Business
MGC Pharmaceuticals Ltd (ASX:MXC) is a European based ‘Seed to Medicine’ bio-pharma company focused on developing and commercialising phytocannabinoid derived medicines, is pleased to announce it has received formal approval for the sale of CannEpil® in Ireland following the recommendation by the Health Products Regulatory Authority (HPRA), CannEpil® is one of MGC Pharma’s Investigational Medicinal Product’s (IMP) to treat drug resistant epilepsy. MGC Pharmaceuticals also announced it has signed a binding term sheet (the ‘Term Sheet’) with established Brazilian business services company, BRASILINVEST Global Business and Development (‘BrasilInvest’) to establish a Joint Venture Company (‘JV Co’) for the dedicated retail sales and marketing of MGC Pharma products into key Brazil and Latin American markets. The JV Co is to be incorporated as a 50% (BrasilInvest)/50% (MGC Pharma) ownership structure.