Revive Therapeutics Announces Update on its Collaboration Agreement with Health Canada Licensed Dealer for Medical Cannabis…
TORONTO, ONTARIO–(Marketwired – Jan. 4, 2018) - Revive Therapeutics Ltd. (“Revive” or the “Company”) (TSX VENTURE:RVV)(OTCQB:RVVTF), a company focused on the research, development and commercialization of novel therapies and technologies for the medical cannabis and cannabinoid-based pharmaceutical markets, today announced an update on the Company’s collaboration agreement with Chemi Pharmaceutical Inc. (“Chemi Pharma”), a Licensed Dealer for cannabis pursuant to the Controlled Drugs and Substances Act under Health Canada and its assistance with the decentralization of services enabled by blockchain technology to be integrated and utilized for the benefit of medical cannabis patients.
“Our collaboration with Chemi Pharma is an important part of our strategy in commercializing novel cannabis-based therapies and partnering with licensed producers of medical cannabis in Canada and the U.S.,” said Craig Leon, Chief Executive Officer of Revive. “Revive is also evolving its concept of a patient-focused platform enabled by blockchain that integrates structured and unstructured data through the capturing of product development, clinical data, and patient information as a solution for the medical cannabis industry.”
The collaboration with Chemi Pharma not only unlocks the commercialization potential of Revive’s proprietary medical cannabis products, including its cannabinoid delivery technology, but also further strengthens the Company’s evolving patient-focused platform. Chemi Pharma’s expertise in the analytical testing of pharmaceutical products will fill the gap in the Company’s patient-focused platform by validating pharma-grade medical cannabis products while advancing commercialization plans with Canadian licensed producers of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”).
Revive is currently in discussions with Canadian licensed producers of medical cannabis pursuant to ACMPR with regards to the Company’s medical cannabis product pipeline and cannabinoid delivery technology. As relationships with licensed producers are solidified the Company’s proposed patient-focused platform enabled by blockchain technology may offer another valuable element to the relationship. The patient-focused platform will attempt to unify all data collected from the cannabis seed, to the production and laboratory testing of the cannabis product, as well as from the patient, thus offering valuable information to licensed producers of cannabis. Furthermore, it will aim to provide the potential for personalized care by enabling patients, healthcare professionals, researchers and licensed producers of medical cannabis to collaborate, to innovate and to develop medical cannabis products in treating specific medical disorders, and to deploy individualized cannabis-based therapies based on authentic evidence of use of proprietary medical cannabis products. This is an important aspect of cannabis treatment due to the various cannabis strains and ratios that can be produced to provide optimal care to patients.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV)(OTCQB:RVVTF) is focused on the research, development and commercialization of novel therapies and technologies for the medical cannabis and cannabinoid-based pharmaceutical markets. Additional information on Revive is available at www.ReviveThera.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
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This news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute “forward-looking information” that involves known and unknown risks and uncertainties, which are not comprised of historical facts, and most of which are beyond the control of Revive. Forward-looking statements include estimates and statements that describe Revive’s future plans, objectives or goals, including words to the effect that Revive or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”, and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: the granting of a patent for Bucillamine for the treatment of gout; the potential efficacy and commercial viability of Bucillamine for treatment of gout and Bucillamine for the treatment of Cystinuria; expansion of the Bucillamine clinical testing program; the Company’s drug research and development, and commercialization plans; the Company’s research, development and commercialization plans for plant-based therapies, including cannabinoid and its delivery technology; the timing of operations; the Company’s drug research and development, and commercialization plans for blockchain and artificial intelligence; the Company’s collaboration with Chemi Pharmaceutical Inc.; and estimates of market conditions.
These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Revive to differ materially from those anticipated or implied in such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. The Company believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management’s expectations. In formulating the forward-looking statements contained herein, management has assumed: that business and economic conditions affecting Revive will continue substantially in the ordinary course and will be favourable to Revive; that clinical testing results will justify commercialization of the Company’s drug candidates; that Revive will be able to obtain all requisite regulatory approvals to commercialize its drug candidates; that such approvals will be received on a timely basis; and, that Revive will be able to find suitable partners for development and commercialization of its drug repurposing candidates on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect and no assurance can be given that such events will occur in the disclosed time frames or at all.
Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; the Company’s ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Revive’s Management’s Discussion & Analysis for the period ended June 30, 2017 and Revive’s other public filings, all of which may be viewed on SEDAR (www.sedar.com). Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Revive disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Chief Executive Officer