Revive Therapeutics (CSE: RVV) (OTC: RVVTF) is one step closer to conducting its phase 3 clinical trials for the use of Bucillamine in the treatment of COVID-19. The company announced this morning that it has signed a memorandum of understanding with Attwill Medical Solutions Sterilflow, LP to establish the firm as a resource for clinical packaging and distribution for Revive’s clinical trials. Notably, Attwill recently signed on as the large scale manufacturer and a resource for lyophilization development for that of Vaxart Inc’s (NASDAQ: VXRT) COVID-19 vaccine.
Attwill Medical Solutions, based in Wisconsin, is one of the largest facilities in the US that specializes in lyophilization services. Lyophilization, or freeze drying, is essentially the process of removing any liquid from a substance through sublimation. In pharmaceuticals in particular, it enables drugs to be easy to store and transport while demonstrating good shelf life. The FDA compliant facility is ISO and cGMP certified. For this reason, it was recently selected by Vaxart for lyophilization development, as well as for large scale manufacturing of its tablets for the firms oral COVID-19 vaccine.
The memorandum of understanding entered into between Revive and Attwill will see the manufacturer develop the clinical packaging for Revive’s phase 3 clinical trials, which will be produced in the USA. Services performed by Attwill for Revive will include analytical and stability studies, clinical supply chain management, storage, distribution and project management. Given the highly qualified nature of Attwill, the MOU brings further credibility to the phase 3 trials being conducted by the Canadian issuer.
Attwill Medical Solutions is a private firm, owned and operated by Bill Jackson, an independent member of Revive’s board of directors since 2014. The use of Attwill’s market-leading services provides further evidence of the strength of the management team behind Revive and pharmaceutical connections in which it currently has.
Furthermore, Revive also announced this morning that it has commenced the process of uplisting its US OTC listing to that of the OTCQB Market. The move is expected to provide existing shareholders with further liquidity by introducing the equity to a broader range of retail and institutional investors within the United States.
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Revive Therapeutics last traded at $0.28 on the CSE.
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