Epsilon Healthcare has created a new subsidiary called Epsilon Biotech, which the company said would speed up its "innovation pipeline and expand its footprint" across therapeutic and wellness markets.
The new division will focus on developing novel medicine formats and drug technologies, taking the company beyond medicinal cannabis and into higher-margin therapeutic areas.
Managing director Peter Giannopoulos described the move as "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 has begun operations immediately, with early development programs already underway.
Little Green Pharma
Little Green Pharma has entered into a sale and leaseback agreement for its South-West Western Australia production facility, valued at $7.8 million.
The transaction covers the company's 1.3 tonnes per annum GACP indoor cultivation site and GMP-compliant production facility, with LGP set to continue running operations under a head lease until August 2029.
LGP said the proceeds would be directed toward "fund opportunities in Australia and expansion into growth markets in Europe."
Completion of the deal remains subject to buyer due diligence and funding approval.
Neurotech International
Neurotech has entered a partnership with the University of Sydney to further develop its broad-spectrum oral cannabinoid drug therapy NTI164 as a treatment for Rett syndrome.
Professor Wendy Gold will lead the collaboration, which will concentrate on identifying NTI164's mechanism of action through human-derived neuronal models. The work builds on a completed Phase 1 clinical study in Rett syndrome.
Neurotech said the program would help establish how NTI164 influences key disease pathways in Rett syndrome, a rare and severe neurodevelopmental disorder for which treatment options remain limited.
NTI164 has also produced positive data in autism and PANDAS/PANS.
