Revive Therapeutics inks feasibility deal with Lohmann Therapie-Systeme to produce an oral psilocybin thin film strip

Revive Therapeutics Ltd (CSE:RVV) (OTC:RVVTF) (FRA:31R) has entered into a feasibility agreement with LTS Lohmann Therapie-Systeme AG to develop and manufacture a proprietary oral psilocybin thin film strip, the company announced.  The oral psilocybin strip fits into the company’s clinical and commercial initiatives to evaluate the psychedelic drug as a treatment for mental illness, as well as neurological and substance abuse disorders. Under the terms of the agreement, LTS will formulate oral psilocybin thin films to support preclinical studies for product development and manufacture GMP (good manufacturing practices) clinical trial supplies. READ: Revive Therapeutics partners with the University of California to study Bucillamine for treating severe COVID-19 “We are very excited to work with LTS, as one of the world’s largest innovators and suppliers of oral thin films, to develop our proprietary oral psilocybin thin film strip product for pharmaceutical use,” Revive CEO Michael Frank said. “Revive positioned itself as an innovator of novel uses and delivery forms of psilocybin, as a potential treatment for unmet medical needs. Revive, with our relationship with LTS, will be able to expedite its clinical and commercial ambitions with psilocybin as a pharmaceutical, globally.” There are several advantages to an orally dissolvable psilocybin thin film, the company said, such as the rapid onset of action to the bloodstream, the ability to administer without water, the potential of improved therapeutic outcomes and efficacy for underserved diseases and the flexibility to create accurate dosing and flavored options. “At LTS, we are unrelenting in our commitment to make life better for patients,” LTS CEO Bas van Buijtenen said. “Under this agreement, we will deploy our full expertise and experience to the development of new therapeutic options in an area that fits perfectly with our strategic focus. The cooperation with Revive is an opportunity to demonstrate once again how LTS creates commercial value at every stage of development.” Over the past year, Revive has been focused on creating relationships and building a robust psilocybin-based product pipeline that includes novel uses, formulations, oral thin film delivery and biosynthetic forms of psilocybin. The company has collaborated with the University of Wisconsin-Madison to develop an oral thin-film technology and is engaged with North Carolina State University to develop a novel biosynthetic version of psilocybin. Revive is also working with the University of Wisconsin to evaluate psilocybin as a potential treatment of methamphetamine use disorder and recently submitted an application with the US Food and Drug Administration to earn Orphan Drug Designation for psilocybin as a treatment for traumatic brain injury, based in part on research acquired from PharmaTher Holdings Ltd (CSE:PHRM) (OTCQB:PHRRF), the company said. Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com Follow him on Twitter @andrew_kessel