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The latest announcement is out from Avecho Biotechnology Limited ( (AU:AVE) ).
Avecho Biotechnology Limited has received a US$3 million upfront payment from Sandoz AG for the exclusive rights to commercialize its CBD capsule for insomnia in Australia. This agreement, which includes potential milestone and royalty payments, positions Avecho to expand its market presence while retaining commercialization rights in other territories. The CBD capsule is set to be the first over-the-counter pharmaceutical CBD product registered with the Therapeutic Goods Administration in Australia, with market forecasts predicting significant sales potential. The partnership with Sandoz strengthens Avecho’s financial position, enabling the company to accelerate its Phase III clinical trial and advance towards regulatory approval, thereby enhancing its industry positioning and stakeholder value.
More about Avecho Biotechnology Limited
Avecho Biotechnology Limited is a company that develops and commercializes innovative health products for humans and animals using its proprietary drug delivery system, Tocopheryl Phosphate Mixture (TPM®). This system, derived from Vitamin E, enhances the solubility and absorption of drugs and nutrients. Avecho’s lead product is a cannabidiol (CBD) TPM soft-gel capsule aimed at treating insomnia, currently in Phase III clinical development.
Current Market Cap: A$19.02M
Find detailed analytics on AVE stock on TipRanks’ Stock Analysis page.