Avecho Biotechnology (ASX:AVE) jumps 80 pc after joining CBD clinical trials

• Avecho Biotechnology (AVE) shares have rocketed as the company joins Australia’s longest-running medicinal cannabis study
• The CA Clinics Observational Study (CACOS) will test the performance of AVE’s oral cannabidiol TPM formulation across 3000 patients
• More specifically, the study aims to further previous successful demonstrations of the formula’s ability to aid the absorption of CBD medications
• Recruitment is set to begin immediately to maximize the number of patients dosed with both CBD TPM and other commonly prescribed formulas to allow performance comparison
• A company spokesperson said increasing the absorption of cannabinoid medications could create room for more CBD products on the market at a reduced cost and with greater therapeutic potential
• AVE shares have soared 83.3 per cent on the back of the announcement, trading at 3.3 cents each

Avecho Biotechnology (AVE) shares have rocketed as the company joins Australia’s longest-running medicinal cannabis study.

The CA Clinics Observational Study (CACOS) will test the performance of AVE’s oral cannabidiol TPM formulation across 3000 patients in Australia.

More specifically, the study aims to further previous successful demonstrations of the formula’s ability to aid the absorption of CBD medications and gain real-word feedback from patients during their medicinal cannabis therapy.

Recruitment is set to begin immediately and throughout 2021 to maximize the number of patients dosed with both CBD TPM and other commercial formulas for comparative purposes.

Avecho Chief Executive Paul Gavin said increasing the absorption of cannabinoid medications could create room for more CBD products on the market at a reduced cost and with greater therapeutic potential.

“This trial is an important step in gathering real-world evidence from patients.
Entering into an existing trial framework provides Avecho with both cost and speed advantages,” he explained.

AVE shares have soared 83.3 per cent on the back of the announcement, trading at 3.3 cents each at 11:16 am AEDT.