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- Avecho Biotechnology (AVE) has entered a supply agreement with Tasmanian Alkaloids (TasAlk) for the provision of natural medicinal cannabis products
- TasAlk has agreed to supply products to Avecho for research and development
- Avecho will investigate how its targeted penetration max (TPM) technology can increase the oral absorption of natural cannabinoids from medicinal cannabis
- This agreement follows a supply agreement signed with Purisys to create new oral cannabinoid products
- Avecho is up 50 per cent on the market today, trading for 0.9 cents per share
Avecho Biotechnology (AVE) has entered a supply agreement with Tasmanian Alkaloids (TasAlk) for the provision of natural medicinal cannabis products.
TasAlk has agreed to supply natural medicinal cannabis products to Avecho for research and development.
Avecho will then investigate how its targeted penetration max (TPM) technology can increase the oral absorption of natural cannabinoids from medicinal cannabis.
Under the agreement, Avecho has agreed to purchase future commercial supplies of some specific natural medicinal cannabis products from TasAlk once they are commercialised.
Avecho develops and commercialises human health, animal health and personal care products using its proprietary drug delivery system, TPM.
On the other hand, TasAlk is one of the world-leading manufacture and exporter of controlled substance extracts, which includes natural medicinal cannabis products.
This agreement follows the supply agreement signed with Purisys to create new oral cannabinoid products.
“As the use of natural cannabis extracts expands, the lack of differentiation between products is already becoming apparent,” Avecho Executive Chairman Greg Collier said.
“Avecho’s TPM may offer a unique solution, with the potential for patent protection, for companies striving to better differentiate their own medicinal cannabis product in this already “busy” market place,” he added.
TasAlk Chief Operating Officer Doug Blackaby said this agreement is a win-win for both companies.
“We have invested heavily in building high capacity to extract and supply quality GMP full-plant extract and isolates and are keen to support companies that have technologies to turn these into market-leading differentiated products,” he said.
“We see a growing number of companies interested in having us extract naturally derived cannabinoids for them and also looking for ways to formulate and commercially differentiate their medicinal cannabis products,” he added.
Avecho is up 50 per cent on the market today, trading for 0.9¢ per share at 12:50 pm AEST.
