Revive Therapeutics Provides Corporate Update on its Psychedelics Therapeutics Programs
September 21 2020 - 8:56AM
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 provide a corporate update on its
psychedelics therapeutics programs specifically as it relates to
the Company’s oral thin-film delivery system and clinical studies
with psilocybin at the University of Wisconsin-Madison.
“We are expanding our product pipeline with a
focus on psychedelic therapeutics incorporating our novel oral
thin-film delivery technology with psilocybin, in which we have
prototypes developed and we will move towards clinical studies with
the University of Wisconsin-Madison along with other key industry
partners,” said Michael Frank, CEO of Revive. “In addition, we are
advancing our Phase I clinical study to evaluate the safety and
feasibility of psilocybin in adults with Methamphetamine Use
Disorder. Our initiatives in product development and clinical
studies gives us a leading position in the psychedelic space.”
Psilocybin Oral Thin-film Product
Under its sponsored research partnership with
the Reed Research Group out of the University of Wisconsin-Madison,
the Company is developing its tannin-chitosan composite of orally
dissolvable thin films which offers a unique delivery platform for
therapeutic doses (1-20mg) of psilocybin into the oral cavity. The
Company has received its final set of prototypes and is preparing
to scale for manufacturing for future clinical studies involving
psilocybin and other psychedelic-derived medicines. 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 including the flexibility to
create accurate dosing and tasteful options.
The Company’s 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.
Clinical Study of Psilocybin in the Treatment of
Methamphetamine Use Disorder
The Company recently announced that it has
entered into a Clinical Trial Agreement with the Board of Regents
of the University of Wisconsin System to conduct a clinical study
entitled “Phase I Study of the Safety and Feasibility of Psilocybin
in Adults with Methamphetamine Use Disorder.” The Phase I study
Principal Investigator is Dr. Christopher R. Nicholas, Ph.D.,
Assistant Professor of Program for Research Outreach Therapeutics
and Education in the Addictions in the Department of Family
Medicine and Community Health at University of Wisconsin School of
Medicine and Public Health. The clinical study will be conducted at
the University of Wisconsin-Madison, School of Medicine and Public
Health, and School of Pharmacy, which holds a Wisconsin special
authorization and DEA license to perform clinical research with
psilocybin. The Company will have exclusive access to key
intellectual property from this study.
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.comNeither the Canadian Securities
Exchange nor its Regulation Services Provider have reviewed or
accept responsibility for the adequacy or accuracy of this
release.Cautionary StatementThis 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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