Revive Therapeutics Ltd. (RVV:TSX.V; RVVTF:OTCMKTS) announced in a news release it signed an agreement with Havn Life Sciences to source from it psilocybin and other naturally derived psychedelics. Havn extracts these compounds from plants and fungi.
Revive intends to use the psychedelics "in future investigational new drug (IND) enabling studies and clinical trials under the Food and Drug Administration 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," Revive CEO Michael Frank said in the release.
"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," Frank added.
Currently, the biotech firm is in the process of developing a thin film for oral delivery of psilocybin in therapeutic doses of 1–20 milligrams.
Revive is conducting the "Phase 1 Study of the Safety and Feasibility of Psilocybin in Adults with Methamphetamine Use Disorder" in conjunction with the University of Wisconsin's medical school and pharmacy, as they have authorization from the state of Wisconsin and a license from the Drug Enforcement Agency to carry out clinical research that uses psilocybin.
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