Revive Therapeutics Announces Research Collaboration with PharmaTher for Development of Psilocybin in Cancer and Discovery of...
November 18 2020 - 7:00AM
Revive Therapeutics Ltd. (“Revive”) (CSE: RVV, USA: RVVTF), a
specialty life sciences company focused on the research and
development of therapeutics for medical needs and rare disorders,
is pleased to announce it has entered into an exclusive research
collaboration agreement with PharmaTher Inc., a wholly-owned
subsidiary of Newscope Capital Corporation (“PharmaTher”) (CSE:
PHRM) and a specialty psychedelics pharmaceutical company, to
accelerate the development of psilocybin in the treatment of cancer
and the discovery of novel uses of undisclosed psychedelic
compounds.
"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 such as Liver Carcinoma,
Melanoma, Breast Neoplasms, Kidney Neoplasms and Acute Myeloid
Leukemia. We are also leveraging PharmaTher’s panaceAI™ discovery
AI platform to discover new uses of undisclosed psychedelic
compounds to be potentially used with our oral thin film delivery
technology and expand our psychedelics drug pipeline."
"We are excited to partner with Revive
Therapeutics on our psilocybin cancer program and our psychedelics
discovery platform, panaceAI™, to unlock the potential of novel
uses of psychedelic compounds in diseases that have sub-optimal or
no treatment options,” said Fabio Chianelli, CEO of PharmaTher. “We
recently achieved an important milestone in expanding our patent
portfolio with the potential of psilocybin to treat certain cancer
indications. Our research collaboration with Revive validates our
business model in discovering novel uses of psychedelics with
panaceAI™ and partnering these discoveries with life sciences
companies seeking to expand their product pipeline with
psychedelics. We are happy to accelerate Revive’s objective in
building a unique psychedelic drug pipeline via the FDA development
and approval process.”
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 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.
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 cancer and disorders of the brain and nervous system. Our
goal is to advance the commercialization of panaceAI™, our drug
repurposing artificial intelligence platform, and our clinical
product pipeline with ketamine and psilocybin in the treatment of
Parkinson’s Disease, depression, pain, traumatic brain injury and
stroke. Learn more
at: PharmaTher.com and follow us
on Facebook, Twitter and LinkedIn.
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, 2020, which has been filed on SEDAR and is available under
the Company’s profile at www.sedar.com.
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