also be submitted to the European Medicines Agency (EMA).

“Testing CimetrA™ as an IMP will have great implications for those suffering with COVID-19 and ensure the risk of healthcare systems becoming overwhelmed is minimised,” said Zomer.

MGC Pharmaceuticals share price is up 2..3% at 2.14p following today's news.

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