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Avecho Biotechnology Limited ( (AU:AVE) ) has issued an announcement.
Avecho Biotechnology Limited has secured $2.5 million through a placement to institutional and sophisticated investors, which will be used to accelerate commercial manufacturing activities for its CBD TPM® capsule. This funding will support the company’s efforts to complete the necessary manufacturing work for a future TGA submission, enhance commercial manufacturing capabilities, and prepare for potential market expansion following successful Phase III trial outcomes. The placement positions Avecho to advance its clinical and commercial objectives, potentially impacting its market positioning and stakeholder interests.
More about Avecho Biotechnology Limited
Avecho Biotechnology Limited develops and commercializes innovative human and animal health products using its proprietary drug delivery system called Tocopheryl Phosphate Mixture (TPM®). TPM® is derived from Vitamin E and enhances the solubility and absorption of drugs and nutrients. Avecho’s lead asset is a proprietary cannabidiol (CBD) TPM soft-gel capsule, which is in Phase III clinical development for treating insomnia.
Current Market Cap: A$19.04M
See more data about AVE stock on TipRanks’ Stock Analysis page.