Revive Therapeutics Ltd. (RVV:TSX.V; RVVTF:OTCMKTS) announced in a news release it entered an agreement with PharmaTher Inc. to accelerate building a pipeline of psychedelic drugs for cancer treatment and to discover novel uses of psychedelic compounds.
PharmaTher, a subsidiary of Newscope Capital, is a specialty psychedelics pharmaceutical company with a psilocybin cancer program and a psychedelics drug repurposing artificial intelligence (AI) platform called panaceAI.
Revive notes that the collaboration will afford it exclusivity to pursue two major development avenues. One is developing PharmaTher's recent discovery concerning psilocybin's potential to treat certain cancers, including liver, breast, kidney, melanoma and acute myeloid leukemia, and ultimately expand Revive's psychedelics drug pipeline in the cancer arena.
The other is to leverage PharmaTher's panaceAI to discover new targets of psychedelic compounds for possible use with Revive's oral thin film delivery technology.
"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 Michael Frank, CEO of Revive.
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