- MGC Pharmaceuticals (MXC) completes the construction phase of the CimetrA production facility in Malta on schedule
- The company says the facility will have the capacity to produce over 20,000 units of CimetrA in liquid dose form per day – double what was originally planned
- MGC Pharma received a €3.1 million (around A$4.8 million) cash grant from the Maltese Government to fund the majority of construction costs of the facility
- An official ribbon cutting ceremony will be taking place on November 16th, following equipment fit out and commissioning
- MGC Pharmaceuticals was up 4.26 per cent, trading at 4.9 cents at 12:40 pm AEDT
MGC Pharmaceuticals (MXC) said it has completed the construction phase of the CimetrA production facility in Malta on schedule.
MGC Pharma received a €3.1 million (around A$4.8 million) cash grant from the Maltese Government through Malta Enterprise to fund the majority of the costs of construction and equipment fit out of the facility.
The company said the facility will have the capacity to produce over 20,000 units of CimetrA in liquid dose form per day – double what was originally planned.
An official ribbon cutting ceremony will be taking place on November 16th, witnessed by representatives of MGC Pharma, Malta Enterprise and the Maltese Government.
The ceremony will mark the culmination of almost a year’s worth of efforts since the company was awarded a grant by the Maltese Government to build and extend the clinical research facility, originally intended to produce 10,000 units of liquid dose units per day of the COVID-19 anti-inflammatory product, ArtemiC.
Roby Zomer, Co-founder and Managing Director of MGC Pharma, said the completion of the facility provides the company with flexible production capacity, including production of its proprietary treatment for the symptoms of COVID-19.
Equipment fit out will begin immediately, with commissioning set to be completed on schedule.
MGC Pharmaceuticals was up 4.26 per cent, trading at 4.9 cents at 12:40 pm AEDT.