Revive Therapeutics (CSE: RVV) this morning announced that it has engaged Complete Phytochemical Solutions for the purpose of advancing the firms research and development efforts of psilocybin-based products for the pharmaceutical market.
Complete Phytochemical is an internationally recognized firm that focuses on unique and complex analyses and formulation development of phytochemicals. The firm was formed in 2010 as a spin-off from the University of Wisconsin-Madison, with the firm currently operating out of the on-campus Reed Research Lab. Complete is lead by Christian G. Krueger and Dr Jess D. Reed, with the company having recently collaborated with Revive on development initiatives related to delivery vehicles for cannabinoids.
Revive has an intellectual property portfolio of psilocybin-based formulations ready to advance to the next stages of clinical development and with our newly-established relationship with Complete Phytochemical Solutions they will bring a wealth of product formulation and testing experience with phytochemicals, including hallucinogenics. Complete Phytochemical Solutions will be instrumental in achieving milestones that will unlock the potential of our psilocybin-based platform.
Michael Frank, Revive’s Chief Executive Officer
Revive currently has patent-pending methodology that includes psilocybin-based extraction and crystallization methodologies. Additionally, the company has filed for key provisional patent applications in the United States for methods of production of psilocybin-based formulations which includes sublingual and transmucosal delivery systems such as gum drops, oral strips, and dosing pens, as well as sublingual sprays, hard shell capsules, and effervescent tablets.
Revive Therapeutics last traded at $0.13 on the CSE.
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