Revive Therapeutics Announces Successful Research Results for Oral Thin Film Psilocybin and Filing of U.S. Provisional Patent Application

TORONTO, April 22, 2021 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce the successful completion of the research results and filing of a U.S. provisional patent application with The United States Patent and Trademark Office (“USPTO”) on an oral thin-film (“OTF”) delivery system with psilocybin developed under a research partnership agreement (“Research study”) with Reed Research Group at the University of Wisconsin-Madison.   This novel OTF offers a unique delivery of psilocybin as a potential treatment option for mental illness, neurological and substance abuse disorders.

The objective of the Research study determined that psilocybin could be incorporated into chitosan-tannin composite hydrogel solutions, cast into molds, form stable flexible thin films after drying, and release psilocybin upon dissolution in water. University of Wisconsin-Madison’s Reed Research Group successfully demonstrated that psilocybin (dissolved in water or ethanol) can be incorporated into chitosan-tannin hydrogel solutions, cast into molds, and dried to create a flexible thin film. The OTF psilocybin product dissolved in water (<5 minutes) with dosage forms ranging between 1 mg and 20 mg.

Revive is in discussion with a leading OTF contract manufacturer to assist in the clinical scale-up and manufacturing of the OTF psilocybin product. Future studies with the OTF psilocybin product will include evaluation in humans under U.S. Food and Drug Administration (“FDA”) Phase I and II clinical studies as a potential treatment in various mental illness, neurological and substance abuse disorders.

As a result of the Research study, the Wisconsin Alumni Research Foundation (WARF), the technology transfer office for the University of Wisconsin-Madison, submitted a provisional patent application to the UPTSO, entitled “Composite Chitosan-Tannin-Active Agent Compositions and Methods of Making and Using Same”. At a high level, the provisional patent application describes tannin-chitosan composite OTF incorporating active pharmaceutical ingredients, such as psilocybin.