$RVV $RVVTF - Trends in Psychedelic Drugs Research ATLANTA, Oct. 15, 2020 (GLOBE NEWSWIRE) -- 2020 has been quite a year, but hidden among the carnage is great news about advances in research on psychedelic medicine to treat mental health issues. In January Johns Hopkins announced it had launched the Center for Psychedelic and Consciousness Research three months earlier. With $17 million in private funding and a full panel of planned studies, Johns Hopkins' researchers planned to focus on how psychedelics impact brain function and mood in both healthy individuals and those affected by mental health issues. What John Hopkins did not realize is that it would be sparking the psychedelic revolution.
Psychedelics, like psilocybin, are garnering interest from mainstream America. Denver, Oakland, and Santa Cruz have recently legalized its use. Ann Arbor, Michigan lawmakers voted to decriminalize psilocybin mushrooms and a ballot in Oregon could legalize its use by November 2020. This paradigm-shift in the treatment of mental health disorders could be the single best thing to come out of 2020. As researchers and the medical community develop more valuable tools for understanding the brain’s connection to mind and behavior, millions of people all over the world will benefit. Numerous studies on psychedelics are already proving such treatments can treat a host of mental issues, like obsessive-compulsive disorder, PTSD, opioid addiction, alcoholism, depression, anxiety, and eating disorders. As clinical trials supporting psychedelic treatments begin to prove the theories of researchers, we would expect to see big pharmaceutical companies investing heavily into psychedelics for their own drug pipelines.
Revive Therapeutics Ltd. (OTC Pink: RVVTF) is an Ontario, Canada based life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its recent acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive's cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation.
In February, RVVTF announced plans to acquire Psilocin Pharma Corp. for $2.75 million. Psilocin has developed production solutions for the active compound Psilocybin. The precisely dosed formulations work with both natural and synthetically derived Psilocybin which will be targeted for clinical research and subject to eventually Food and Drug Administration approval in the treatment of conditions such as depression, anxiety, bi-polar disorder, bulimia and anorexia. The company also filed an IND for a COVID treatment. www.revivethera.com