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ORIGINAL: Revive Therapeutics Provides Update on its Cannabis-based Pharmaceutical Initiatives
2019-12-19 07:00 ET - News Release
TORONTO, Dec. 19, 2019 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” and the “Company”) (CSE: RVV), a cannabis life sciences company focused on the research, development, and commercialization of novel cannabinoid-based products, is pleased to provide an update on its cannabis-based pharmaceuticals initiatives in its objective in offering novel therapies for unmet medical needs in large and rare disease markets.
“Revive has a robust cannabis pharma focused patent portfolio, targeting multi-billion dollar disease markets, which includes exclusive rights to issued U.S. patents based on a unique drug delivery technology and the use of Cannabidiol for the potential treatment of a rare liver disease,” said Michael Frank, Chief Executive of Revive. “We are pursuing drug development strategies that we believe will result in lower development costs and market exclusivity for our cannabis-based pharmaceutical products while expediting the clinical development and regulatory pathway of our products and paving the way for partnering with global pharmaceutical and medical focused cannabis companies.”
Revive intends to build a unique cannabis-based pharmaceutical product portfolio leveraging its novel drug delivery technology that aims to deliver both synthetic cannabinoids and natural extracts of cannabis in a potential number of ways such as topical gels, creams or ointments, oral or transdermal patches, and oral dosages. The delivery technology is a natural, non-toxic, biodegradable and biocompatible composite that combines a tannin material, which is derived from a plant group having antibacterial, antifungal, antioxidant and wound healing properties, and a chitosan material, which is derived from the crustacean group having blood-clotting and antimicrobial properties. The delivery technology has rapid onset of action and controlled or sustained release potential capabilities and may allow to combine multiple cannabinoids or cannabis extracts in one formulation.
The Company seeks to develop novel drug products leveraging its drug delivery technology and targeting multi-billion dollar market opportunities in pain, inflammatory skin disorders (i.e. acne, psoriasis), wound healing applications (i.e. battle wounds, scarring), and liver diseases (i.e. non-alcoholic fatty liver disease). Specifically, there are over 100 described liver diseases affecting at least 30 million people alone in the U.S., and the global market for liver disease treatment is projected to reach approximately $19.5 billion by 2022 according to Allied Market Research titled, “World Liver Disease Treatment Market – Opportunities and Forecast, 2014 - 2022”.
As for its rare disease pharmaceutical product pipeline, Revive has been granted by the U.S. Food and Drug Administration (“FDA”) two orphan drug designations for cannabidiol (“CBD”) in the treatment of autoimmune hepatitis, a rare liver disease, and CBD in the prevention of ischemia and reperfusion injury (“IRI”) resulting from solid organ transplantation, such as liver, kidney, heart and lung. Revive aims to build a portfolio of FDA orphan drug designations of cannabinoids that are complementary to Revive’s cannabis-based pharmaceuticals initiatives that support the long-term potential of cannabinoid prescription medicines for rare diseases and disorders, which the Company believes has been validated by the FDA approval of the GW Pharmaceuticals plc EPIDIOLEX®.
The Company will announce a number of pharmaceutical-based initiatives from its drug delivery technology and orphan drug product pipeline as they progress in the near-term.
ABOUT REVIVE THERAPEUTICS LTD.
Revive Therapeutics Ltd. is a cannabis life sciences company focused on the research, development and commercialization of novel cannabinoid-based products. The Company’s novel cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory and liver diseases. For more information, visit www.ReviveThera.com.