Not everything has delivered“The ASX has its opportunities, but...

Not everything has delivered

“The ASX has its opportunities, but delivery systems don’t get much awareness in Australia,” Gelteq’s Givoni says.

“Money raising in Australia is not that easy. Opening it up to the US gave us a lot more capital.”

One reason may be that there has been a few ASX drug delivery ‘whoopsies’ along the way.

Take Suda, which developed an oral spray delivery platform called Oromist.

Suda won TGA approval for its insomnia treatment, Zolpimist. But failed to fire commercially.

These days, Suda is known as Arovella Therapeutics (ASX:ALA) and is developing unrelated cancer immunology treatments.

Phosphagenics had a skin beauty range based on tocopheryl phosphate mixture, TPM, to enable more efficient absorption through the skin.

The company fell victim to an infamous fraud perpetrated by CEO Esra Ogru and other parties.

Now called Avecho (ASX:AVE), the company has little resemblance to its predecessor, but TPM lives on. The substance is being used in Aveco’s phase II trial using cannabis to treat insomnia.