Revive Therapeutics expands partnership for psilocybin new formulation development, clinical research with University of Wisconsin-Madison

Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF), a specialty life sciences company, announced on Friday that it was expanding its research partnership with the University of Wisconsin-Madison to evaluate novel formulations of psilocybin and a Phase 1 clinical study investigating the therapeutic application of psilocybin for an undisclosed addiction use disorder. “We are pleased to have expanded our research partnership with the University of Wisconsin-Madison in the development of novel psilocybin formulations that will serve as the platform to create unique psychedelic-based therapeutics for clinical research targeting specific medical needs, such as addiction use disorders,” Revive Therapeutics CEO Michael Frank said in a statement. “As part of our psychedelic-based pharmaceutical strategy, we are focused on balancing research and development of novel psilocybin-based formulations and clinical research of psilocybin to create a robust product pipeline backed by intellectual property and clinical data with the aim to pursue the FDA regulatory pathway for commercialization." The Revive Therapeutics boss also said the life sciences company plans to expand its clinical development pipeline with “psilocybin for various addiction and dependence disorders.” The research and development work being carried out at the University of Wisconsin-Madison focuses on tannin-chitosan composites in the form of thin films, hydrogels and 3D foams, noted the company. The research will embrace the development of “composite formulations, physio-chemical characterization of composite materials and rate of psilocybin release” from composites. Final formulations will be investigated in pre-clinical and clinical studies in various diseases and disorders, it added. Toronto-based Revive Therapeutics has identified tannin-chitosan composite thin films as the “lead candidate” for the development of a unique delivery platform for oral therapeutic doses (1-20 mg) of psilocybin. Revive also plans to finalize a sponsorship program around a Phase 1 clinical study examining psilocybin for the treatment of an undisclosed addiction use disorder. The clinical study will be conducted at the University of Wisconsin-Madison, School of Medicine and Public Health, and School of Pharmacy, which holds a Wisconsin special authorization and US Drug Enforcement Administration (DEA) license to perform clinical research with psilocybin. Revive is focused on research and development of drugs for infectious diseases and rare disorders. With its recent acquisition of Psilocin Pharma, Revive is also advancing the development of psilocybin-based therapeutics. Contact the author Uttara Choudhury at uttara@proactiveinvestors.com Follow her on Twitter: @UttaraProactive