EVE Health Group (ASX: EVE) has launched a $3 million takeover bid for Australian biotech company Nextract, signaling a strategic shift from a natural wellness brand to a broader health platform focused on regulated markets. The acquisition will enable EVE to enter the pharmaceutical and nutraceutical sectors, leveraging Nextract’s proprietary oral delivery systems and solubility-enhancing technologies. This move allows EVE to target the global erectile dysfunction (ED) and dysmenorrhoea (period pain) markets, valued at approximately US$5.3 billion and US$10.9 billion, respectively.
Nextract specializes in reformulating existing molecules into new delivery formats, aiming for faster-acting and easier-to-use options for established active pharmaceutical ingredients. Their leading products include an oral strip for ED and a non-hormonal solution for dysmenorrhoea. EVE intends to fund the acquisition with a capital raising of up to $1.5 million and a share consolidation. Upon completion, Nextract’s Damian Wood will become managing director of EVE, with current MD Bill Fry transitioning to a non-executive role. The acquisition is subject to shareholder approval.
