EVE Health Makes Bold Therapeutics Pivot with Nextract Deal, Tapping Into Multi-Billion-Dollar Markets | ASX 200 Watch

May 01, 2025 02:16 PM AEST | By Team Kalkine Media

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EVE Health Makes Bold Therapeutics Pivot with Nextract Deal, Tapping Into Multi-Billion-Dollar Markets | ASX 200 Watch — Image source: Shutterstock

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Highlights

EVE Health pivots into global therapeutics with Nextract acquisition

Targets erectile dysfunction and period pain markets

Launch plans underway with expansion into MENA region

EVE Health (ASX:EVE) is embarking on a transformative journey, transitioning from functional food products to regulated therapeutic markets through the acquisition of biotechnology firm Nextract. The $3 million deal brings with it a pipeline of innovative health solutions and signals EVE’s ambition to become a serious player in the global pharmaceutical space.

At the core of this strategic move is Nextract’s pioneering oral delivery technology. Its lead candidate is an alcohol-free, orally dissolvable film designed to treat erectile dysfunction (ED) with a rapid 15-minute onset. This positions the product to address a share of the estimated US$5.3 billion global ED market. A second product in the pipeline focuses on dysmenorrhoea, or menstrual pain, targeting a much larger US$10.9 billion market.

Integration of Nextract’s operations began in the March quarter, with EVE Health targeting a nationwide commercial rollout before the end of the year. The launch will be supported through Australia's Special Access Scheme and Authorised Prescriber pathways. The company is also looking to the Middle East and North Africa (MENA) as key international markets, where alcohol-free therapeutic options are culturally preferred and in rising demand due to increasing investment in wellness infrastructure.

This acquisition is expected to significantly boost EVE Health’s technical capabilities in pharmaceutical formulation and solubility science. Beyond immediate product launches, the company is exploring pathways to apply this new expertise to its existing health and wellness brand, Meluka Australia. This could see selected Meluka products transition to being approved by the Therapeutic Goods Administration (TGA) over time, further strengthening EVE Health’s diversified portfolio.

Financially, the company ended the March quarter with $300,000 in cash and has secured firm commitments to raise an additional $1.5 million via share placements. Operating costs remained stable with product and marketing expenditures each at $300,000, and net cash used in operations decreased to $400,000 from $600,000 in the prior quarter.

As investors continue to monitor shifts within the broader S&P/ASX 200, EVE Health’s pivot toward regulated therapeutics could position it as a future contributor to the ASX dividend stocks landscape, especially as it scales its revenue and regulatory footprints across key global markets.

This evolution not only marks a change in direction but also reflects growing demand for innovative, accessible, and culturally aligned therapeutic solutions across both domestic and international landscapes.

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