Revive Therapeutics (CSE: RVV) this morning announced that it has successfully completed research on an oral thin film delivery system with psilocybin, as well as filed for a related provisional patent for the technology with the US Patent and Trademark office.
The thin film technology with developed under a research partnership with the Reed Research Group at the University of Wisconsin-Madison. The film reportedly provides a unique delivery of psilocybin, which is to be used in the treatment of neurological, mental illness, and substance abuse disorders. Based on chitosan-tannin composite solutions, the film reportedly dissolved in testing in under five minutes after exposure to water.
Following the successful development of the product, Revive is now in discussions with lead contract manufacturers to assist in the clinical scale-up and manufacturing of the oral thin film. Future studies are to take place under US FDA Phase 1 and Phase 2 clinical studies for evaluation in humans.
“We are pleased with the final conclusion of the Research work and its successful results as it validates our drug delivery technology in delivering psychedelic pharmaceuticals and positions our oral thin film psilocybin product to become a potential novel treatment solution for various mental illness, neurological and substance abuse disorders. We continue to focus on building our intellectual property portfolio, advancing our psychedelics-based product pipeline to clinical trials and partnering with leading institutions.”
Michael Frank, CEO of Revive Therapeutics
Revive Therapeutics last traded at $0.425 on the CSE.
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