MGC Pharma’s new Production Facility in Hal Far will be officially opened today during an official ceremony with Malta Enterprise and the Maltese Government represented by Enterprise Minister Miriam Dalli and Consumer Affairs Parliamentary Secretary Deo Debattista.
The completion of the Facility on time and within the parameters of the €3.1 million cash grant through the COVID-19 Investment Aid Scheme represents MGC Pharma’s commitment to Malta, and fruitful collaboration with Malta Enterprise, with the unique relationship focused on the establishment of a robust Phytomedicines-based pharma industry operating at a global standard.
The new facility is expected to create 20 new quality jobs in the phytomedicine industry.
MGC Pharmaceuticals Ltd is a European based bio-pharma company specialising in the production and development of phytomedicines, and will be producing in Malta CimetrA™.
This novel pharma product has anti-inflammatory and immunomodulating effects and can be designed for multiple therapeutic applications utilising Graft Polymer IP Ltd’s proprietary GraftBio™ Self-nano-emulsifying Drug Delivery System. Preclinical and Clinical results to date have demonstrated CimetrA™’s mechanism of action as an anti-inflammatory and immunomodulatory agent which is effective in the prevention of severe inflammation by its control of increased Cytokine production. This results from an infection of the different variants of SARS-CoV-2 (the virus responsible for COVID-19); and which is the forerunner of a Cytokine Storm, believed to be the main reason for mortality in severe COVID-19 patients.
MGC Pharma received a €3.1 million cash grant from the Maltese Government via Malta Enterprise.
The Maltese facility will create a European manufacturing hub for CimetrA™ and for other liquid form dose medicines, putting MGC Pharma in a strong position to streamline global distribution through convenient shipping access.
MGC Pharma received a €3.1 million cash grant from the Maltese Government via Malta Enterprise, in order to fund the majority of the costs of construction, and equipment fitout of the facility.
The fully-compliant EU GMP production facility will have the capacity to produce over 20,000 units in liquid dose form per day, which is double that originally planned and announced in December 2020, making it an important part of MGC’s manufacturing pipeline, and to meet CimetrA™’s near-term demand.
Malta Enterprise and the COVID-19 EU Grant Scheme
Malta Enterprise is the country’s economic development agency, tasked with attracting new foreign direct investment as well as facilitating the growth of existing operations. In June 2020, Malta Enterprise announced itwould provide financial support for undertakings to carry out investment projects to increase or initiate production of COVID-19 relevant products, or to diversify existing production to be able to produce COVID-19 relevant products.
CimetrA™ is a nanoparticle micellar formulation based on the pharmaceutical synergetic composition consisting of Curcumin and Boswellia.
Roby Zomer, Co-founder and Managing Director of MGC Pharma, commented: “The completion of the construction of the CimetrA™ facility in Malta, the Company’s second EU based production facility, continues to strengthen our strategic position in pharmaceuticals development and manufacturing, and provides the Company with flexible production capacity, which includes production of CimetrA™, MGC Pharma’s proprietary treatment for the symptoms of COVID-19.”
Kurt Farrugia, CEO of Malta Enterprise, commented: “Malta Enterprise is proud to support MGC Pharmaceuticals Ltd develop and produce CimetrA™ through the COVID-19 Investment Aid fund, which was set-up to assist companies develop products in the fight against the pandemic. This project is a great example of how both MGC and ME seized an opportunity during critical circumstances, and we are thrilled that CimetrA™, a potential solution to mitigate the effects of the Coronavirus, will carry the ‘made in Malta’ brand. It also shows an evolution of our Life Sciences and Pharma industry with the production of phytomedicines in Malta, creating another niche within the sector.”