MGC Pharmaceuticals receives promising safety and toxicity study results for ArtemiC

MGC Pharmaceuticals Ltd (ASX:MXC) is encouraged by results from a safety and toxicity study completed on mice for AtemiC, showing no clinical signs or adverse reactions from the full panel of hematology and chemistry blood tests.

This pre-clinical study was performed in the Science in Action Laboratory in Ness Ziona, Israel, with results confirming ArtemiC was administered safely in animal models in two separate doses.

ArtemiC is designed with the scientific aim to target viral infections with inflammatory complications and is being evaluated in a Phase II clinical trial on novel coronavirus 2019 (SARS-CoV-2) infected patients.*"Supports" clinical trial in COVID-19 patients*

Co-founder and MD Roby Zomer said: "We are very pleased with these results achieved in the ArtemiC safety and toxicity study.

"Importantly, this study provides further support for the parameters of our Phase II clinical trial in COVID-19 patients currently underway.

"We look forward to receiving the histology results from this in vivo study in the coming days, to be followed by the first interim results from our Phase II clinical trial in Israel on COVID-19 infected patients that are now expected by early August."

Shares have been as much as 13% higher to A$0.027 intra-day.