Avecho Biotechnology Limited (AU:AVE) has released an update.
Avecho Biotechnology Limited has announced the commencement of patient dosing in its Phase III Clinical Trial, testing a proprietary CBD soft-gel capsule for the treatment of insomnia, with recruitment across multiple Australian cities. The company is leveraging a financing arrangement with Endpoint Capital to advance funds from expected R&D tax refunds, aiding in the continuation of the trial without the immediate need for dilutive equity raising. Avecho ended the quarter with a strong cash position of A$4.8 million, having invested in R&D and received government R&D grants.
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