MGC Pharmaceuticals shares boosted by latest ArtemiC results in COVID-19 study

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MGC Pharmaceuticals Ltd (LON:MXC, ASX:MXC) has announced the results of a Phase II clinical and preclinical studies on ArtemiC and its use in relation to COVID-19.

The company noted that the studies evaluated the efficacy of ArtemiC on anti-inflammatory agents for increased cytokine, which is found in different variants and mutations of COVID-19 and post COVID-19 syndrome.

Specifically, it said that the mechanism of action of ArtemiC is focused on the anti-inflammatory effect and prevention of cytokine storm which is believed to be the main reason for mortality in COVID-19 patients.

In today’s statement the company said that preclinical and clinical results to date support ArtemiC being effective for addressing cytokine overproduction in all tested COVID patients. 

A preclinical study in an ARDS model, in mice, was performed in Israel and the results demonstrated decreased blood and BALF (bronchoalveolar lavage fluid) cytokine levels in those treated with ArtemiC.

Separately, as detailed in December, the company has demonstrated efficacy in COVID-19 infected patients in a Phase II clinical trial with those in the treatment group fully clinically recovered within 15 days of follow up.

It noted that the results delivered a full safety and efficacy profile, demonstrating its ability to improve and expedite the clinical recovery in mild and moderate COVID-19 patients.

The company also noted that once the inflammation process associated with COVID-19 is under control, the effects of ‘long COVID’ should be minimised, and, it plans to start a sub-trial in combination with the upcoming Phase III clinical trial to prove this hypothesis.

It intends to observe patients who complete the Phase III trial for an additional three months, to document post COVID syndrome symptoms both in the treatment and placebo groups.

“The findings from the phase II clinical trials which are supported by the completed preclinical trial results, continue to demonstrate the effectiveness of ArtemiC in treating patients with different variants of COVID-19,” said Roby Zomer, MGC managing director.

“We are now looking to get ArtemiC into more territories as a supplement and herbal health product following these findings.”

Yesterday the company announced a trading halt for its ASX listing pending an announcement on further findings on ArtemiC. In Australia, the shares are due to resume trading on Monday.

In London, MGC shares gained 5.4% to change hands at 3.83p.

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