Revive Therapeutics Ltd. (RVV:TSX.V; RVVTF:OTCMKTS) announced in a news release two new developments regarding collaborations around the use of psilocybin.
"Our initiatives in product development and clinical studies gives us a leading position in the psychedelic space," Revive CEO Michael Frank said in the release.
One, Revive noted that it is preparing to scale up for manufacturing of its oral, psilocybin-delivering thin films, to be used in future clinical studies of psychedelics. Revive has in hand the final set of prototypes of the films, which it developed with the University of Wisconsin-Madison's Reed Research Group.
These dissolvable thin films, made out of a natural, biodegradable and biocompatible tannin-chitosan composite, deliver 1 to 20 milligrams of psilocybin. "The delivery technology has a rapid onset of action and controlled or sustained release potential capabilities and may allow combining multiple extracts from mushrooms in one formulation," the release noted.
Two, the Ontario-based biopharma partnered with the University of Wisconsin School of Medicine and Public Health and School of Pharmacy to conduct a Phase 1 clinical trial of psilocybin there in adults with methamphetamine use disorder. The schools hold a "Wisconsin special authorization and DEA license to perform clinical research with psilocybin." Revive will have exclusive access to the intellectual property derived from this study.
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