On December 20, 2020, Revive Therapeutics (RVV.C) inked a non-binding letter of intent for the full rights to PharmaTher’s psilocybin intellectual property, according to a press release.
PharmaTher is a subsidiary of life sciences company, Newscope Capital Corporation (PHRM.C), focused specifically on research and development of the pharmaceutical use of psychedelics.
“Our psychedelics pharmaceutical program has been predominantly focused on the development and evaluation of our novel orally dissolvable thin film strip for psilocybin, and with the acquisition of PharmaTher’s proprietary psilocybin platform it will complement our objectives in commercializing a unique prescription-based psilocybin product for neurological disorders and FDA orphan drug indications,” said Michael Frank, CEO of Revive.
The assets will include all intellectual and work property from PharmaTher’s pre-clinical research in traumatic brain injury and stroke, with ultimate aim of the research being to obtain U.S. Food and Drug Administration (FDA) Orphan Drug Designation. Also, all IP covering neurological disorders, cancers, and combinations of psilocybin and FDA approved drugs. Last all IP and work property from the present ongoing study conducted by the National Health Research Institute in Taiwan, and any patent applications with the U.S. Patent and Trade Mark office.
“We have built a diverse intellectual property portfolio of novel uses and FDA-approved drug combinations of psilocybin for neurological disorders for a strategic partner such as Revive, which has committed to developing novel psilocybin formulations, to unlock value of the psilocybin program for the long-term. With the proposed sale of our psilocybin program we will be able to dedicate resources to our core clinical-stage product pipeline of FDA-approved ketamine to treat neurological disorders, such as Parkinson’s disease, depression and pain towards FDA Phase 2 clinical trials,” said Fabio Chianelli, CEO of PharmaTher.
This acquisition directly follows a research collaboration agreement with PharmaTher to expedite the development of psilocybin for cancer treatment and the discovery of uses for previously undisclosed psychedelic compounds.
—Joseph Morton
Full disclosure: Revive Therapeutics is an equity.guru marketing client.
