Avecho finds a new use for its drug delivery technology in the pot market
Health & Biotech
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For months it seemed Avecho (ASX:AVE) was going to pot, figuratively, but now it is literally.
Avecho has a patented drug delivery system called targeted penetration matrix (TPM) which is derived from vitamin E and enhances the solubility and absorption of certain drugs and nutrients.
But now it has a new lease of life thanks to a deal with cannabidiol supplier Purisys. The companies will use Avecho’s TPM technology to develop new oral cannabinoid products.
Essentially, the technology will help cannabinoid-derived products be as efficient as they can be.
Avecho’s chief scientific officer Paul Galvin says this is important for cannabinoid products because of their poor solubility.
Avecho chairman Greg Collier said both the medicinal and consumer cannabis markets were seeing solid interest and investment. Cannabinoids account for 40 per cent of the global cannabis market.
“We believe the addition of TPM will provide commercially advantageous differentiation,” he said.
“This agreement provides both companies with the opportunity to combine their respective expertise in a way that can rapidly bring truly differentiated products to this exciting and growing market.”
Stockhead has contacted the company for further comment.
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