Revive Therapeutics To Conduct Phase 1 Clinical Trials For Psilocybin
Revive Therapeutics (CSE: RVV) is driving forward with its psilocybin studies. The company announced this morning that it has entered into a clinical trial agreement with the University of Wisconsin to conduct a clinical study focused on the use of psilocybin in adults that suffer from methamphetamine use disorder.
Under the terms of the agreement, Revive holds the exclusive option to obtain a worldwide, royalty-bearing and exclusive commercialization license to all rights, title and interest in an invention that arises from the study with the University.
The study, entitled “Phase I Study of the Safety and Feasibility of Psilocybin in Adults with Methamphetamine Use Disorder,” will be conducted at the University of Wisconsin Schools of Medicine and Public Health and Pharmacy. The facility currently has a special authorization and drug enforcement administration license issued by the state of Wisconsin to conduct clinical research on psilocybin.
The study is to be lead by Chrisopher R. Nicholas, Ph.D, whom is also an assistant professor at the University and a clinical psychologist at the Program for Research Outreach Therapeutics and Education in the Addictions. Notably, other members of this team have experience working with psilocybin, and are currently investigation the use of the drug as a treatment for opioid use disorder.
“We are delighted to be collaborating with clinical researchers at the University of Wisconsin‒Madison to advance development of psilocybin for the potential treatment of methamphetamine use disorder. We are building a pipeline of clinical-stage psychedelic-derived therapies for addiction disorders with a focus on psilocybin with unique dosage forms.”
Michael Frank, CEO of Revive
Methamphetamine Use Disorder is a problem that affects approximately 1.1 million individuals across the US over the age of twelve. The disorder essentially is when the recurrent use of methamphetamines has resulting in clinically significant impairment, including health problems, physical withdrawl, persistent use, and failures to meet responsibilities. The disorder currently has no pharmaceutical treatment, with the annual economic cost in the US estimated at $23 billion.
Revive Therapeutics last traded at $0.28 on the CSE.
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