EVE Raises $1M, Acquires Nextract, and Submits First Commercial Order for Dyspro
EVE Health Group has completed its acquisition of Nextract, raised $1 million to fund manufacturing, and achieved key regulatory and commercial milestones for its pharmaceutical products targeting erectile dysfunction and dysmenorrhea.
- Acquisition of Nextract completed, securing solubility delivery IP
- Raised $1 million via placement and share purchase plan
- Entered high-growth markets with Libbo and Dyspro products
- First commercial order for Dyspro submitted, manufacturing underway
- National prescribing agreement signed with TeleDocs for pharmacy network
Strategic Acquisition and Capital Raise
In a transformative move, EVE Health Group has completed the acquisition of 100% of Nextract Pty Ltd, a biotech firm specialising in solubility-enhanced drug delivery systems. This acquisition not only brings valuable intellectual property and formulation expertise in-house but also marks EVE’s decisive entry into regulated pharmaceutical markets. To support this expansion, the company raised $1 million through a placement and share purchase plan at $0.036 per share, providing essential funding for manufacturing and product rollout.
Targeting Multi-Billion Dollar Markets
EVE is positioning itself in two substantial global markets with its lead products – Libbo, an oral-strip treatment for erectile dysfunction targeting a $5.3 billion US market, and Dyspro, a chewable gummy designed for dysmenorrhea, addressing a $10.9 billion global market. Both products have cleared significant regulatory hurdles, enabling prescription under Australia’s SAS B and Authorised Prescriber schemes, and stability testing has confirmed promising shelf lives, two years for Libbo and one year for Dyspro.
Commercial and Distribution Progress
Post-quarter, EVE submitted its first commercial purchase order for Dyspro, marking a critical operational milestone as manufacturing ramps up. The company has also inked a national prescribing agreement with TeleDocs, a telehealth provider that will facilitate prescriptions and education through a network of over 3,500 pharmacies across Australia. While distribution partnerships are still being finalised, EVE is actively evaluating logistics providers to ensure regulatory compliance and scalable delivery infrastructure.
Leadership Realignment and Financial Health
Leadership changes accompany this growth phase, with Nextract founder Dr Stuart Gunzburg appointed as Chief Scientific Officer and Executive Director, bringing deep formulation expertise. Damian Wood is set to become CEO, adding commercial and regulatory experience, while long-serving Managing Director Bill Fry transitions to a non-executive role. Financially, EVE reported $0.9 million cash at bank as of June 30, 2025, with improved operating cash flow and reduced costs, though the company’s runway remains limited as it prepares for commercial rollout in Q4 2025.
Looking Ahead
With manufacturing underway and regulatory approvals secured, EVE is poised to commence commercial rollout of Libbo and Dyspro later this year. The company’s expanded formulation capabilities and strategic partnerships set the stage for growth, but finalising distribution channels and scaling operations will be critical next steps to watch.
Bottom Line?
EVE’s acquisition and product milestones set the stage for a pivotal commercial launch, but execution risks remain as distribution partners are finalized.
Questions in the middle?
- Who will be the final distribution partner for Dyspro and Libbo, and how will this impact market access?
- How quickly can EVE scale manufacturing to meet anticipated demand in the US and Australian markets?
- What are the commercial rollout timelines and expected revenue trajectories for Libbo and Dyspro?