Revive Therapeutics Advancing Drug Delivery Technology for Psychedelics
August 11 2020 - 8:40AM
Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, US:
RVVTF), a specialty life sciences company focused on the research
and development of therapeutics for medical needs and rare
disorders, is pleased to announce, further to its press release of
June 12, 2020, that under its sponsored research partnership
agreement entered with the Reed Research Group out of the
University of Wisconsin-Madison to evaluate novel formulations of
psilocybin, the Company has received the first set of orally
dissolvable thin film strips initially to be used to deliver
psilocybin and subsequently additional psychedelic-derived
medicines.
“We are very pleased about the progress we have
achieved to date and this technical milestone for our drug delivery
technology specifically in the development of an orally dissolvable
thin film strip for psilocybin, which will be used in future human
clinical studies,” said Michael Frank, CEO of Revive.
“This is the first time that we have applied our drug delivery
technology to oral thin films and we see great promise in
delivering psychedelic-based medicines to treat various diseases
and disorders that would benefit from such a delivery method and in
partnering with life sciences companies seeking to add unique
offerings in their product pipeline. We look forward to
unveil the final prototype in the coming weeks.”
The Company has identified tannin-chitosan
composite of orally dissolvable thin films as the lead candidate
for the development of a unique delivery platform for therapeutic
doses (1-20mg) of psilocybin into the oral cavity. There are
a number of advantages and benefits of an orally dissolvable
psilocybin thin film such as the rapid dissolving and onset of
action to the bloodstream, the ease and convenience for patients to
administer without the need of water, chewing or swallowing, the
potential of improved therapeutic outcomes and efficacy for
underserved diseases and disorders and the flexibility to create
accurate dosing and tasteful options.
The orally dissolvable thin film prototypes will
undergo further scientific testing through a broad range of studies
including testing of different dosages from 1 mg to 20 mg,
physio-chemical characterization (e.g. tensile strength of films)
of composite materials, dissolution and disintegration
testing, and rate of psilocybin release from composites.
The drug delivery technology aims to deliver
both synthetic and natural extract of psilocybin in a potential
number of ways such as orally dissolvable thin films, topical gels,
creams or ointments, oral or transdermal patches, oral dosages and
foams. The delivery technology is a natural, non-toxic,
biodegradable and biocompatible composite that combines a tannin
material, which is derived from a plant group having antibacterial,
antifungal, antioxidant and wound healing properties, and a
chitosan material, which is derived from the crustacean group
having blood-clotting and antimicrobial properties. The delivery
technology has a rapid onset of action and controlled or sustained
release potential capabilities and may allow combining multiple
extracts from mushrooms in one formulation.
Revive would also like to announce that it has
granted 6,000,000 stock options to an officer and director. Each
option is exercisable at $0.33 per common share at any time until
August 5, 2025.
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:
Michael FrankChief Executive OfficerRevive
Therapeutics Ltd.Tel: 1 888 901 0036Email:
mfrank@revivethera.comWebsite:
www.revivethera.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” and similar
expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on Revive’s 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 the Offering, including the intended use of proceeds.
Forward-looking information is based on reasonable assumptions that
have been made by Revive 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 Revive 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. Reference
is made to the risk factors disclosed under the heading “Risk
Factors” in the Company’s annual MD&A for the fiscal year ended
June 30, 2019, which has been filed on SEDAR and is available under
the Company’s profile at www.sedar.com.
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