PharmaTher Enters Into Research Collaboration with Revive Therapeutics for Psilocybin and panaceAI™ Psychedelic Discovery A...
November 18 2020 - 7:00AM
PharmaTher Inc., a wholly-owned subsidiary of Newscope Capital
Corporation (“PharmaTher”) (CSE: PHRM) and a specialty life
sciences company focused on the research and development of
psychedelic pharmaceuticals, is pleased to announce it has entered
into an exclusive research collaboration agreement with Revive
Therapeutics Ltd. (“Revive”) (CSE: RVV, USA: RVVTF), a specialty
life sciences company focused on the research and development of
therapeutics for unmet medical needs, to expand Revive’s
development plans with psilocybin to treat cancer and to discover
novel uses of undisclosed psychedelic compounds.
PharmaTher recently announced the filing of a
U.S. provisional patent application outlining the potential novel
use of psilocybin to treat cancer, which was discovered by
panaceAI™, PharmaTher’s proprietary drug repurposing artificial
intelligence platform. The patent application, entitled “Use of
Psilocybin in the Treatment of Cancers”, outlines psilocybin’s
potential use for Liver Carcinoma, Melanoma, Breast Neoplasms,
Kidney Neoplasms and Acute Myeloid Leukemia.
"We are excited to partner with Revive
Therapeutics on our psilocybin cancer program and on panaceAI™ to
unlock the potential novel uses of psychedelic compounds in
diseases that have sub-optimal or no treatment options,” said Fabio
Chianelli, CEO of PharmaTher Inc. “We have been focused on
advancing the clinical development of ketamine in the treatment of
Parkinson’s disease, while also discovering novel uses of
psychedelics using panaceAI™ with the aim to partner these
developments. The partnership with Revive allows us to focus on
expanding our ketamine programs such as the combination of ketamine
with an FDA approved drug and the delivery of ketamine via our
proprietary microneedle delivery technology targeting large market
opportunities in depression, post-operative and neuropathic pain
and disorders of the brain and nervous system.”
The research collaboration with Revive is
PharmaTher’s first partnership with panaceAI™ and it validates
PharmaTher’s business model in discovering novel uses of
psychedelics and partnering these discoveries with life sciences
companies seeking to expand their product pipeline with
psychedelics.
"Revive continues to be focused on developing
novel uses for psilocybin that leverages our proprietary oral thin
film delivery technology as a differentiated therapeutic approach,"
said Michael Frank, CEO of Revive. "We are excited to advance the
development of PharmaTher’s recent discovery in the potential of
psilocybin to treat certain cancers and leveraging PharmaTher’s
panaceAI™ discovery AI platform to discover new uses of undisclosed
psychedelic compounds to expand our psychedelics drug
pipeline."
The collaboration will give Revive the
exclusivity to advance the research of psilocybin in the treatment
of cancer and leverage PharmaTher’s panaceAI™ psychedelic discovery
AI platform to screen, identify and evaluate undisclosed
psychedelic compounds directed at pre-specified targets for use
with Revive’s drug delivery technology.
About PharmaTher Inc.
PharmaTher Inc., a wholly-owned subsidiary of
Newscope Capital Corporation (CSE: PHRM), is a specialty life
sciences company focused on the research and development of
psychedelic pharmaceuticals. PharmaTher repurposes psychedelic
pharmaceuticals, such as ketamine and psilocybin, for FDA approval
to treat disorders of the brain and nervous system. Our goal is to
advance the commercialization of panaceAI™, our drug repurposing
artificial intelligence platform, and our ketamine focused product
pipeline in the treatment of Parkinson’s Disease, depression, and
pain. Learn more at: PharmaTher.com and
follow us
on Facebook, Twitter and LinkedIn.
About Revive Therapeutics
Ltd.Revive is a life sciences company focused on the
research and development of therapeutics for infectious diseases
and rare disorders, and it is prioritizing drug development efforts
to take advantage of several regulatory incentives awarded by the
FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare
Pediatric Disease designations. Currently, the Company is exploring
the use of Bucillamine for the potential treatment of infectious
diseases, with an initial focus on severe influenza and COVID-19.
With its recent acquisition of Psilocin Pharma Corp., Revive is
advancing the development of Psilocybin-based therapeutics in
various diseases and disorders. Revive’s cannabinoid pharmaceutical
portfolio focuses on rare inflammatory diseases and the company was
granted FDA orphan drug status designation for the use of
Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and
to treat ischemia and reperfusion injury from organ
transplantation. For more information, visit
www.ReviveThera.com.For more information, please
contact:Fabio ChianelliChief Executive OfficerPharmaTher Inc.Tel:
1-888-846-3171Email: info@pharmather.comWebsite: www.pharmather.com
Neither the Canadian Securities Exchange nor its Regulation
Services Provider have reviewed or accept responsibility for the
adequacy or accuracy of this release.Cautionary Statement
This press release contains ‘forward-looking
information’ within the meaning of applicable Canadian securities
legislation. These statements relate to future events or future
performance. The use of any of the words “could”, “intend”,
“expect”, “believe”, “will”, “projected”, “estimated”, “potential”
and similar expressions and statements relating to matters that are
not historical facts are intended to identify forward-looking
information and are based on the Newscope Capital Corporation’s
(the “Company) current belief or assumptions as to the outcome and
timing of such future events. Forward-looking information in this
press release includes information with respect to U.S. patent
application of psilocybin to treat cancer, psychedelic drug
repurposing, drug combinations and discovery, U.S. Food and Drug
Administration (“FDA”) approval, panaceAI™, psilocybin and ketamine
programs towards human clinical studies under the FDA regulatory
pathway and product developments. Forward-looking information is
based on reasonable assumptions that have been made by the Company
at the date of the information and is subject to known and unknown
risks, uncertainties, and other factors that may cause actual
results or events to differ materially from those anticipated in
the forward-looking information. Given these risks, uncertainties
and assumptions, you should not unduly rely on these
forward-looking statements. The forward-looking information
contained in this press release is made as of the date hereof, and
Company is not obligated to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws. The
foregoing statements expressly qualify any forward-looking
information contained herein. Factors that could cause actual
results to differ materially from those anticipated in these
forward-looking statements are described under the caption “Risk
Factors” in Company’s management’s discussion and analysis for the
period of August 30, 2020 (“MD&A”), dated October 1, 2020,
which is available on the Company’s profile
at www.sedar.com.
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