MGC Pharmaceuticals Ltd (ASX: MXC) reports that its MGC Derma division will launch its first cannabidiol-based Derma Plus product from the start of the New Year.
The Herbal Repair Cream product utilises proprietary cannabidiol (CBD) compounds and is used for the daily treatment of mild forms of psoriasis symptoms.
MGC says the symptoms successfully treated through the independent tests completed to date include effective reduction of skin irritation (by 69% after 4 weeks of evaluation), and treatment of skin itchiness, flaking and severe dryness.
Independent experts estimate that the global market for psoriasis treatment, which was worth US$7.8 bn in 2015, is projected to expand at a compound annual growth rate (CAGR) of 5.10% during the period for 2016 to 2024 and attain a value of US$12.1 bn by the end of the forecast period. Source: Transparency Market Research
The Herbal Repair Cream will be made available for sale from 1 January 2018 to customers globally through MXC’s existing commercial distribution channels and eCommerce platforms, including the MGC Derma website and throughout the European Union, North America and Australasia where the product is approved for sale.
Independent European Clinical Testing
Clinically testing by Dr Rok Devjak, MD PhD, at the leading dermatological clinic in Slovenia,has assessed the product’s efficacy in persons with psoriasis.
According to Roby Zomer, Co-founder and CEO,of MGC Pharmaceuticals, results from the clinical test program showed that the Herbal Repair Cream helps to significantly reduce itching, flaking and dryness as well as soothe, soften and comfort sensitive skin and reduce the symptoms of dry skin for people with psoriasis.
Mr Zomer said two additional products from the Derma Plus range are expected to be made available for sale in early 2018. The additional products are: a Herbal Replenishing Cream which can be used for the daily care of mild seborrheic dermatitis and a Herbal Repair Balm which can be used for the daily care of oily and acne prone skin.
“The Derma Plus range is one of MGC Derma’s most exciting and innovative products that has been in development for nearly 2 years, so we are very proud to finally make it available for commercial sale from 1 January 2018,” Mr Zomer said.
The Herbal Repair Cream, has demonstrated strong results throughout the clinical test program which validates the benefits of medicinal cannabis-based skin care products, in particular ones which utilise our proprietary CBD compounds.”
MGC Derma Division is a 51:49 joint venture between MGC Pharmaceuticals and well-credentialed cosmetic manufacturer Dr. M. Burstein Ltd.
