Avecho Biotechnology
Avecho Biotechnology is an Australian clinical-stage biotech (ASX:AVE) developing a proprietary TPM® tocopheryl phosphate drug delivery platform, with a lead Phase III TPM-enhanced CBD soft-gel capsule for insomnia partnered with Sandoz for Australian commercialization.
- Company typePublic
- Founded2019
- HeadquartersClayton, Australia
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Avecho Biotechnology does
Avecho Biotechnology Limited (ASX:AVE), formerly Phosphagenics Limited until a May 2019 rebrand, is an Australian clinical-stage biotechnology company developing products around its proprietary TPM® (tocopheryl phosphate) drug delivery platform — an enhanced form of Vitamin E designed to improve the delivery, effectiveness, and tolerability of pharmaceutical and nutraceutical compounds. The company is headquartered in Clayton, Melbourne, employs 11-50 staff, and operates across human pharmaceutical, animal health, and contract manufacturing segments.
The lead asset is a TPM®-enhanced CBD soft-gel capsule for insomnia, currently in a 519-participant pivotal Phase III trial across five Australian sites — the world's largest CBD insomnia trial, designed to support TGA, FDA, and EMA submissions. The capsule demonstrated a four-times increase in average CBD absorption versus Epidiolex in a comparative canine study with no increase in gastrointestinal irritation. Adjacent programs include a topical CBD gel for hand osteoarthritis (positive Phase IIa results with p<0.001 across pain, grip, and hand function), a TPM-enhanced topical ibuprofen gel partnered with Perrigo for the US OTC market, TPM-enhanced oncology injectables partnered with Arthur Group, a TPM-based non-antibiotic livestock feed additive with AB Vista, a TPM-enhanced vitamin K injectable in pre-IND with Athenex, and a TPM-based US recreational cannabis licensing deal with SAAS. Manufacturing is handled through Procaps Group (US) and a Clayton facility.
Avecho's business model is licensing- and milestone-driven rather than commercial. The company has no commercialized products and generates no product revenue; near-term cash inflows consist of equity raises and licensing receipts. A 10-year exclusive Australian development and licensing agreement with Sandoz Group AG, signed in March 2025, delivers a US$3M upfront fee, up to US$16M in development milestones, and 14-19% royalties on Australian net sales, with Sandoz also holding first right of refusal on other international territories. Avecho retains commercial rights for all markets outside Australia and is conducting ongoing licensing discussions for those territories. Capital to date has been raised primarily through ASX-listed equity instruments (an A$11M entitlement offer in April 2023 to fund the Phase III trial, an oversubscribed A$5.06M placement in February 2021 led by Horizon 3 Biotech) rather than traditional venture capital.
Avecho Biotechnology firmographics
Firmographics- Name
- Avecho Biotechnology
- Legal name
- Phosphagenics Limited
- Website
- https://avecho.com.au
- Company type
- Public
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Avecho Biotechnology is an Australian clinical-stage biotech (ASX:AVE) developing a proprietary TPM® tocopheryl phosphate drug delivery platform, with a lead Phase III TPM-enhanced CBD soft-gel capsule for insomnia partnered with Sandoz for Australian commercialization.
- Ownership category
- akta.pro rank
Avecho Biotechnology industry classification
Industry- Product category
- Clinical-Stage Biotechnology / Drug Delivery Platform
- NAICS
- Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)
- SIC
- Pharmaceutical Preparations (2834), Services-Commercial Physical & Biological Research (8731)
- akta.pro primary industry
- Connected Therapeutics & Smart Drug Delivery Monitoring (HLACAFAL)
- akta.pro secondary industry
- Small-Molecule CMC Documentation & Regulatory Support (DMF/CMC) (HLAGAHAM)
Keywords
Where Avecho Biotechnology is headquartered
LocationHeadquarters
- HQ city
- Clayton
- HQ country
- Australia
- HQ region
- Oceania
Offices5 records
Markets served
Avecho Biotechnology business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales
Revenue model
- Licensing & Milestone Payments (Sandoz - Australia): Avecho receives US$3M upfront licensing fee for exclusive commercial rights in Australia, development milestone payments totalling US$16M prior to commercialisation, and royalties on net sales once the CBD capsule is on market. Sandoz holds first right of refusal for other markets.
- International Licensing Royalties: Avecho retains rights to commercialise the product in all territories outside Australia, with ongoing licensing discussions underway. Royalty streams of 14-19% on future sales in the Australian market projected to exceed US$125 million annually.
- Oncology Partnership Revenue Share: Arthur Group pays for all formulation, non-clinical and clinical development; Avecho receives 30% of revenue from licensing and 30% of net profit from commercialisation of enhanced oncology products.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Avecho Biotechnology product offering
Product offeringCore offering
Avecho Biotechnology develops and licenses its proprietary TPM® (tocopheryl phosphate) drug delivery platform — an enhanced form of Vitamin E used to improve the bioavailability, effectiveness, and tolerability of pharmaceutical, cannabinoid, and animal health products. Its lead asset is a TPM®-enhanced CBD soft-gel capsule currently in Phase III clinical trials for insomnia treatment, with commercialization rights licensed to Sandoz for Australia. The company monetizes the platform through upfront licensing fees, milestone payments, and royalties rather than direct product sales.
Product overview
Avecho Biotechnology operates as a biotechnology company with a diversified portfolio built around its proprietary TPM® (tocopheryl phosphate) drug delivery platform. The company's product ecosystem includes the CBD TPM®-Enhanced Soft-Gel Capsule as its lead pharmaceutical candidate targeting insomnia, complemented by topical CBD gel products for pain management, various pharmaceutical programs (oxycodone patches, diclofenac gel, vitamin K injectables), animal health feed additives, and manufacturing services. The portfolio spans human health applications including pharmaceutical, nutraceutical, and animal health segments, with the company leveraging partnerships for manufacturing, distribution (Sandoz), and clinical development.
Differentiator
Problem solved
Functional benefit
Products and services
- TPM® Technology Platform Proprietary drug delivery platform based on tocopheryl phosphate (an enhanced form of Vitamin E), developed over fifteen years and licensed to enhance the delivery, effectiveness, and tolerability of pharmaceutical, cannabinoid, and animal health products.
- TPM®-Enhanced CBD Soft-Gel Capsule for Insomnia Oral soft-gel capsule combining pharmaceutical-grade CBD with TPM® technology, currently in the world's largest Phase III CBD insomnia trial (519 participants). Doses of 75mg and 150mg CBD tested against placebo over 8 weeks at 5 Australian sites. Positive interim analysis completed on June 24, 2026. Designed to be the first OTC CBD insomnia treatment under Australia's Schedule 3 framework. Commercialization rights for Australia licensed to Sandoz AG.
- Topical CBD Gel for Osteoarthritis Pain Topical CBD formulation using TPM® technology for localized pain management in hand osteoarthritis. Phase IIa results demonstrated highly significant improvements in pain reduction, grip strength, hand functionality, and self-reported stiffness/anxiety (p<.001).
- Enhanced Pharmaceutical Products (Oxycodone, Diclofenac, Vitamin K) Diverse pharmaceutical development programs utilizing TPM® delivery technology, including TPM-enhanced oxycodone patches for pain management, diclofenac gel for topical anti-inflammatory treatment, and vitamin K injectable products (phytonadione). Athenex also pursuing US registration of the TPM-enhanced Vitamin K injectable.
- Animal Health Feed Additives (TPM®) TPM®-based non-antibiotic feed additive products designed to enhance feed efficiency and weight gain in livestock animals including poultry, cattle, and pigs, with commercial partnership with AB Vista for market expansion.
- TPM®-Enhanced Topical Ibuprofen Gel Topical gel formulation using TPM® to enhance ibuprofen delivery for pain-related indications, being developed for the US market in partnership with Perrigo. If successful, has potential to become the first topical ibuprofen product approved in the US.
Quantifiable outcome
- Four-times increase in average CBD absorption vs Epidiolex® observed in comparative canine study with no gastrointestinal irritation increase
- +2 more outcomes
Companies that use Avecho Biotechnology
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles5 records
Avecho Biotechnology technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Avecho Biotechnology partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Sandoz Group AGcoreAvecho signed a 10-year exclusive development and licensing agreement with Sandoz Group AG for commercial rights to its Phase III CBD capsule for insomnia in Australia. Avecho receives US$3M upfront, up to US$16M in development milestones, and royalties on net sales. Avecho retains rights for all other territories, with Sandoz granted first right of refusal for those markets. Sandoz is a Swiss global pharmaceutical company with extensive reach and expertise in the Australian market.
- Arthur Group (Arthur Pharma)minorStrategic partnership for development of enhanced cancer drugs using TPM. Arthur Pharma focuses on complex generic, 505B2, and NCE pharmaceutical products and currently develops and manufactures 23 commercial oncology products. Arthur Group pays for all formulation, non-clinical and clinical development; Avecho receives 30% of revenue from licensing and 30% of net profit from commercialisation. Focused on North American, European, and Asian markets.
- Procaps GroupcoreUS-based Contract Manufacturing Organisation manufacturing Avecho's oral CBD soft-gel capsule. Procaps produced 290,000 capsules for Phase III trial and three registration batches for stability studies to define shelf life of the commercial product. Documentation from these batches is a key component of registration packages for the FDA and TGA. Procaps operates in 13 countries across the Americas.
- Lambert Initiative for Cannabinoid Therapeutics (University of Sydney)coreOngoing collaboration with leading Australian research group for cannabinoid therapeutics, expanding to include a series of clinical trials examining new clinical indications for Avecho's CBD soft-gel capsule. Seven different clinical trials using Avecho's products were planned for 2023, including the pivotal Phase III insomnia trial. The studies examine novel indications emerging from pre-clinical and early-stage clinical studies conducted by the Lambert Initiative.
- Athenex Pharmaceutical Division, LLCminorAthenex presented Avecho's TPM-enhanced Vitamin K injectable product (phytonadione) to the FDA in a pre-IND meeting request. Athenex is a global biopharmaceutical company based in the US specializing in delivering high-quality injectable products. Pending a favourable FDA response, Athenex will sign a license and development agreement with Avecho for US registration.
- Perrigo Company plcminorDevelopment agreement with leading global consumer packaged goods company for development of a topical TPM-enhanced ibuprofen gel for the US market. Perrigo plans to conduct a clinical trial in a pain-related indication. If successful, the gel has potential to become the first topical ibuprofen product approved in the US. Perrigo markets major brands including Herron and OsteoEze.
- AB VistaminorPotential commercial partner exploring the utility of TPM in livestock feeds across a range of new applications and assessing the potential for a commercial deal for its inclusion in commercial livestock products. AB Vista is evaluating TPM as a non-antibiotic feed additive product to enhance feed efficiency and weight gain in livestock animals.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
Avecho Biotechnology competitors and assessment
Company assessmentBroad incumbents
- Idorsia Pharmaceuticals: Swiss specialty pharmaceutical company marketing daridorexant (QUVIVIQ) for insomnia. Comparable as an established pharma player targeting the same insomnia indication Avecho is pursuing, and Sandoz's home market provides context for the partnering profile.
- Jazz Pharmaceuticals: Jazz acquired GW Pharmaceuticals and markets Epidiolex®, the only FDA-approved CBD therapeutic. Avecho's lead asset is benchmarked against Epidiolex in canine bioavailability studies, making Jazz the closest commercial comparator for the CBD insomnia space.
- Tilray Brands: Large publicly-traded cannabis company with pharmaceutical-grade cannabinoid manufacturing and a growing portfolio of FDA-track prescription cannabinoid products. Comparable as a broader-market participant in regulated cannabinoid therapeutics.
Others
- Catalent: Global contract development and manufacturing organization (CDMO) used by Avecho for CBD soft-gel formulation optimization. Comparable as the drug-delivery technology infrastructure provider underpinning Avecho's TPM® soft-gel capsule, and as a reference CDMO serving similar cannabinoid pharmaceutical developers.
Direct peers
- Tetra Bio-Pharma: Clinical-stage cannabinoid-derived prescription drug developer focused on inflammatory and CNS conditions. Comparable as a small-cap cannabinoid Rx developer pursuing regulated approvals across multiple indications.
- Incannex Healthcare: Australian-listed clinical-stage cannabinoid pharmaceutical company developing psilocybin, CBD, and other cannabinoid-based therapeutics for sleep apnea, anxiety, and inflammatory conditions. Comparable as an ASX-listed cannabinoid pharma peer with overlapping sleep-disorder research.
- Lexaria Bioscience: Proprietary drug delivery platform (DehydraTECH) focused on improving cannabinoid bioavailability. Direct parallel to Avecho's TPM® strategy of enhancing absorption and pharmacokinetics of cannabinoid actives, and similarly pursuing multiple indication partnerships.
- Zynerba Pharmaceuticals: Clinical-stage cannabinoid therapeutics company developing transdermal CBD formulations for CNS indications including Fragile X syndrome. Directly comparable as a small-cap, clinical-stage cannabinoid drug delivery company pursuing regulatory approvals in similar therapeutic areas.
- Botanix Pharmaceuticals: Australian clinical-stage cannabinoid pharmaceutical company developing synthetic CBD for dermatology (acne) and rosacea. Comparable peer with ASX listing and similar cannabinoid-based prescription development model targeting FDA pathways.
- Cardiol Therapeutics: Clinical-stage pharmaceutical company developing cannabidiol-based therapeutics for inflammatory heart disease. Comparable as a small-cap clinical-stage CBD pharmaceutical developer with a single-asset-focused clinical pipeline.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Avecho Biotechnology social profiles
Digital presenceAvecho Biotechnology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Avecho Biotechnology leadership team
Management profileNumber of profiles
Profiles2 records
Avecho Biotechnology funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Avecho Biotechnology M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Avecho Biotechnology
What does Avecho Biotechnology do?
Avecho Biotechnology develops and licenses its proprietary TPM® (tocopheryl phosphate) drug delivery platform — an enhanced form of Vitamin E used to improve the bioavailability, effectiveness, and tolerability of pharmaceutical, cannabinoid, and animal health products. Its lead asset is a TPM®-enhanced CBD soft-gel capsule currently in Phase III clinical trials for insomnia treatment, with commercialization rights licensed to Sandoz for Australia. The company monetizes the platform through upfront licensing fees, milestone payments, and royalties rather than direct product sales.
Is Avecho Biotechnology a public or private company?
Avecho Biotechnology is a public company. It is classified as public and is currently operating.
When was Avecho Biotechnology founded?
Avecho Biotechnology was founded in 2019. It employs 11 to 50 people.
Where is Avecho Biotechnology based?
Avecho Biotechnology is headquartered in Clayton, Australia, in the Oceania region.
How does Avecho Biotechnology make money?
Three revenue lines are on record. Licensing & Milestone Payments (Sandoz - Australia) is the primary driver. The others are international Licensing Royalties and oncology Partnership Revenue Share.
Who are Avecho Biotechnology's main competitors?
Broad incumbents on record are Idorsia Pharmaceuticals, Jazz Pharmaceuticals and Tilray Brands. Catalent is listed as an others. Direct peers are Tetra Bio-Pharma, Incannex Healthcare, Lexaria Bioscience, Zynerba Pharmaceuticals, Botanix Pharmaceuticals and Cardiol Therapeutics.
Does Avecho Biotechnology have an API?
No public API is recorded for Avecho Biotechnology.
What industry is Avecho Biotechnology in?
Avecho Biotechnology's product category is Clinical-Stage Biotechnology / Drug Delivery Platform. Its primary akta.pro industry code is HLACAFAL, Connected Therapeutics & Smart Drug Delivery Monitoring, with a secondary code of HLAGAHAM, Small-Molecule CMC Documentation & Regulatory Support (DMF/CMC). Its NAICS code is 325412 and its SIC code is 2834.