GraftBio - MGC Pharma Update

RNS Number : 6854T

Graft Polymer (UK) PLC

21 March 2023

 

21 March 2023 LSE Code: GPL

Graft Polymer (UK) Plc ('Graft Polymer', the 'Company', and together with its subsidiaries, the 'Group') GraftBio - MGC Pharma Update OTC Drug listing in the USA Further Endorses GraftBio's® Drug Delivery System

Graft Polymer (UK) Plc, a business focused on the development and commercial production of modified polymer solutions including additives, alloys, synthesis, and drug delivery systems, is pleased to note the announcement by MCG Pharmaceuticals Ltd ( LSE:MXC, ASX:MXC, 'MCG Pharma') on 21 March 2023, further reinforcing the importance and acceptance of Graft Polymer's drug delivery systems.

MGC Pharma's ArtemiC™ proprietary clinically tested COVID 19 treatment, which uses the Company's GraftBio® divisions drug delivery systems, has been listed as an over-the-counter ('OTC') drug on the US Food and Drug Administration's National Drug Code Database ('NDC'), facilitated by MGC Pharma's supply and US based distribution partner, AMC Pharma, LLC ('AMC').

This listing on the NDC further endorses the importance of GraftBio®'s drug delivery systems in pharmaceutical products.

The OTC status means that AMC will be able to sell ArtemiC™ via US-based Pharmacy Benefit Management ('PBM') networks, including prescription discount services, from April 2023. AMC are negotiating with the largest US Pharmacy networks, and independent pharmacies for the inclusion of ArtemiC™ in shelf space now that the NDC has been listed. This nation-wide availability across the USA will increase retail access and subsequent sales, and the purchase order from AMC to MGC Pharma of ArtemiC™ for delivery in Q3 and Q4 2023 therefore requires the continued manufacturing input from Graft Polymer.

The full announcement by MGC Pharma can be found at https://mgcpharma.co.uk/investors/lse

Commenting on MGC Pharma's update, Victor Bolduev, CEO, commented:

'This is a major milestone for MGC Pharma and the NDC listing for over-the-counter sales of ArtemiC™ provides significant access to the largest healthcare market in the world. The order from their US based distribution partner, AMC, endorses the importance of the ArtemiC™ product, and with GraftBio's® drug delivery platform plating a crucial role it its manufacture, I am very encouraged about the potential of, and future uses of, our technology going forward .'

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Authorised for release by the board of directors, for further information please contact:

Graft Polymer (UK) Plc (via St Brides Partners)	St Brides Partners (Public Relations)
Roby Zomer, Non Executive Chairman Yifat Steuer, CFO and Executive Director https://www.graftpolymer.com	Catherine Leftley Ana Ribeiro Max Bennett [e-mail]
Turner Pope Investments (Broker)
James Pope Andy Thacker [phone]

About Graft Polymer

Graft Polymer is a London Stock Exchange listed company (GPL.L) with a cutting-edge, cash-flow positive, research and development (R&D) and manufacturing facility based in Slovenia which has already introduced more than 50 products to the market. The core business of the Group comprises polymer modification and drug delivery system developments. The Group has developed a proprietary set of polymer modification technologies which uses recycled raw materials and a closed loop system to reduce waste.   Graft Polymer's technology can improve existing products and processing methodologies by enhancing performance, simplifying manufacturing, reducing material consumption, widening the choice of feedstocks, and reducing costs.

Graft Polymer has two divisions: the first division focusses on polymer modification; the second is GraftBio which develops IP for Bio/Pharma applications (including a drug delivery system to support and provide solutions to the market, which had been heavily impacted by the COVID-19 pandemic). A significant milestone was reached in May 2022 when the Slovenian manufacturing facility was granted a Hazard Analysis and Critical Control Point (HACCP) Certificate.

Environment, Social and Governance is at the forefront of the Group's strategy and the facility in Slovenia has been granted ISO 14001 accreditation in recognition of the environmental management systems in place to reduce waste. Graft Polymer only uses REACH and ROHS certificated raw materials instead of toxic raw materials, and its extensive R&D programme has also developed specialised recycling polymer additives which increases the strength of recycled blends and plastic products whilst also reducing plastic waste by between 40 and 50 per cent.

 

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