Life Sciences company focusing on research and development of treatments for medical needs and rare disorders Revival Therapeutics Ltd. (CSE: RVV) announced have signed an agreement deal with LTS Lohmann Therapie-Systeme AG to jointly develop an oral psilocybin thin film strip.
The oral psilocybin thin film strip will be used during the clinical trials of Revive Therapeutics linked to neurological, substance abuse disorders and mental illnesses.
LTS Lohmann is a notable pharmaceutical technology company and a market leader in trans dermal therapeutic systems and oral drug films.
Chief Executive Officer of Revive Therapeutics Michael Frank expressed how pleased they are by the opportunity to work with LTS Lohmann further adding this agreement will open up for more partnerships between the two in the future.
“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 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,” said the CEO.