Prominent businessman and investor Professor Charlie Shahin has claimed the position of largest shareholder in Vitura Health after lifting his holding to 17.29% through his investment vehicle AFO Investments.
The move puts Shahin ahead of Elizabeth Sarah Jansen, who holds a 12.93% stake, making him the company's leading investor.
The development comes after Shahin committed $5.17 million earlier this year to support Vitura's purchase of Candor Medical, a Queensland-based telehealth provider serving around 15,000 patients and generating $30m in annual prescriptions.
Vitura chair Robert Iervasi expressed appreciation for the investor's backing, while Professor Shahin pointed to the company's growth potential as the driver behind the decision.
"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 enrolled 131 patients in its Phase III clinical trial examining an oral CBD capsule as a treatment for insomnia.
The company said it expects to complete recruitment of the full 210 patients needed for the interim analysis in the second half of 2025, with results anticipated in early 2026.
Enrolment rates have picked up since new trial sites opened in Sydney and the Gold Coast, bolstered by a licensing agreement with Sandoz finalised 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 released its December 2024 quarterly results, pointing to signs of corporate recovery in the wake of the completed Deed of Company Arrangement for Epsilon Pharma and Epsilon Clinics.
Customer receipts climbed to $1.48 million from $1.29m in the September quarter, while cash on hand grew to $1.57m, up from $1.21m.
Product manufacturing and operating costs dropped to $568,000 from $1.78m, a fall attributed to ATO-related payments recorded in the previous 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."
After the financial report was published, Epsilon announced the sale and leaseback of its Southport manufacturing facility.
Zelira Therapeutics
Zelira Therapeutics has signed a $650,000 loan agreement with Rocking Horse Capital, with the facility secured against the company's expected FY25 R&D tax incentive.
The company said the proceeds will go toward advancing the HOPE SPV clinical trial and maintaining working capital.
The loan carries a 17% interest rate and must be repaid by November 30 or within 21 business days of the company 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.
