Revive Therapeutics in research collaboration to develop psilocybin to treat cancer and discover novel uses of undisclosed psychedelic compounds

Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF) (FRA:31R) has entered into an exclusive research collaboration agreement with PharmaTher Inc to accelerate the development of psilocybin to treat cancer and the discovery of novel uses of undisclosed psychedelic compounds.  PharmaTher is a wholly-owned subsidiary of Newscope Capital Corporation (CSE:PHRM), a specialty psychedelics pharmaceutical company.  "Revive continues to be focused on developing novel uses for psilocybin that leverages our proprietary oral thin film delivery technology as a differentiated therapeutic approach," said Revive CEO Michael Frank in a statement Wednesday. "We are excited to advance the development of PharmaTher’s recent discovery in the potential of psilocybin to treat certain cancers such as liver carcinoma, melanoma, breast neoplasms, kidney neoplasms and acute myeloid leukemia." READ: Revive Therapeutics commits to 10 sites for Phase 3 coronavirus trial of bucillamine Frank added: “We are also leveraging PharmaTher’s panaceAI discovery AI platform to discover new uses of undisclosed psychedelic compounds to be potentially used with our oral thin film delivery technology and expand our psychedelics drug pipeline." Fabio Chianelli, CEO of PharmaTher, noted that his company achieved an important milestone in expanding its patent portfolio with the potential of psilocybin to treat certain cancer indications.  “Our research collaboration with Revive validates our business model in discovering novel uses of psychedelics with panaceAI and partnering these discoveries with life sciences companies seeking to expand their product pipeline with psychedelics,” Chianelli said. “We are happy to accelerate Revive’s objective in building a unique psychedelic drug pipeline via the FDA development and approval process.” Revive said the collaboration will give it exclusivity to advance the research of psilocybin in the treatment of cancer and leverage PharmaTher’s panaceAI psychedelic discovery AI (artificial intelligence) platform to screen, identify and evaluate undisclosed psychedelic compounds directed at pre-specified targets for use with Revive’s drug delivery technology. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham