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Melbourne-based biotech Avecho has just pulled off a big move, and it could change how Aussies tackle sleepless nights.

After years of plugging away on its own, this little biotech just landed a $3 million investment from Swiss pharma company, Sandoz.

Yep, Sandoz… the Swiss-based giant and one of the biggest names in the game.

The deal will give Sandoz exclusive rights to sell Avecho’s CBD (cannabidiol) capsule for insomnia in Australia for the next 10 years.

This capsule, if approved by the TGA, would become the first ever CBD product registered as an over-the-counter sleep aid in the country.

That’s massive, especially when nearly 60% of Aussies say they struggle with sleep. We’re talking millions of tired units, just waiting for something that actually works.

Avecho’s soft-gel CBD capsule isn’t your average sleeping pill. It’s powered by Avecho’s own special tech called TPM, which is basically a souped-up version of Vitamin E.

What that does is help the body absorb the CBD properly, so you get more bang from a smaller dose.

This capsule is currently in a full-blown Phase III trial, with hundreds of people testing it across Australia.

Stamp of approval

But this deal with Sandoz isn’t just about the dough; it’s about what it means.

Sandoz doesn’t back any old Tom, Dick, or Harry – this is a seriously big pharmaceutical player with global reach.

Its investment doesn’t just keep Avecho’s lights on; it’s a huge stamp of approval for the company as well as for the sleep and CBD space more broadly.

Under the deal, Avecho will still own the rights to sell the product in other countries, but Sandoz gets first dibs if things take off globally.

And if the Phase III trial goes to plan, this little capsule could be on Aussie chemist shelves sooner than you think.

“With ample capital to complete our pivotal Phase III trial through to the interim analysis, our primary focus is to advance the study to this key inflection point as swiftly as possible,” said Avecho CEO Dr Paul Gavin.