EVE INVESTMENTS

What EVE INVESTMENTS does

Eve Health Group Limited (ASX: EVE, formerly Eve Investments) is an Australian life sciences company that develops reformulated versions of established pharmaceutical compounds using a proprietary nano-emulsion drug delivery platform. The platform addresses solubility and bioavailability challenges — issues that affect up to 40% of approved drugs — by applying advanced delivery systems (including oral dissolving films and pastilles) to proven molecules approaching patent expiry. Two lead programs are currently commercialised under Australia's TGA Special Access Scheme Category B (SAS B): Dyspro, a medicinal cannabis pastille for dysmenorrhoea and endometriosis-related pain, and Libbo, an oral soluble film formulation of vardenafil for erectile dysfunction. The company also retains Meluka Australia, a portfolio company focused on probiotic gut health products built on the Lactobacillus rhamnosus Beebiotic MAP01 strain.

The company generates revenue by selling reformulated pharmaceutical products through authorised telehealth prescribing pathways in Australia (HubMed and TeleDocs Clinics) and via wholesale distribution through Swayne Distribution for bulk orders by registered health professionals. By working with already-approved compounds and conducting bioequivalence studies rather than phased clinical trials, the company shortens development timelines and reduces regulatory risk. Management's stated medium-term model is licensing-oriented, targeting established distribution partners across Australia and international markets once full TGA registration is achieved. End customers are Australian patients seeking treatment for women's health pain and men's sexual health conditions, accessed through an integrated digital prescribing pathway that combines education, telehealth assessment, prescription and delivery.

The company is headquartered in Subiaco, Western Australia, with 11–50 employees, and is led by CEO Ben Rohr, CSO Dr Stuart Gunzburg (originator of the nano-emulsion platform), and CFO Steven Jackson. In April 2025, the company acquired biotech Nextract for AUD 3 million to enter the erectile dysfunction market and pivot from a natural wellness positioning into a broader reproductive and sexual health platform. Subsequent capital raises (AUD 1.1 million in January 2026 and AUD 0.9 million in March 2026) have been deployed to accelerate commercial rollout of Dyspro and Libbo, both of which were commercially launched in February 2026.

Name

EVE INVESTMENTS

Legal name

Eve Health Group Limited

Website

https://evehealthgroup.com.au

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

Eve Health Group (ASX: EVE) is an Australian life sciences company that reformulates established pharmaceutical compounds using proprietary nano-emulsion drug delivery technology, currently commercialising Dyspro (medicinal cannabis pastilles for dysmenorrhoea) and Libbo (vardenafil oral dissolving film for erectile dysfunction) in Australia via TGA SAS B.

Ownership category

akta.pro rank

Product category

Pharmaceutical Reformulation

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Women’s Health & Fertility Therapeutics (Digital) (HLACANAK)

akta.pro secondary industry

DTx/SaMD Deployment, Integration & Reimbursement Enablement (HLACANAO)

Keywords

• Pharmaceutical reformulation
• Drug delivery technology
• Bioavailability enhancement
• Medicinal cannabis products
• Specialty pharmaceuticals

Headquarters

HQ city

Subiaco

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain, Others

Revenue model

1. Pharmaceutical Product Sales: Revenue generated from the sale of reformulated pharmaceutical products including Dyspro (medicinal cannabis pastilles) and Libbo (vardenafil oral dissolving film) distributed through telehealth prescribing pathways in Australia under TGA Special Access Scheme Category B.
2. Licensing Revenue: Future licensing-focused model targeting established distribution partners across Australia and international markets for fully TGA-registered pharmaceutical products.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Eve Health Group (ASX: EVE) is an Australian life sciences company that reformulates established pharmaceutical compounds using proprietary nano-emulsion drug delivery technology to improve bioavailability and therapeutic performance. Its commercial products include Dyspro (medicinal cannabis pastilles for dysmenorrhoea and endometriosis pain) and Libbo (oral dissolving film formulation of vardenafil for erectile dysfunction), distributed through telehealth partners and wholesale channels under the TGA Special Access Scheme Category B pathway.

Product overview

Eve Health Group operates as a life sciences company with a proprietary pharmaceutical reformulation technology platform. The company develops improved formulations of established pharmaceutical compounds using nano-emulsion drug delivery technology to enhance bioavailability. Its core products include Dyspro (medicinal cannabis pastilles for dysmenorrhoea and endometriosis) and Libbo (oral soluble film formulation of vardenafil for erectile dysfunction), both currently distributed via TGA Special Access Scheme Category B through telehealth partners. The company also offers a Health Professionals Portal for prescribing information and clinical resources, and has a portfolio company Meluka Australia focused on probiotic gut health products.

Differentiator

Problem solved

Functional benefit

Brands

• Dyspro: Medicinal cannabis pastille product for dysmenorrhoea and endometriosis pain, available via TGA Special Access Scheme Category B.
• Libbo
• The Stiff Issue
• Reclaim My Cycle

Products and services

• Dyspro A prescription medicinal cannabis pastille formulated to provide relief for dysmenorrhoea (period pain) and endometriosis-related pain. Distributed via TGA Special Access Scheme Category B through telehealth partners HubMed and TeleDocs Clinics, targeting Australian women suffering from menstrual and endometriosis-related pain.
• Libbo An oral soluble film formulation of vardenafil designed for on-demand treatment of erectile dysfunction. Currently supplied in Australia as an unapproved prescription medicine through authorised telehealth prescribing pathways, with plans to pursue full TGA registration. Targets men with erectile dysfunction seeking convenient, faster-onset treatment.
• Health Professionals Portal A verified-access portal for Australian registered health professionals providing prescribing information, TGA-approved Product Information and Consumer Medicine Information documents, SAS B support packs, and clinical resources for Dyspro and Libbo. Enables health professionals to set up accounts, access clinical materials, and place orders via Swayne Distribution.
• Meluka Australia Gut Health Products A wellness portfolio brand under the Eve Health Group corporate umbrella, specialising in gut health products powered by proprietary probiotic strain Lactobacillus rhamnosus Beebiotic MAP01, including P3 Gut Builder postbiotic tonic and gut nutrition powders. Operates as a separate consumer wellness brand.

Quantifiable outcome

• Up to 40% of approved drugs and 90% of pipeline candidates face bioavailability challenges due to poor solubility
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• HubMedcoreChannel Partner/ Reseller/ Distributor · 19 November 2025Telehealth services agreement with HubMed to enhance quality and continuity of care for patients using Eve's therapeutic products. HubMed provides free, fully bulk-billed telehealth consultations for patients seeking prescriptions for Dyspro (dysmenorrhoea) and Libbo (erectile dysfunction).
• TeleDocs ClinicscoreChannel Partner/ Reseller/ DistributorTelehealth partner providing affordable consultations with Medicare rebates for patients accessing Dyspro and Libbo prescriptions. Available through Galaxy clinic booking platform.
• Swayne DistributioncoreChannel Partner/ Reseller/ DistributorDistribution partner for Australian registered health professionals to place bulk orders for Eve's pharmaceutical products. Health professionals can set up accounts and place orders via swayne.com.au with bulk buy discounts available.
• Meluka AustraliaminorStrategic or Co-development PartnerPortfolio company - wellness company specialising in gut health products powered by proprietary probiotic strain Lactobacillus rhamnosus Beebiotic MAP01. Sister brand under Eve Health Group corporate umbrella.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vitura Health: Vitura Health (formerly The Hydration Pharmaceuticals Company, ASX: VIT) operates in the medicinal cannabis and wellness space in Australia, comparable as an ASX-listed peer in the Australian cannabis therapeutics market.
• Emyria: Emyria (ASX: EMD) is an Australian drug development and clinical services company with a focus on proprietary formulations targeting underserved therapeutic areas, sharing Eve Health's reformulation approach and ASX micro-cap profile.
• Cann Group: Cann Group (ASX: CAN) is an Australian medicinal cannabis cultivation and product developer offering comparable TGA-regulated cannabinoid therapeutics, relevant alongside Eve Health's Dyspro product in the same regulatory pathway.
• Zelira Therapeutics: Zelira Therapeutics (ASX: ZLD, formerly Zelda Therapeutics) is an Australian-listed clinical-stage cannabinoid therapeutics company, comparable as another ASX-listed developer in the medicinal cannabis therapeutic space.
• SUDA Pharmaceuticals: SUDA Pharmaceuticals (ASX: SUD) is an Australian drug delivery company focused on reformulating approved drugs using its OroMist oral spray technology, sharing Eve Health's core strategy of improving delivery of established molecules for better therapeutic outcomes.
• Little Green Pharma: Little Green Pharma (ASX: LGP) is an Australian medicinal cannabis company producing a range of cannabis-based medicines, comparable to Eve Health's Dyspro as a vertically integrated Australian cannabis therapeutic provider.
• Bod Australia: Bod Australia (ASX: BDA) develops and distributes medicinal cannabis and natural health products, relevant as another ASX-listed Australian medicinal cannabis player in adjacent therapeutic categories.
• Incannex Healthcare: Incannex Healthcare (ASX: IHL) is an Australian clinical-stage pharmaceutical company developing cannabinoid and psychedelic therapies, comparable as another ASX-listed Australian medicinal cannabis therapeutic developer with similar regulatory strategy.
• Avecho Biotechnology: Avecho Biotechnology (ASX: AVE) develops and commercialises proprietary drug delivery technologies including tocopherol phosphate-based formulations, directly comparable to Eve Health's technology-led approach to pharmaceutical reformulation in Australia.

Broad incumbents

• Eton Pharmaceuticals: Eton Pharmaceuticals (NASDAQ: ETON) is a US specialty pharma company that reformulates and repackages approved pharmaceutical products for improved delivery, sharing Eve Health's broad strategy of leveraging proprietary technology to create commercial differentiation for established molecules.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EVE INVESTMENTS