Revive Therapeutics (CSE: RVV) this morning provided a corporate update as it pertains to its psychedelic assets. The update primarily focused on the current status of the firms various psychedelics-related development and clinical programs, which largely surround the use of psilocybin.
The company currently has a number of ongoing studies as they relate to the psychedelics space. Brief updates were issued on a total of four ongoing studys, with the updates as follows.
- Methamphetamine use disorder – An ongoing Phase I/II clinical study has seen start-up activities take place, with enrollment expected to continue through to the end of the year. The program is currently looking to evaluate the safety and feasibility of the use of psilocybin in the treatment of the disorder.
- Traumatic brain injury and stroke – Revive is currently conducting proceeding to an FDA study at the University of Wisconsin-Madison following successful preclinical studies in mice. Patient enrollment is slted to begin in the fourth quarter, with start-up activities currently underway.
- Oral thin film strip – Product development is currently underway for the film strips which are targeting use for mental illness, substance abuse, and neurological disorders. Clinical studies are expected to commence next year via research grade prototypes.
- Biosynthesis program – The company is currently on the path to complete validation methods for synthesized psilocybin that is to be used for clinical and commercial use. Several technical milestones have been achieved to date on the project.
- Research and commercialization – Revive is currently slated to conduct clinical research in Antigua and Barbuda in Q4, while targeting commercialization for next year in the region.
Commenting on the update, company CEO Michael Frank stated, “Revive is embarking on the next stage of growth of its psychedelics strategy by focusing on building key partnerships with US academic institutions and other leading organizations, as well as developing intellectual property and entering into FDA clinical studies with psilocybin.“
Revive Therapeutics last traded at $0.53 on the CSE.
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