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Cannvalate signs distribution and logistics deal with MGC Pharma (ASX:MXC)
Cannvalate has signed a distribution and logistics agreement with EU based, MGC Pharmaceuticals (ASX: MXC), to provide the company access to its supply network and patients of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring doctors and 600 affiliated pharmacies in all states across Australia.
Tuesday, 7 May, 2019, Melbourne, Australia– Medicinal cannabis company, Cannvalate, has signed a deal with EU based BioPharma company, MGC Pharmaceuticals Ltd (ASX: MXC) to introduce their products, designed to treat patients with epilepsy, inflammation, Alzheimers and dementia, by providing them with access to Cannvalate’s extensive network of medicinal cannabis prescribing doctors and their patients.
Cannvalate is a leading Melbourne-based medical-cannabis company, with expansive operations across patient access, research and end-to-end solutions for both domestic and international licensed producers.
Australian Cannabis Market Access (ACMA), is a national division with a network of over 1,000 doctors and 600 pharmacies that educates and empowers existing medical clinics that coordinate a shared-care model to better serve their patients with cannabinoid medications.
Cannvalate CEO and Co-founder Dr Sud Agarwal says: “The Cannvalate team is delighted to be representing MGC Pharma’s product range across Australia. I have every confidence that their carefully crafted products will be very well received by the medical community. Our relationship with MGC Pharma continues to deepen.”
“Further to distribution, we are currently supporting them to initiate a number of clinical trials at the Swinburne-Cannvalate, Medicinal Cannabis Research Collaboration that will lead to an increased footprint in Australia. The outcome of these trials will lead to increased confidence across the medical community as physicians will be able to draw on local data specific to MGC Pharma’s product range,” he said.
Roby Zomer, Co-founder and Managing Director, MGC Pharmaceuticals says: “Establishing this distribution and logistics agreement with Cannvalate, a leading company providing access to one of Australia’s largest medicinal cannabis prescribing clinics, provides an excellent partner to endorse our phytocannabinoid based product rangeand significantly expand our distribution in Australia”.
“These are exciting times for the Company; following this deal and the research and development that we have carried out in formulating our range is proving successful.”
Cannvalate launched in April 2018 and completed a series A $4million raise in October 2018. It has plans to IPO in 2019. In Feburary 2019 Cannvalate announced a purchase of more than 100 acres of farm land in Melbourne, Victoria, with plans to become Australia’s largest cannabis cultivation hub. The company will build a number of individual facilities that will have full Office of Drug Control approval for cultivation and manufacturing.
In 2019 it also signed major deals with ASX organisations Impression Healthcare (ASX:IHL) and Althea (ASX:AGH), providing them with product distribution access to their wide network of medicinal cannabis prescribing doctors and their patients.
The Swinburne-Cannvalate Medicinal Cannabis Research Collaboration (MCRC) is Australia’s cannabis-dedicated research department conducting clinical trials on behalf of multiple licensed producers, including Impression Health (ASX:IHL), MGC (ASX:MXC) and Althea (ASX:AGH) located in Melbourne, Australia.
Ends
Media Contact for Cannvalate | The PR Hub
Samantha Dybac, Managing Director
+61 411 251 373 | samantha@theprhub.com.au
Available for Interview: Dr Sud Agarwal, CEO and CoFounder, Cannvalate
Media contact for MGC Pharma | Media and Capital Partners
Justin Kelly+61 408 215 858I justin.kelly@mcpartners.com.au
Download Cannvalate Imagery
- High res image of Dr Sud Agarwal https://bit.ly/2Ed5y7S
- High res image of Cannvalate cofounders (L-R)
Dr Sud Agarwal, Darryl Davies and Asaf Katz
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About Cannvalate
Cannvalate is Australia’s largest business-to-businessservices company helping Licensed Producers of medicinal cannabis fast track their growth into the Australian market.
Their four key services include:
- ACMA (Australian Cannabis Market Access) – Australia’s largest network of medicinal cannabis prescribing clinics, consisting of more than 1,000 referring healthcare professionals and 600 affiliated pharmacies spanning all states of Australia. Cannvalate prescriptions currently account for over 30% of the Australian market, which has seen the number of total monthly prescriptions increase by over 800% in the last twelve months.
- Medicinal Cannabis Research– fast-tracked clinical trials to enhance standing with medical prescribers
- CannaFarm– ready to grow, turnkey cultivation hubs with all licenses/permits provided
- Compliance as a service– outsourced license applications for Import/ Export, Cultivation, Research, Manufacturing, Wholesale
Dr Sud Agarwal Biography
Dr Sud Agarwal is the co-founder and chief executive officer of Cannvalate, Australia’s first medically backed, medicinal cannabis company, focused on providing a seamless entry for global licensed producers of medicinal cannabis into the Australian market.
He is a former medical director of the Cann Group (ASX:CAN) and medical adviser to numerous listed/ unlisted companies and governmental bodies.
Dr Agarwal received his medical qualifications in the United Kingdom before emigrating to Australia in 2001. He has since commercialised, scaled and successfully exited three healthcare businesses and has a track record for seeing business opportunities at their earliest stage, and building high performing teams.
Dr Agarwal is also an experienced property developer who has completed 7 projects comprising residential, commercial and mixed-use projects. As the founder and director of Sterling Property Group, he has proven his ability to achieve excellent design and planning results, manage construction projects and deliver multi-faceted built form outcomes on time, under cost and with superior quality.
A rare combination of extensive medical experience, commercialisation success in several healthcare businesses and a proven track record in property development, positions Dr Agarwal perfectly to lead Cannvalate.
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AboutMGC Pharmaceuticals Ltd (ASX: MXC
MGC Pharmaceuticals Ltd (ASX: MXC) is an EU based BioPharma company with many years of technical clinical and commercial experience in the medical cannabis industry. The Company’s founders were key figures in the global medical cannabis industry and the core business strategy is to develop and supply high quality Cannabinoids based pharmaceuticals products for the growing demand in the medical markets in Europe, North America and Australasia.
MGC Pharmaceuticals Ltd
Brett Mitchell
Executive Chairman
+61 8 6382 3390
info@mgcpharma.com.au
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