Revive Therapeutics Advances MDMA Transdermal Patch Development with Purchase of MDMA Supply from PharmAla Biotech

Revive Therapeutics Ltd. (OTCQB: RVVTF / CSE: RVV / FRANKFURT: 31R), a specialty pharmaceutical company, is pleased to announce the initiation of the research and development of its novel transdermal microneedle patch to deliver 3,4-Methylenedioxy​methamphetamine (“MDMA”) (“MDMA patch”). Following the exclusive supply agreement with PharmaAla Biotech Holdings Inc. (“PharmAla”) (CSE: MDMA) to obtain PharmAla’s LaNeo, GMP source of MDMA, the Company has purchased MDMA supply to support upcoming IND-enabling studies with the MDMA patch.

Recently, Revive Therapeutics announced it entered into a research collaboration agreement with PharmaTher Holdings (CSE: PHRM) (OTCQB: PHRRF) to evaluate their microneedle patch technology with MDMA. PharmaTher has completed a non-clinical research study with Terasaki Institute for Biomedical Innovation (TIBI) evaluating the delivery of its MDMA patch. Research results from this study will be available in early Q2-2023 and will be used to support future research studies in the U.S. and potential commercial initiatives in Australia where MDMA can be available to specially-licensed psychiatrists to prescribe for certain conditions. In addition, Revive will work with PharmaTher who will finalize a product and clinical development plan to initiate regulatory discussions for future studies in various indications where MDMA may have promise and to finalize certain studies to satisfy the regulatory requirements towards the Company’s commercial objectives in Australia.

The Company believes that the MDMA Patch may enable flexible drug load capacity and combinations, controlled released delivery, and be able to present desired pharmacokinetic and safety profiles, which could potentially overcome obstacles associated with oral dosing.

Revive Therapeutics Ltd. is a specialty pharmaceutical company focused on novel uses and delivery systems for psychedelics, cannabinoids, and small molecule drugs for unmet medical needs, including infectious diseases, rare disorders, and mental health and substance abuse conditions. Currently, the Company is exploring using Bucillamine as a potential treatment for COVID-19 in a Phase 3 clinical study and evaluating rare inflammatory disorders such as ischemia and reperfusion injury from organ transplantation, for which the Company received FDA orphan drug status designation. In addition, Revive is developing a novel psilocybin oral thin film and a transdermal microneedle patch to deliver psilocybin and MDMA.