Scienza e Tecnologia
Avecho and Sandoz enter exclusive license and development agreement to commercialise CBD for insomnia in Australia
Sandoz has agreed to an upfront licensing fee of US$3M (approx. A$4.8M [1]) for the exclusive commercial rights to the CBD product for insomnia in Australia . Avecho will continue to fund and oversee the ongoing Phase III clinical trial. Upon successful completion, Avecho and Sandoz will collaborate to secure TGA regulatory approval. Sandoz will purchase finished product from Avecho and assume responsibility for the product's commercialisation, including marketing and distribution in Australia . Avecho is eligible for development milestone payments totalling US$16M prior to commercialisation and will receive tiered royalties ranging from 14% to 19% on net sales once on market.
: " ."
The Agreement as an initial term of 10 years, with automatic extensions for two further renewal terms of two years each, unless terminated by agreement between both parties. The Company also confirms that the Agreement is otherwise subject to standard terms and conditions typical of a contract of this nature.
Avecho will hold an investor webinar for shareholders and all other interested parties to provide more detail on this major milestone for the company.
CEO, Dr Paul Gavin , will present at 11.00am (AEDT) on Tuesday 4 March 2025 .
Register to attend the presentation at the following link:
https://us02web.zoom.us/webinar/register/WN_t4VmfT8RTX-0FexBBLJ_6Q
A recording will be available at the above link shortly after the conclusion of the live session, and the replay will also be available via the Company's website and social media channels.
Questions can be submitted on the day or sent in advance to matt@nwrcommunications.com.au.
This announcement has been authorised by the Board of Directors of Avecho Biotechnology Limited.
See more here - avecho.com.au
View original content:https://www.prnewswire.co.uk/news-releases/avecho-and-sandoz-enter-exclusive-license-and-development-agreement-to-commercialise-cbd-for-insomnia-in-australia-302390766.html