By Joe Hoppe

MGC Pharmaceuticals said results from a preclinical toxicology trial of its anti-inflammatory drug Cimetra were positive, finding the drug to be safe.

The London and Australia-listed biopharma company said Monday that the study, a full chronic safety and toxicology analysis of the drug in large animals, demonstrated all tissues of all animals were normal and unaffected.

The study was for a 14-day oral dose of Cimetra, undertaken on 32 domestic swine.

The study is an important step in the Investigational New Drug application preparation for the U.S. Food and Drug Administration, with submission planned for the first quarter of 2024, the company said.

"The potential addressable market for our anti-inflammatory and immunomodulating product is considerable and this represents a key milestone for the business," Chief Executive and Managing Director Roby Zomer said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

August 14, 2023 02:48 ET (06:48 GMT)

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