MGC Pharmaceuticals (ASX:MXC) says it has received a UK Controlled Drug Import Licence permit for the importation of CannEpil.
The company said it has also received its first formal purchase orders for CannEpil through licensed distribution partners in both Australia and the UK.
The permit means the company can immediately expand the distribution of CannEpil into the UK medicinal cannabis products market. It will be managed in the region by MXC’s distribution partner, Lenis.
The company also confirmed it has received its first formal purchase orders for CannEpil in both Australia and the UK.
"The delivery of products to fulfil these initial purchase orders are planned for April, with new orders from these licensed distribution partners anticipated as new distribution channels are established in the coming months," it said.
The company said it is actively finalising negotiations with licensed distributors in Australia and the UK and expects to sign formal binding agreements in the coming weeks.
“We are delighted to have received this Permit from the United Kingdom Home Office Drugs Licencing and Compliance Unit, as it significantly expands the potential distribution of CannEpil into the UK," said co-founder and managing director of MGC Pharmaceuticals, Roby Zomer.
"With first purchase orders from the UK and Australian licensed distribution partners already received, and new distribution deals expected to be signed in the coming weeks, our expanded distribution in Australia, Europe and the UK will mean we will be able to provide more patients in need with access to CannEpil and our other IMPs.”