MGC Pharma experienced growth across all fronts in the six months to end December 2023, according to Roby Zomer, co-founder and managing director.
“MGC secured a substantial order worth US$1 million from AMC Pharma for the production of ArtemiC,” he said in an announcement.
“This order coincides with AMC's recent supply agreement to distribute ArtemiC to over 100 Holistic and Wellness Chiropractic offices across California and Florida.
“Additionally, our company obtained an import permit for our Slovenian research facility allowing the importation of psilocybin.”
MGC has also received FDA approval in Saudi Arabia for ArtemiC.
The drug developer also carried out a comprehensive corporate restructuring, including a 1,000:1 consolidation.
Losses in the half year to December 2023 fell to A$7.1 million from A$11 million on sales of A$600,000 (A$2.6 million in 2022).