Revive Therapeutics Ltd (OTCMKTS:RVVTF) has announced the signing of a research and collaboration agreement with Newscope Capital Corporation’s wholly-owned subsidiary PharmaTher Inc. and a psychedelic specialty pharmaceutical company. The collaboration aims at expediting psilocybin development in cancer treatment and also in the discovery of innovative users of undiscovered psychedelic compounds.
Revive leveraging PharmaTher’s panaceAI™ platform
Michael Frank, the company’s CEO stated that they continue to focus on the development of innovative psilocybin uses leveraging its proprietary oral thin delivery tech as a differentiated therapeutic approach. He said that they are delighted to advance PharmaTher’s latest discovery in psilocybin’s potential in treating some cancers such as Melanoma, Liver Carcinoma, Kidney Neoplasms, Breast Neoplasms, and Acute Myeloid Leukemia. Frank also added that they will be leveraging PharmaTher’s panaceAI™ discovery AI platform in exploring new uses of psychedelic compounds. The undisclosed compounds could be vital in Revive’s oral thin film delivery tech and help the company is expanding its psychedelics drug pipeline.
PharmaTher CEO Fabio Chianelli stated that they are delighted to collaborate with Revive Therapeutics in advancing their psilocybin cancer program and panaceAI™ platform. Fabio said that the partnership will help the company in unlocking potential innovative uses of undisclosed psychedelic compounds in disease with no or sub-optimal treatment alternatives. He added that the company recently hit a significant milestone in the expansion of its patent portfolio with psilocybin’s potential in treating some cancer indications.
Collaboration validates Revive’s psychedelic use discovery model
According to Fabio, the research collaboration validates Revive’s business model in the discovery of novel uses of psychedelic using the panaceAI™ platform. It also enhances partnerships with life science companies for the discoveries to expand their psychedelics product line. Fabio concluded that they are delighted to expedite the company’s objective of advancing a unique psychedelic product pipeline through the FDA development and approval process.
With the collaboration, Revive will receive exclusive rights to advance psilocybin research in cancer treatment by leveraging the PharmaTher panaceiAI™ platform. The psychedelic discovery AI platform will be vital in screening, identifying, and evaluating undisclosed psychedelic compounds for use with Revive’s delivery tech.