MGC Pharmaceuticals (ASX:MXC) has received US$500,000 (~A$743K) funding from Mercer Street Global Opportunity Fund, LLC, a fund managed by US-based institutional fund manager Mercer Street Capital Partners, LLC.
MGC Pharmaceuticals says the funding will be used as working capital for its ongoing operations, including its clinical trial program.
MGC Pharmaceuticals is a European-based bio-pharma company specialising in the production and development of plant-inspired medicines.
Its partnered with renowned institutions and academia and have a growing patient base across the world, and say it's poised to supply the global market with its products.