Revive
Therapeutics Enters
into Feasibility
Agreement
with LTS Lohmann
to
Develop Oral
Psilocybin
Thin
Film Strip
TORONTO,
May
17, 2021 --
InvestorsHub NewsWire -- Revive Therapeutics Ltd. ("Revive" or
the "Company") (CSE: RVV, USA: RVVTF,
FRANKFURT:
31R),
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 a
feasibility agreement
with LTS
Lohmann Therapie-Systeme AG ("LTS"),
a leader in
pharmaceutical oral thin
films,
to
develop and
manufacture
a
proprietary oral psilocybin
thin film
strip for
the Company's clinical and commercial initiatives
to
evaluate in mental
illness,
neurological and
substance abuse disorders.
"We are
very excited to work with LTS,
as
one
of the
world's
largest innovators and
suppliers of oral thin
films, to develop our
proprietary oral psilocybin thin film strip product
for
pharmaceutical use," said Michael
Frank, CEO of Revive. "Revive positioned
itself as
an innovator of novel uses and
delivery
forms of
psilocybin, as a
potential
treatment
for
unmet
medical needs.
Revive,
with our
relationship with LTS, will
be
able to
expedite
its
clinical and commercial ambitions with psilocybin
as a
pharmaceutical, globally."
Over
the last twelve
months, the Company
has been focused on creating
relationships and building a
robust psilocybin-based
product
pipeline that includes novel
uses, formulations, oral thin film
delivery and
biosynthetic forms
of
psilocybin. The
Company
collaborated
with
University of
Wisconsin-Madison to develop an oral
thin film technology and is engaged with
North Carolina State University to
develop a novel biosynthetic version of psilocybin based on a
natural biosynthesis
enzymatic
platform developed by Dr.
Gavin
Williams.
Also,
Revive is working with the University of Wisconsin to evaluate
psilocybin as a potential treatment of methamphetamine use
disorder and it
recently
submitted an application with
the U.S. Food and Drug Administration ("FDA") to
receive Orphan Drug
Designation ("ODD") for
psilocybin to treat traumatic brain injury, based in part of the
research program acquired from PharmaTher Holdings Ltd. (CSE:
PHRM)
(OTCQB:
PHRRF).
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.
"At LTS, we are
unrelenting in our commitment to make life better for
patients," comments Bas van
Buijtenen,
CEO of LTS. "Under this
agreement, we will deploy
our full
expertise and experience to the development of new therapeutic
options in an area that fits perfectly with our strategic focus.
The cooperation with Revive is an opportunity to demonstrate
once
again how
LTS creates commercial value at every stage
of
development."
Under the
terms of the Agreement, LTS shall perform certain formulation
development of oral psilocybin thin films, to
support
preclinical
studies
for the product development,
as well
as GMP manufacturing of clinical trial supplies.
Revive
cautions
that psilocybin is still under early-stage research and development
and is not making any express or implied claims as to their success
in the treatment of mental illness,
neurological and substance abuse disorders or commercial
viability.
About
LTS Lohmann Therapie-System AG
LTS
Lohmann Therapie-Systeme AG is a leading pharmaceutical technology
company that develops and manufactures innovative drug delivery
systems such
as
Transdermal Patches ("TTS") and Oral Thin Films ("OTF")
for the
pharmaceutical industry. LTS´
commercial offering encompasses more than 20 marketed products and
a diverse pipeline of more than 30 development projects targeting
multiple disease indications.
LTS's innovation pipeline contains both partner-funded
as
well as proprietary, LTS-funded
projects. LTS maintains its leading position through the continuous
refinement of its core TTS and OTF technologies and by advancing
emerging drug delivery technologies,
including Micro Array Patches for the transdermal
delivery of
large molecule, biological
actives. Founded in 1984, LTS operates today from two sites in
Andernach, Germany and West Caldwell, NJ, USA and a representative
office in Shanghai, China.
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
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 has
reviewed or accepts
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
Company's cannabinoids, psychedelics
and infectious
diseases programs.
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.