Revive
Therapeutics Signs Supply Agreement With Havn Life Sciences for
Psychedelic Compounds
Expanding
research and development of naturally-derived psilocybin for future
FDA IND-enabling and clinical studies
TORONTO, October 20,
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
announce it has signed a supply agreement (the "Agreement")
with
Havn Life Sciences Inc.
(CSE:HAVN)
(FRA: 5NP) ("Havn Life") to source naturally-derived
psychedelic
compounds, such as psilocybin, for use in future investigational
new drug ("IND") enabling studies and clinical trials under the
Food and Drug Administration ("FDA") guidelines.
"We are excited about our strategic partnership with Havn Life as
one of our suppliers of psychoactive compounds that we intend to
develop and commercialize using our established tannin-chitosan
based proprietary oral-thin film delivery system, for the
pharmaceutical and wellness markets," said Michael Frank, Revive's
Chief Executive Officer. "We are developing unique products
with both synthetic and naturally-derived psilocybin and building
relationships with companies and institutions that support our
objectives in the psychedelic space including our established
relationship with the University of Wisconsin-Madison in the
research and clinical development of our novel Psilocybin oral-thin
film product and the Phase 1 clinical study using psilocybin in the
treatment of methamphetamine use disorder."
Havn Life
Sciences is focused on standardized, quality-controlled extraction
of psychoactive compounds from plants and fungi, and the
development of natural health care products from non-regulated
compounds.
Susan
Chapelle, Co-CEO, Havn Life added: "Our path at Havn Life has
always been very clear: to supply standardized, quality controlled
compounds to researchers so they can do the research that's
necessary to document health and wellness benefits of psychedelic
medicine and ultimately help the industry with the knowledge
required to legalize these compounds. We are thrilled to have
signed this supply agreement with Revive Therapeutics to help
further their work in this field. Both of our companies are leading
innovators in the space, and we look forward to helping Revive
achieve their goals with our compound supply."
Revive's
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. 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.
Revive's
Clinical Study of Psilocybin in the Treatment of Methamphetamine
Use Disorder
The
Company 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.
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