Prominent businessman and investor Professor Charlie Shahin has become the largest shareholder in Vitura Health after increasing his stake to 17.29% via his entity AFO Investments.
The change saw Shahin overtake Elizabeth Sarah Jansen (12.93%) as the company’s top shareholder.
The announcement follows Shahin’s $5.17 million investment earlier this year to help fund Vitura’s acquisition of Candor Medical, a Queensland telehealth business with around 15,000 patients and $30m in annual prescriptions.
Vitura chair Robert Iervasi welcomed the investor’s support, while Professor Shahin said he saw “considerable potential” in the firm and remained committed to its growth.
“I am very pleased to have increased my stake in Vitura Health and to become the company’s largest shareholder,” he said.
Avecho Biotechnology
Avecho Biotechnology has dosed 131 patients in its Phase III clinical trial investigating an oral CBD capsule for the treatment of insomnia.
The company said it is on track to complete recruitment of all 210 patients required for the interim analysis in the second half of 2025, with results expected in early 2026.
Recruitment has accelerated following the activation of new sites in Sydney and the Gold Coast, supported by a licensing agreement with Sandoz struck in March.
Avecho chief executive Dr Paul Gavin said the changes had resulted in a “measurable impact on recruitment”.
“We now have a clear line of sight to our interim analysis, a key milestone for the company,” he said.
Epsilon Healthcare
Epsilon Healthcare reported its December 2024 quarter results, highlighting corporate recovery following the completion of the Deed of Company Arrangement for Epsilon Pharma and Epsilon Clinics.
Receipts from customers rose to $1.48 million, up from $1.29m in the September quarter, while cash on hand increased to $1.57m, up from $1.21m.
Product manufacturing and operating costs fell to $568,000, down from $1.78m, reflecting ATO-related payments in the prior period.
Epsilon Healthcare managing director and chief executive Peter Giannopoulos described the quarter as “a pivotal moment” for the company.
“With the DOCA for Epsilon Clinics and Epsilon Pharma completed, critical legacy issues addressed, and a strengthened financial position, we are now focused on strategic execution,” he said.
“The operational and financial reset we have undertaken was essential, and we are now well positioned to create long-term value for shareholders.”
Subsequent to the release of the financial report, Epsilon announced the sale and leaseback of its Southport manufacturing facility.
Zelira Therapeutics
Zelira Therapeutics has entered into a $650,000 loan agreement with Rocking Horse Capital, secured against its anticipated FY25 R&D tax incentive.
The company said funds will be used to advance the HOPE SPV clinical trial and support working capital.
The facility carries a 17% interest rate and is repayable by November 30 or within 21 business days of receiving its R&D rebate.
Zelira managing director Dr Oludare Odumosu described the arrangement as a “straightforward and effective debt facility.”
“A specialist loan facility of this nature, secured against the R&D rebate is an
attractive form of non-dilutive funding for Zelira,” he said.