IM Cannabis Corp will be responsible for the importation, commercialisation, promotion and distribution of CannEpil® in Israel, with MGC Pharma to apply for registration under early patient access scheme.
MGC Pharmaceuticals Ltd (ASX:MXC) (OTCMKTS:MGCLF) has signed a binding term sheet with one of Israel’s leading cannabis brands for the exclusive wholesale import, sales and distribution of CannEpil® in Israel.
The agreement with IM Cannabis Corp (CNSX:IMCC) (OTCMKTS:IMCNF), which is one of the pioneers of the Israeli industry and has operations in Europe, is for a period of five years.
It will also see CannEpil® imported for a phase IIb clinical trial, which is due to begin next quarter following Israel Ministry of Health final approvals.
MGC Pharma’s co-founder and managing director Roby Somer said: “We are very pleased to have our first Israeli commercial distribution agreement for CannEpil® in place with one of the leading companies of medical cannabis in Israel.
“There is a strong need for epilepsy medication in Israel and the agreement with IMC has the potential to be transformational for MGC following successful clinical trials.”
Through IMC’s exclusive commercial agreement with Focus Medical Herbs Ltd it has access to the existing distribution network in place with Super Pharm, Israel’s largest pharmacy chain, in addition to other pharmacies in Israel.