Revive Therapeutics (CSE: RVV) announced this morning that it has entered into a sponsored research partnership agreement with that of the University of Wisconsin-Madison. The partnership arrangement will see the University of Wisconsin-Madison work with the company to evaluate novel formulations and drug delivery tech focused on psilocybin-based pharmaceuticals.
The program will be conducted at the Reed Research Group, led by Dr Jess D Reed who is the Professor of Animal Sciences at the university. The research agreement with the University and Revive will see the evaluation of psilocybin-based formulations and the patented Tannin-Chitosan composite drug delivery tech for psilocybin. Revive has an exclusive licenses with the Wisconsin Alumni Research Foundation for this technology.
The tech behind the drug delivery method is focused on delivering both synthetic and natural extracts of psilocybin in a number of potential mediums. Potential methods include topical gels, creams or ointments, oral dosages, foams, and oral or transdermal patches. The method is a natural, non-toxic, biodegradable and biocompatible composite. The tech has rapid onset capabilities and may allow for the combining of multiple extracts from mushrooms in a single formulation.
In addition to the tech having a composite that is derived from a plant group having a number of antibacterial and antifungal properties, it offers licensed pharma firms new product opportunities for various medical disorders.
Revive Therapeutics last traded at $0.14 on the CSE.
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