Revive Therapeutics Provides
Update
on Oral
Thin Film Product
with
Psilocybin
TORONTO,
November 11,
2020 -- InvestorsHub NewsWire – Revive Therapeutics Ltd.
("Revive" or the "Company") (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
is pleased to provide an
update on its oral thin-film delivery system with psilocybin
being developed
under a
research partnership agreement with
Reed Research Group out of the University of
Wisconsin-Madison.
Following several months of
prototyping on
a wide range of dosage forms, the Company has completed
an oral thin-film
strip product
with psilocybin with dosage forms ranging
between
1
mg and
20
mg
and demonstrating its versatility
through
physio-chemical characterization (e.g. tensile strength of films)
of
bio comparable
tannin-chitosan
composite
materials, dissolution
and disintegration testing, and rate of psilocybin release from
composites.
Currently technical and
scientific data is being processed
and finalized.
"We
are very pleased
to
have achieved
this development milestone of our
orally dissolvable thin film strip for psilocybin, which
can
be used in
FDA
human clinical studies
and as a unique product for medical use in states where psilocybin
therapy use is permitted, such as Oregon following the passage of
Measure 109,"
said
Michael Frank, CEO of Revive.
"There
is a significant
market opportunity for our unique oral thin film strip technology
for not only
delivering
psilocybin but also
delivering
numerous
psychedelic-based medicines to treat various diseases and disorders
that would benefit from such a delivery method.
Also, we are in a position to begin
partnering with life sciences companies seeking to add unique
offerings in their
psychedelic-based
product pipeline
and with companies operating in
the U.S.
where
psilocybin
therapy use
is legal."
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
finalized
the
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.
Revive's Drug Delivery Technology
The drug delivery technology aims to deliver both synthetic and
natural extract of psilocybin in a potential number of ways such as
orally dissolvable thin films, topical gels, creams or ointments,
oral or transdermal patches, oral dosages and foams.
The 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.
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, 2020,
which has been filed on SEDAR and is available under the Company's
profile at
www.sedar.com.
