ASX-listed MGC Pharmaceuticals has moved a step closer to full commercialisation of its cannabis-based dermatological products, with the company commencing human clinical trials of its unique skin care range.
MGC said in an update to the market this week that clinical tests in Slovenia had started on human volunteers to determine the effectiveness of the products which are aimed at relieving symptoms of acne, seborrhoea and psoriasis.
In what would amount to a potentially lucrative second revenue stream in addition to MGC’s cannabidiol-based cosmetic range, the company said it planned to start commercial sales of the dermatological line in the September quarter.
MGC plans to market the product range through its international distribution network and via select retail outlets and pharmacy chains and the MGC Derma online portal.
Managing director Nativ Segev said: “Following the completion of our 3-month efficacy test on human volunteers, we look forward to commencing our second revenue stream – the sale of a dermatological product range.
“These products have the potential to bring relief of redness, dryness, flaky and oily indication in skin prone to acne, psoriasis and seborrhoea and presents a significant commercial opportunity for MGC Pharmaceuticals.”
The company has already achieved European and US revenue flows from its cannabis based cosmetic line and the commencement of sales of the dermatological range would be another big boost for the Perth-listed company, which has Israeli executives.
MGC, which has both a traditional medical cannabis research program and a cannabis based skin care arm, produces products that contain a non-psychoactive component of cannabis that in pre-clinical trials has been shown to have therapeutically beneficial effects according to the company.
By Matt Birney
