MGC Pharma is set to receive a grant of €3.1 million from the Maltese Government to help fund the manufacture of its ArtemiC COVID-19 anti-inflammatory treatment on the island.
The money, from economic development agency Malta Enterprise, will be used to renovate and extend the company’s existing Clinical Research Organisation (CRO) facility in Malta to include a fully functioning GMP-certified manufacturing facility for liquid dose form and ArtemiC.
MGC Pharma recently announced positive results from a phase II double blind trial which showed ArtemiC significantly improved the clinical recovery of 50 COVID-19 patients in comparison with a placebo.
Co-founder and managing director Roby Zomer said: “MGC Pharma is very committed to our operations in Malta and helping to build a responsible and viable industry to support the island’s emerging pharma and cannabis industries.
“We have been working closely with Maltese authorities and Malta Enterprise and now have a tremendous opportunity to establish a European hub for our anti-inflammatory product, ArtemiC, which is continuing to have positive clinical trial results.”