Epsilon Healthcare has established a new subsidiary, Epsilon Biotech, which the firm said would accelerate its “innovation pipeline and expand its footprint” in therapeutic and wellness markets.
The subsidiary will develop new medicine formats and drug technologies, expanding the company beyond medicinal cannabis into higher-margin therapeutic markets.
Managing director Peter Giannopoulos said the move marked “a significant milestone” in Epsilon’s evolution.
“This new subsidiary provides a dedicated and agile platform from which Epsilon can accelerate the development of cutting-edge formulations, advanced dosage technologies and next-generation therapeutic solutions,” he said.
Epsilon Biotech will commence operations immediately, with initial development programs underway.
Little Green Pharma
Little Green Pharma has signed an agreement to sell and lease back its South-West Western Australia production facility for $7.8 million.
The deal covers the company’s 1.3 tonnes per annum GACP indoor cultivation site and GMP-compliant production facility, with LGP to continue operating under a head lease through to August 2029.
LGP said proceeds from the sale would be used to “fund opportunities in Australia and expansion into growth markets in Europe.”
The deal is subject to buyer due diligence and funding approval.
Neurotech International
Neurotech has partnered with the University of Sydney to advance its broad-spectrum oral cannabinoid drug therapy NTI164, for Rett syndrome.
The collaboration will be led by Professor Wendy Gold and will focus on defining NTI164’s mechanism of action using human-derived neuronal models. The work follows the successful completion of a Phase 1 clinical study in Rett syndrome.
Neurotech said the program would help clarify how NTI164 modulates key disease pathways in Rett syndrome – a rare and severe neurodevelopmental disorder with significant unmet need.
NTI164 has also generated positive data in autism and PANDAS/PANS.