Two Australian healthcare penny stocks on watch today - UBI, AVE

Source: Ratanapon Srisuneton, Shutterstock


  • Universal Biosensors has entered into exclusive agreements for the commercialisation and development of its biosensors.
  • Avecho has received ethics approval to conduct an Australian Phase 1 clinical study to characterise CBD absorption profile in healthy participants.

ASX-listed developer of electrochemical cells (strips) Universal Biosensors Inc (ASX:UBI) has entered into exclusive agreements with Deakin and Swinburne to develop and commercialise its biosensors. Another biotech player, Avecho Biotechnology Limited (ASX:AVE), announced a significant development in its cannabidiol (CBD) program with the ethics approval to progress a Phase 1 clinical trial.

Following the key announcements, the share price of these players moved up on the ASX. At AEST 10:39 AM, UBI shares were trading at A$0.675, up by 8.870%, while AVE shares were up 4.545% at A$0.023.

Other healthcare stocks faring well this morning include Exopharm Limited (ASX:EX1), up 9.09%, BARD Life Sciences (ASX:BD1), up by 5.9%, and Anteotech Ltd (ASX:ADO), up 5.66%.

Universal Biosensors signs exclusive agreements

On 13 April 2021, Universal Biosensors announced that it had entered into exclusive agreements with Deakin University’s Institute for Frontier Materials (DIFM) and Swinburne University of Technology.

The Company signed this agreement to-

Source: UBI Announcement, 13 April 2021

The DIFM agreement is for five years for a fixed fee. The deal can be terminated with prior notice of 30 days.

The Swinburne agreement is also a fixed fee deal that ends in February 2022. The agreement can be extended if the parties involved mutually agree.

Copyright © 2021 Kalkine Media Pty Ltd

The Company updated that both the agreements have fees payable by Universal Biosensors, which collectively should not surpass A$300,000 pa.

John Sharman, CEO of UBI, commented-

Avecho obtains Ethics Approval for Phase 1 Clinical Study

Avecho Biotechnology revealed that it had obtained ethics approval for its Phase 1 clinical trial of CBD products. The clinical study would focus on the characterisation of CBD’s absorption profile from its TPM®-enhanced pharmaceutical CBD product in healthy participants.

Avecho’s CBD formulation is currently being produced as a pharmaceutical soft-gel product by Catalent Inc.

The Company disclosed that exact timelines for dosing in the Phase 1 study are subject to the evolving CMC (chemistry, manufacturing, and controls) work at Catalent. The Company anticipates that the timelines to be the early third quarter of 2021.

On this, Dr Paul Gavin, CEO of Avecho commented-

Now, the Company is planning a more extensive development program beyond this Phase 1 clinical trial. This includes the clinical indication that will be targeted in a future pivotal clinical trial, along with the clinical, CMC, regulatory, and safety studies needed to submit a report to the Therapeutic Goods Administration (TGA) for product registration.

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK