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Revive collaborates with the University of Health Sciences

TORONTO, June 17, 2021 (GLOBE NEWSWIRE) – Revive Therapeutics Ltd. ("Revive" or the "Company") (CSE: RVV, USA: RVVTF, Frankfurt: 31R), a specialist life sciences company focused on the research and development of therapies for medical needs and rare disorders, is pleased to announce that it has signed an agreement with the University of Sciences Health Authority of Antigua ("UHSA") to assist in the utilization of Revive's new psychedelic-assisted therapies and pioneer psychedelic clinical research and development in Antigua and Barbuda.

“We are excited to partner with UHSA as the relationship complements and accelerates our research and business goals with psychedelics and advances our proprietary drug delivery technology to deliver psychedelics in an oral thin film patch and topical forms in human clinical studies to support the regulatory approvals globally, ”said Derrick Welsh, chief operating officer of Psilocin Pharma, a division of the company.

Dr. Adedayo Akande, President of UHSA, commented: “Through our partnership with Revive Therapeutics, we have the unique opportunity to become a regional leader in research on psychoactive therapies for mental health. Our medical students will now have access to scientific knowledge and uses of treatments long before joining the medical staff, which is a huge benefit. We too are excited to partner with Revive as we contribute to the future of medicine. ”

As part of the proposed collaboration, Revive and UHSA aim to achieve the following activities:

  • Development of a psychedelic treatment center in Antigua and Barbuda using Revive's new formulations and forms of administration of psychedelics , including its proprietary psilocybin oral thin film product for treating mental health and substance abuse disorders;
  • The research on the UHSA campus will be conducted exclusively using Revive's intellectual property, developed at the University of Wisconsin-Madison, aiming to be the basis for new psychedelic therapies for research and commercial use in Antigua and Barbuda;
  • Conduct clinical studies to support regulatory approvals of drugs in the Caribbean and accelerate development plans US FDA Clinician; and
  • Establishment of a Master's Degree in Psychedelic Medicine for PhD students in Medicine and for those seeking to broaden their knowledge in the field of psychedelic medicine.

Founded in 1982, the Antigua University of Health Sciences located in Dow's Hill, Piccadilly Antigua is a leading academic institution dedicated to training exemplary physicians, nurses, postgraduates and researchers according to the highest professional standards that will comprise the clinic , biomedicine and behavioral awareness to promote the health and well-being of patients and communities. For more information, visit www.UHSA.ag.

About Revive Therapeutics Ltd.

Revive is a life sciences company focused on research and development of therapies for infectious diseases and rare disorders, and is prioritizing efforts development program to take advantage of various regulatory incentives granted by the FDA, such as Orphan Drug, Fast Track, Innovative Therapy Designations, and rare pediatric diseases. The Company is currently 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 therapies in various diseases and disorders. Revive's portfolio of cannabinoid pharmaceuticals focuses on rare inflammatory diseases and the company received orphan drug designation from the FDA 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, contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1888 901 0036
Email: mfrank @ revivethera.com
Website: www.revivethera.com

Neither the Canadian Stock Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.

Precautionary Statement

This press release contains "forward-looking information" within the meaning of applicable Canadian securities law. These statements relate to future events or future performance. The use of any of the words "could", "pretend", "hope", "believe", "do", "project", "estimate" and similar expressions and statements related to matters that are not historical fact is intended of identify forward-looking information and are based on Revive's current beliefs or assumptions as to the outcome and timing of such future events. The forward-looking information in this press release includes information regarding the Company's cannabinoid, psychedelic and infectious disease programs. Forward-looking information is based on reasonable assumptions that Revive has made as of 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 anticipated 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 requires applicable securities laws. The above statements expressly qualify any forward-looking information contained in this document. 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 registered with SEDAR and is available under the profile of the Company at www.sedar.com .

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