MGCLF - MGC Pharmaceuticals secures funding through to the end of 2024
(NewsDirect)
MGC Pharmaceuticals Ltd (LSE:MXC,OTC:MGCLF, ASX:MXC) CEO and Managing Director Roby Zomer speaks toThomas Warner from Proactive London about the recent securing of thesingle largest injection of funding in the company'shistory.
Following a difficultperiod of restructuring for the business, the investment provides thecompany with financial stability through to the end of 2024. MGC aimsto progress its leading drugs, CannEpil and CimetrA, toward FDAapproval and expand its medicinal footprint via early patient accessschemes in the UK, Ireland, and other regions.
Crucially, the recent funding influxoriginated primarily from Israel and the United States, indicating ashift in MGC's financial grounding. While historically reliant onAustralian and UK capital, the company now sees American investorsrecognizing its potential, especially in FDA registrations in thelucrative US pharmaceutical market.
Furthermore, MGC'sEuropean operations continue to strengthen, with production facilitiesin Slovenia and Malta and headquarters in Slovenia and the UK. Forexisting shareholders, Zomer assures that the restructuring and newinvestment ensure that the company remains on track to meet its goals.Reflecting on the company's challenging journey, Zomer emphasisesthe importance of persistence and belief in the company'smission.
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