Revive Therapeutics Signs MOU with Attwill Medical Solutions for Phase 3 Clinical Trial for Bucillamine in COVID-19
August 14 2020 - 8:44AM
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 that it has signed a Memorandum
of Understanding (“MOU”) with Attwill Medical Solutions Sterilflow,
LP (“AMS”) to establish AMS as a resource for clinical packaging
and distribution for the Company’s Phase 3 clinical trial to
evaluate the safety and efficacy of Bucillamine in patients with
mild-moderate COVID-19.
“We are pleased to engage in formal discussions
with Attwill Medical to assist us in the clinical packaging and
distribution for our Phase 3 clinical study in COVID-19, as they
have the resources and capabilities to execute on a number of
activities that are critical to large-scale clinical studies,” said
Michael Frank, CEO of Revive.
Based in Lodi, Wisconsin, AMS is one of the
largest contract Lyophilization services facilities in the USA and
recently announced a MOU with Vaxart, Inc. affirming the parties’
intent to establish AMS as a resource for lyophilization
development and large scale manufacturing including tableting and
enteric coating for Vaxart’s oral COVID-19 vaccine. AMS operates an
FDA compliant facility with ISO 13485 2016 certification and
operates under cGMP and specializes in the lyophilization and
related processing of pharmaceutical intermediates, medical
devices, nutraceuticals and nutritional ingredients and
supplements.
The MOU outlines a proposed scope of work with
the intention to form a collaboration between Revive and AMS in the
area of clinical packaging. The primary activities that AMS
may perform for the Phase 3 clinical study in COVID-19 are
analytical and stability studies, clinical supply chain management,
storage, distribution and project management.
As AMS is a related party to the Company due to
the fact that Bill Jackson, a director of Revive, is an insider of
AMS, the MOU is deemed to be a “related party transaction” as
defined under Multilateral Instrument 61-101—Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). The
transaction with AMS is exempt from the formal valuation and
minority shareholder approval requirements of MI 61-101 (pursuant
to subsections 5.5(a) and 5.7(a)) as the fair market value of the
consideration to be paid to AMS will not exceed 25% of the
Company’s market capitalization.
Revive would also like to announce that it has
commenced the process to have the Company’s common shares upgraded
and quoted on the OTCQB® Market exchange in the United States.
Commencement of trading through the facilities of the OTCQB® is
subject to the fulfilment of the various regulatory requirements
and completion of due diligence.
Moving to the OTCQB® in the United States will
provide existing shareholders with an additional trading platform
to the Canadian Securities Exchange in addition to introducing the
Company to a broader range of retail and institutional investors
that a U.S. listing provides.
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.
The Company is not making any express or implied
claims that its product has the ability to eliminate or cure
COVID-19 (SARS-2 Coronavirus) at this time.
For more information, please contact:
Michael Frank Chief Executive Officer Revive Therapeutics Ltd.
Tel: 1 888 901 0036 Email: mfrank@revivethera.com
Website: 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.
Revive Therapeutics (CSE:RVV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Revive Therapeutics (CSE:RVV)
Historical Stock Chart
From Sep 2023 to Sep 2024