Shares of European-based bio-pharma company MGC Pharmaceuticals (LON: MXC) are creeping higher Monday on news the Israeli Ministry of Health has approved the dosing study for CimetrA, the company’s proprietary treatment for the effects of COVID-19.
The study will determine the most effective combinations of the ingredients for dosage and further validate the anti-inflammatory and immune-modulatory effects of CimetrA.
240 patients will be recruited to the study across Israel, the USA, South Africa, and Russia.
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MGC, which specialises in the production and development of phytomedicines, said that completing the dosage study is the next phase in moving CimetrA towards marketing authorisation as a registered medicine.
Roby Zomer, Co-founder and Managing Director of MGC Pharma, said: “This latest dosage study is the latest step as we move closer to being in a position to apply for marketing authorisation for CimetrA in territories across the globe.
“We believe that CimetrA will prove to be a vitally important drug in the treatment of COVID-19 going forward, and look forward to sharing the results of the study in due course.”
MGC Pharma’s London-listed shares are up a modest 0.2% at 2.58p at the time of writing.
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