MGC Pharma shares surged by 41% on the ASX on Friday after test results in Israel indicated its natural supplement ArtemiC could be an effective treatment for Covid-19.
Results from pre-clinical in-vitro laboratory tests suggested the supplement can modify the function of human immune cells in response to inflammatory stimuli.
MGC Pharma said the findings support the theory that ArtemiC can have a positive impact on the excessive and uncontrolled production of cytokines – the “cytokine storm” which is thought to play an important role in the deterioration of patients with the most severe cases of Covid-19.
MGC Pharma co-founder and MD Roby Zomer said: “We are very pleased to have achieved these results, which have been completed in line with FDA requirements.”
The company recently joined a global World Health Organisation (WHO) taskforce to map and assess research and clinical trials aimed at halting the pandemic.
Further studies are underway.