EVE Health Group signs binding agreement to commercialise men’s sexual health range in Australia
EVE Health Group (ASX: EVE) has signed a binding Master Compounding and Profit Share Agreement with Optimal Pharmacy Plus Stafford (Optimal) to commercialise its proprietary men’s sexual health range in Australia. The agreement, dated 10 November 2026, sets up a commercial pathway rather than revenue already in hand.
Key points from the announcement:
- Capital-light model: EVE supplies its proprietary, patent-pending technology, and the pharmacy partner compounds and dispenses the product.
- Profit share: EVE is entitled to 75% of the profit available for distribution after direct costs of compounding and delivery.
- Intellectual property: EVE retains full ownership of its patent-pending technology and related intellectual property.
- Pipeline: A broader portfolio of potential compoundable products, built on EVE’s technology, is to be assessed.
The Agreement is separate from, and does not affect, the Libbo® vardenafil oral soluble film program, which continues along its planned bioequivalence and registration pathway.
Ben Rohr, Chief Executive Officer
“This Agreement is an important milestone for EVE… We keep full ownership of our IP, we establish a pathway to revenue, and we retain the option to pursue a registered product as well. We see this as the first step in unlocking value from our formulation technology.”
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How the capital-light model works
Who does what
EVE supplies the technology, technical know-how and commercial support. Optimal is responsible for sourcing ingredients, compounding, dispensing and delivery.
The range is based on EVE’s patent-pending nano-emulsion technology, designed to treat both erectile dysfunction and premature ejaculation. Under the capital-light structure, EVE can earn revenue from its intellectual property without the cost and time of building its own compounding operation, while keeping the option to pursue a registered product in the future.
The registered route runs through a pilot pharmacokinetic study of the Libbo vardenafil film, the first clinical step toward bioequivalence and registration, which also captures patient-reported tolerability.
Profit share mechanics
Profit available for distribution is shared 75% to EVE and 25% to Optimal. The key calculation terms are:
- Starting point: net patient revenue, excluding GST, refunds and chargebacks.
- Deductions: the direct costs of compounding and delivery, being ingredients, packaging, delivery and a fixed per-unit labour rate.
- No mark-up: direct costs carry no margin or mark-up, and all rebates and savings are passed through.
- Telehealth fees: support fees paid to telehealth partners for their services are met from EVE’s 75% share.
There are no upfront payments or fixed fees payable by EVE under the Agreement.
Market backdrop: why men’s sexual health matters
Compounded medicines are prepared by a pharmacist for an individual patient against a valid prescription. They are not entered on the Australian Register of Therapeutic Goods and have not been assessed by the Therapeutic Goods Administration for safety, quality or efficacy.
EVE describes men’s sexual health as a large and growing market, one that patients increasingly access through telehealth. An Australian study of more than 100,000 men aged 45 and over, published in the Medical Journal of Australia in 2013, found that around 61% reported some degree of erectile dysfunction. Around one in three reported moderate or complete erectile dysfunction.
Globally, erectile dysfunction was projected to affect around 322 million men by 2025, a projection from a 1999 paper in BJU International. Coherent Market Insights estimates the global erectile dysfunction treatment market at approximately US$5.7 billion in 2026.
Key terms, exclusivity and what comes next
Term and exclusivity
Optimal’s appointment is exclusive in Australia for the initial products from first supply, and Optimal must not compound or supply competing formulations.
The initial term is two years from first supply. After that, the Agreement renews automatically for successive 12-month periods unless either party gives 90 days’ notice before the end of the current term.
The termination rights are:
- Unremedied material breach: either party may terminate on 30 days’ notice.
- Insolvency or loss of a necessary licence or approval: either party may terminate immediately.
- Delayed first supply: EVE may terminate if first supply has not occurred within three months of signing (other than due to EVE’s default).
- Change in law: either party may terminate if a change in law or regulatory direction makes the arrangement unlawful and the parties cannot agree changes within 30 days.
The Agreement otherwise contains terms customary for an agreement of this nature, including quality, safety reporting, confidentiality and intellectual property protection provisions.
What the Agreement does not include
The Agreement does not include minimum volumes or guaranteed revenue. EVE is not yet able to estimate the revenue the Agreement may generate, which will depend on the timing of first supply, prescribing decisions by independent clinicians, patient demand, pricing and costs.
First supply is subject to conditions, including completion of technology transfer and validation.
What happens next for EVE
The announcement points to the following steps:
- EVE will work with Optimal to complete the readiness steps for first supply, including technology transfer and validation. No date is stated.
- EVE will engage telehealth partners to reach patients. No date is stated.
- EVE may terminate if first supply has not occurred within three months of the 10 November 2026 signing (other than due to EVE’s default).
- EVE’s broader portfolio of potential compoundable products is to be assessed.
Prescribing decisions will remain with independent clinicians. Subject to commercial agreement and applicable regulatory requirements, the Company considers that the same model may support further compounded products over time, and the ability to access international markets through similar channels.
Investors exploring the pipeline beyond men’s health can read our detailed coverage of EVE’s nano-emulsion pipeline, which sets out the cardio-metabolic reformulation targets, partner discussions and key risks at the company’s current market capitalisation.
Ready to Explore EVE Health Group’s Men’s Sexual Health Opportunity?
EVE Health Group has signed a binding agreement with Optimal Pharmacy Plus Stafford to commercialise its patent-pending men’s sexual health range in Australia. The capital-light model delivers a 75% profit share while EVE retains full ownership of its intellectual property.
Discover how this pathway sits alongside the Libbo® vardenafil film program by visiting the EVE Health Group website. Review the company’s technology, pipeline and latest updates before making your next investment decision.