In a news release, Revive Therapeutics Ltd. (RVV:TSX.V; RVVTF:OTCMKTS) announced "an expansion to the sponsored research partnership agreement entered with the University of Wisconsin-Madison to evaluate novel formulations of psilocybin and a Phase 1 clinical study investigating the therapeutic application of psilocybin for an undisclosed addiction use disorder."
The company's CEO Michael Frank commented, "We are pleased to have expanded our research partnership with the University of Wisconsin-Madison in the development of novel psilocybin formulations that will serve as the platform to create unique psychedelic-based therapeutics for clinical research targeting specific medical needs, such as addiction use disorders...As part of our psychedelic-based pharmaceutical strategy, we are focused on balancing research and development of novel psilocybin-based formulations and clinical research of psilocybin to create a robust product pipeline backed by intellectual property and clinical data with the aim to pursue the FDA regulatory pathway for commercialization. Revive plans to expand its clinical development pipeline with psilocybin for various addiction and dependence disorders."
The firm pointed out that the specific research and development work is concentrated on tannin-chitosan composites in the form of thin films, hydrogels and 3D foams.
The company indicated that it also plans to finalize a sponsorship program centered around a Phase 1 clinical trial to study psilocybin for use in the treatment of an undisclosed addiction use disorder. The proposed study will be conducted at the University of Wisconsin-Madison, School of Medicine and Public Health, and School of Pharmacy, which has been granted both a State of Wisconsin special authorization and DEA license to perform clinical psilocybin research.
Revive Therapeutics Ltd. is a life sciences company based in Toronto, Canada, engaged in research and development of therapeutics for rare disorders and infectious diseases.
Read what other experts are saying about:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Revive Therapeutics. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Revive Therapeutics, a company mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.