Revive Therapeutics Enters LOI To Acquire Psilocybin Program From PharmaTher

Revive Therapeutics (CSE: RVV) this morning announced that it has entered into a letter of intent to acquire PharmaTher Inc’s (CSE: PHRM) psilocybin program. The proposed acquisition is to consist of a number of intellectual property-related assets to PharmaTher’s psilocybin research.

The letter of intent follows the previous announcement between the two firms that they had partnered to advance the study of psilocybin in the treatment of cancer, as well as the discovery of novel uses for certain psychedelic compounds. A number of assets are to be acquired under the LOI including:

  • All IP from pre-clinical research activities in traumatic brain injury and stroke that is currently working towards an FDA orphan drug designation.
  • All IP related to neurological disorders, cancers, and novel combinations of psilocybin with FDA approved drugs.
  • All IP related to a study being currently conducted by the Nationa Health Research Institute in Taiwan
  • Provisional patent applications in the US, including “Psilocybin in the Treatment of Neurological Brain Injury,” “Use of Psilocybin in the Treatment of Cancer,” and “Psilocybin Pharmaceutical Combination Therapies.”

Commenting on the announcement, Revive Therapeutics CEO Michael Frank stated, “Our psychedelics pharmaceutical program has been predominantly focused on the development and evaluation of our novel orally dissolvable thin film strip for psilocybin, and with the acquisition of PharmaTher’s proprietary psilocybin platform it will complement our objectives in commercializing a unique prescription-based psilocybin product for neurological disorders and FDA orphan drug indications.

The sale of PharmaTher’s psilocybin program meanwhile is said to enable the company to focus its resources on its clinical stage product pipeline with ketamine. The company is currently working on an FDA-approved program studying ketamine as a treatment for neurological disorders such as Parkinson’s disease and movement disorders, depression, and pain.

Final terms of the transaction are to be agreed upon after due diligence is completed by Revive, with the transaction expected to close by January 31.

Revive Therapeutics last traded at $0.69 on the CSE.


FULL DISCLOSURE: Revive Therapeutics is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Revive Therapeutics on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Revive Therapeutics Announces Research Collaboration For Natural Psilocybin Biosynthesis

Revive Therapeutics (CSE: RVV) this morning announced that it has entered into a sponsored research...

Thursday, January 14, 2021, 08:52:49 AM

Pharmather Applies For Orphan Drug Status For Ketamine In Use Against Parkinson’s Disease

Pharmather Inc (CSE: PHRM) has filed for orphan drug designation with the US Food and...

Tuesday, October 20, 2020, 09:30:33 AM

Revive Therapeutics Granted FDA Approval For Phase 3 Clinical Trial For Bucillamine In COVID-19 Treatment

It’s a big day for Revive Therapeutics (CSE: RVV) (OTC: RVVTF). The company announced this...

Friday, July 31, 2020, 09:16:29 AM

Revive Therapeutics Advances Psilocybin-Based Product Research

Revive Therapeutics (CSE: RVV) this morning announced that it has partnered with Complete Phytochemical Solutions...

Friday, April 17, 2020, 08:38:51 AM

Revive Therapeutics Begins Laying Groundwork For Commercialization Of Bucillamine

Revive Therapeutics (CSE: RVV) this afternoon reported that it is in the process of pursuing...

Thursday, July 15, 2021, 02:27:50 PM