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    AVE   AU0000047441

AVECHO BIOTECHNOLOGY LIMITED

(AVE)
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Avecho Biotechnology Limited Announces Dosing Commences for Phase I Human Clinical Trial Measuring CBD Absorption in Healthy Volunteers

10/03/2021 | 06:23pm EST

Avecho Biotechnology Limited announced that it has commenced dosing in a cohort of 16 healthy volunteers for its Australian Phase I pharmacokinetic (PK) study (`the Study') designed to characterise the absorption profile of cannabidiol (CBD) from its TPM®-enhanced pharmaceutical CBD soft-gel product. Avecho's oral CBD formulation has already been demonstrated to increase the oral bioavailability of CBD in animal models when compared to standard CBD preparations. This Study will demonstrate the absorption profile of the Company's CBD formulations in humans for the first time and support Avecho's strategic focus of developing pharmaceutical CBD products that leverage its proprietary TPM® formulations. The Study will assess the safety and absorption profile of Avecho's 75 mg CBD soft-gel product, which has been developed and manufactured by Catalent Inc. at its facility in Florida, US. Subjects in the study will receive two separate doses (75 mg and 150 mg) over a period of two weeks. Healthy volunteers received their first dose at the CMAX Clinic in Adelaide on Saturday 2 October 2021, with no adverse events of concern reported. The second dose will commence on the 9th of October. Blood samples will be analysed for CBD, TP, T2P and tocopherol (the components of Avecho's TPM® formulation) and the results used to investigate a range of standard pharmacokinetic variables. These include the maximum drug concentration in the blood (Cmax), the time taken to reach the maximum drug concentration (Tmax) and the total drug exposure over time (AUC).


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Financials
Sales 2020 0,38 M 0,27 M 0,27 M
Net income 2020 -2,63 M -1,85 M -1,85 M
Net cash 2020 1,71 M 1,20 M 1,20 M
P/E ratio 2020 -17,1x
Yield 2020 -
Capitalization 27,5 M 19,3 M 19,3 M
EV / Sales 2019 0,75x
EV / Sales 2020 116x
Nbr of Employees 15
Free-Float 69,3%
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Managers and Directors
Paul David Gavin Chief Executive & Scientific Officer
Melanie Jaye Leydin Chief Financial Officer & Secretary
Gregory Collier Executive Chairman
Roksan Libinaki Chief Operating Officer
Ross Thomas Murdoch Non-Executive Director
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