- Avecho Biotechnology (AVE) completes the development of its first-generation proprietary Tocopheryl Phosphate Mixture (TPM) gummies containing cannabinoids
- The company reported the TPM cannabinoid gummies out-perform standard products with faster onset and greater effect
- AVE says it will leverage the advantages of its proprietary CBD gummies in the North American cannabis markets, which make up 13 per cent of the legal cannabis market with sales of more than US$3 billion
- Additionally, the company announces it’s in a strong position to initiate product discussions for the Australian medicinal cannabis market
- AVE shares are trading at 0.6 cents at 1:50 pm AEST
Avecho Biotechnology (AVE) has completed the development of its first-generation proprietary Tocopheryl Phosphate Mixture (TPM) gummies containing cannabinoids (CBD).
AVE reported it has optimised the composition and performance of its gummies through the use of TPM, which is derived from Vitamin E and has been proven to increase the absorption of cannabinoids.
Avecho claims the chewable, jelly-like gummies outperform standard gummies with a faster onset and a greater magnitude of effect. The products are made from glycerin and gelatin and can hold a variety of medications or nutraceutical ingredients.
AVE said that gummies have become an increasingly popular alternative to taking CBD because they lack the respiratory issues associated with smoking and vaping.
Medical uses for CBD gummies include neurological and psychiatric disorders, which AVE said is becoming a key driver of the North American CBD gummy market.
Avecho CEO Doctor Paul Gavin said the company’s fast-acting cannabinoid gummy would be positioned to offer a range of therapeutic indications, including pain, anxiety, and sleep.
“The rapid onset was particularly exciting for us, as it demonstrated the ability of TPM to enhance buccal drug absorption, which is drug absorption directly through the inside of the cheeks into the bloodstream,” Dr Gain said.
“We have always suspected TPM had the appropriate chemistry to promote buccal absorption but have not previously worked with a dosage form appropriate for this route of administration.”
Moving forward, Avecho plans to leverage the advantages of its proprietary CBD gummies within the North American consumer and recreational markets.
Additionally, the company has announced it’s in a strong position to initiate product discussions for the Australian medicinal cannabis market.
Cannabis edibles have continued to grow in popularity amongst consumers in the US and Canada, making up 13 per cent of the legal cannabis market, with sales of more than US$3 billion.
AVE shares were trading at 0.6 cents at 1:50 pm AEST.