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The latest update is out from Avecho Biotechnology Limited ( (AU:AVE) ).
Avecho Biotechnology Limited announced a significant partnership with global pharmaceutical company Sandoz AG, which has invested in Avecho’s TPM-enhanced CBD soft-gel capsule. This collaboration positions Avecho to potentially become the first company to offer an approved CBD sleep treatment in the Australian OTC pharmacy market. The deal includes an upfront payment of US $3M and further development milestones worth US $16M plus royalties, ensuring the trial is fully funded. This partnership not only validates Avecho’s product but also sets a strong commercial framework for future international licensing opportunities.
More about Avecho Biotechnology Limited
Avecho Biotechnology Limited is a company that develops and commercializes innovative human and animal health products using its proprietary drug delivery system called Tocopheryl Phosphate Mixture (TPM). Derived from Vitamin E, TPM enhances the solubility and absorption of drugs and nutrients. Avecho’s lead product is a cannabidiol (CBD) TPM soft-gel capsule, currently in Phase III clinical development for treating insomnia.
Current Market Cap: A$12.69M
Find detailed analytics on AVE stock on TipRanks’ Stock Analysis page.