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Highlights:
- Avecho and Sandoz sign an exclusive ten-year development and license agreement (“Agreement”) for Avecho’s pharmaceutical cannabidiol capsule for insomnia in Australia
- Avecho to receive upfront, milestone and royalty payments:
- US$3M (~A$4.8M[1]) in upfront payment
- US$16M in development milestones prior to commercial sales
- Tiered royalties ranging from 14% to 19% on net sales
- Sandoz to purchase the product from Avecho for commercial sale
- Avecho retains the rights to commercialise the product in all other territories, with Sandoz granted a right of first refusal to exceed any commercial offers Avecho receives
- Market for over-the-counter cannabidiol registered in Australia forecast to grow to >US$125M per annum[2]
- CEO Dr Paul Gavin will discuss this announcement further during an investor webinar to be held at 11.00am (AEDT) on Tuesday 4 March 2025 – click here to register
MELBOURNE, Australia, March 3, 2025 /PRNewswire/ — Avecho Biotechnology Limited (ASX: AVE) (“Avecho” or the “Company”) today announced it has signed an exclusive ten-year development and licensing agreement with Sandoz Group AG (“Sandoz”) for the commercial rights to Avecho’s Phase III cannabidiol (“CBD”) capsule for insomnia in Australia. Avecho retains the rights to commercialise the product in all …
