TORONTO, Sept. 21, 2020 -- InvestorsHub
NewsWire -- 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 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.
