TORONTO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for infectious diseases, medical countermeasures and rare disorders, today announced the publication of a scientific article demonstrating the potential of psilocybin as a novel therapeutic approach in stroke. The publication, entitled, “Neuroprotective effects of psilocybin in a rat model of stroke,” is published in BMC Neuroscience and is available here.

The research and intellectual property were part of the acquisition of assets from PharmaTher Holdings Ltd (CSE: PHRM) (OTCQB: PHRRF) in February 2021. The research study supported the Company’s PCT application (PCT/CA2021/050360), titled, “Use of Psilocybin in the Treatment of Neurological Brain Injury and Migraines.” The objective of the research study was to determine the protective effect of psilocybin in cellular and animal models of stroke. In the study, psilocybin reduced brain infarction and improved locomotor behavior in stroke rats; the protective mechanisms involve regulating BDNF expression.

Michael Frank, CEO of Revive, commented: “We have a diverse psilocybin-based pharmaceutical program that has been quietly moving forward with the aim of treating neurological, mental health and substance abuse disorders. The publication of the research study demonstrating psilocybin’s therapeutic potential in the treatment of stroke, which is often associated with subsequent depression, validates our strategic initiative to focus on evaluating psilocybin in clinical studies and novel delivery methods, such as our in-development psilocybin oral thin-film and microneedle patch.”

About Revive Therapeutics Ltd.

Revive Therapeutics is a life sciences company focused on the research and development of therapeutics and diagnostics for infectious diseases, medical countermeasures, and rare disorders. Revive prioritizes its drug development efforts to take advantage of several regulatory incentives awarded by the FDA, such as Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations. Currently, the Company is exploring the use of Bucillamine for the potential treatment of nerve agent exposure and long COVID. Revive is also advancing the development of Psilocybin-based therapeutics through various programs. 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 “may”, “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 management's discussion and analysis for the year ended June 30, 2024 ("MD&A"), dated October 25, 2024, which is available on the Company's profile at www.sedarplus.ca.