AUS
NZ
UK
CA
USA
IND
EU based MGC Pharmaceuticals Ltd (ASX:MXC) has received independent verification of its premium grade THC and CBD genetic strains, and with that, the strains are now registered with the EU. Slovenia based University of Ljubljana Biotechnical Faculty and Pharma lab conducted the tests and confirmed the test results of the companyâs new cannabis genetics strains, which the company had announced on 1st February 2019.
The University independently verified:
The strain MXC-10 contains more than 35 percent of THC, and this makes MXC 10 to have the highest content of any MXC genetic strain cultivated to date.
MXC-81 confirmed to yield more than 20 percent CBD and less than 1 percent THC.
MGC Pharmaceuticals Ltd believes that these results are significant on the global cannabis industry scale and will have material implications for the yields of future cultivations and help the company lower the operating costs of its Malta operations. The company will be able to extract high amounts of API per kilogram of its raw material, and the company also stated that it could extract cost effective and affordable phytomedicines (Herbal Medicine) from these strains.
The company press release states that the tests were conducted by Prof Dr. Borut Bohanec, Head of the chair of Genetics, Biotechnology, statistics and plant breeding at the University.
The new strain; MXC-81 contains over 20% CBD and Low THC (<1%) which is significantly better than the companyâs 2015 variety which yielded 10% CBD and low THC (<1%).
The company also mentioned that as a part of the genetics registration in the EU to demonstrate the stability of the strains, the company would conduct an additional breeding round.
Mr. Roby Zomer, Co-founder and Managing director of MGC pharmaceuticals highlighted the importance of the results coming out of the University of Ljubljana. Mr.Zomer believes that this result will help the company develop as a pharmaceutical company, working towards bringing a range of premium medicinal cannabis medications to market.
The MD also stressed on the benefits of high yielding strain and believed that they can scale up for production with a direct benefit on the costs, due to the cost-effective nature of yield.
The cannabis market has seen a lot of action in the past few years, thanks to its medicinal values. The Cannabis industry is poised for growth, and research suggests that the cannabis market could be bigger than a billion dollar over the next decade.
Stock Information:
The shares of MGC Pharmaceuticals Ltd are trading flat on ASX today (26Th February 2019, 2:45 PM AEST) at A$0.040. The share price has been in a downward trend and is down by 23.08 percentage in the past six months.
MGC Pharmaceuticals Ltdâs (ASX:MXC) market capitalization stands at $48.51million. The Stock price has noted the 52-week low price of A$ 0.032 and the 52-week high price of A$0.105. The company has an EPS of -0.007 AUD.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
