Revive Therapeutics Ltd. is pleased to announce it has entered into a memorandum of understanding dated June 7, 2021 with Supriya Lifescience Ltd. (“Supriya”)’
TORONTO, June 08, 2021 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd.. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF, Frankfurt: 31R), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce it has entered into a memorandum of understanding dated June 7, 2021 with Supriya Lifescience Ltd. (“Supriya”), a specialty pharmaceutical company based in India, to pursue manufacturing of the API, conducting clinical registration and commercialization for Bucillamine to treat COVID-19 through Emergency Use Authorization (“EUA”) in India. The relationship also sets the foundation for Revive to expand commercialization efforts globally by leveraging Supriya’s extensive manufacturing and commercial network and Revive’s ongoing US FDA Phase 3 clinical study results of Bucillamine to treat mild-to-moderate COVID-19.
“While our Phase 3 clinical study for COVID-19 is ongoing in the USA, we are laying the ground work by partnering with Supriya to execute on our global manufacturing and commercialization plans and leveraging their regulatory expertise and commercial reach with 78 countries they currently supply pharmaceutical products to,” said Michael Frank, CEO of Revive. “We are focused on completing our current Phase 3 study in the USA and also obtaining EUA. These results will support drug approval registrations globally, including India, Europe, and Canada.”
Dr. Satish Wagh, CMD, Supriya Lifescience Ltd. said, “Through this collaboration, we aim to join our forces with Revive to accelerate access to Bucillamine in India at a time when it is most needed. This is a step towards making more treatment options available to patients in India in dealing with the pandemic. With this partnership, Supriya aims to enter into a niche area of chemistry and products thereby bolstering its CMO and research capabilities.”
The Company is not making any express or implied claims that its product has the ability to eliminate or cure COVID-19 (SARS-2 Coronavirus) at this time.
About Supriya Lifescience Ltd.
Based in Mumbai, India, Supriya Lifescience Ltd. is EUGMP and USFDA approved manufacturer and supplier of active pharmaceuticals ingredients and pharmaceutical products. Supriya exports to 78 countries (in Fiscal 2021) and has niche product offerings of 39 APIs focused on diverse therapeutic segments such as antihistamine, analgesic, anesthetic, vitamin, anti-asthmatic and anti-allergic. Supriya’s manufacturing facility is approved by various international regulatory authorities such as USFDA, EUGMP, EDQM, SFDA NMPA, ANVISA, KFDA, PMDA, TGA and Taiwan FDA. For more information, visit www.supriyalifescience.com.
About Revive Therapeutics Ltd.
Revive is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA such as Orphan Drug, Fast Track, Breakthrough Therapy and Rare Pediatric Disease designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its recent acquisition of Psilocin Pharma Corp., Revive is advancing the development of Psilocybin-based therapeutics in various diseases and disorders. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation. For more information, visit www.ReviveThera.com.
For more information, please contact:
Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@revivethera.com
Website: www.revivethera.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company’s cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2020, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.
Supriya Lifescience Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an initial public offering of its equity shares (the “Equity Shares”) and has filed a draft red herring prospectus dated May 15, 2021 (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”) and with the Registrar of Companies, Maharashtra at Mumbai. The DRHP is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Managers at www.icicisecurities.com and www.axiscapital.co.in, and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively.
