Revive Therapeutics part of first psychedelic exchange traded fund
Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF) (FRA:31R) revealed Friday that the specialty life sciences company is one of the 17 companies in the US and Canada that will be included in the first psychedelics exchange traded fund managed by Horizons ETF Management.
The Horizons Psychedelic Stock Index ETF index is expected to start trading on January 26, under the ticker PSYK on the NEO exchange.
“We are pleased to be included in the First Psychedelics ETF and being recognized as a leading company in the field of psychedelic pharmaceuticals,” said Revive CEO Michael Frank.
Investors responded well, sending shares nearly 10.2% higher to US$0.47 on the OTC Markets.
READ: Revive Therapeutic inks non-binding LOI to buy PharmaTher Inc psilocybin intellectual property
“We are advancing novel psilocybin-based therapeutics using a proprietary oral thin film delivery technology and a natural biosynthesis enzymatic platform to support clinical research in mental health and substance abuse disorders.”
Revive is advancing its psychedelic pharmaceuticals pipeline by collaborating on an oral thin film product with the University of Wisconsin-Madison and a novel biosynthetic version of psilocybin based on a natural biosynthesis enzymatic platform developed by Dr Gavin Williams, a professor and researcher at North Carolina State University.
It is also engaged in a clinical study with the University of Wisconsin evaluating psilocybin in the treatment of methamphetamine use disorder, and research with psilocybin being done by PharmaTher Inc (CSE:PHRM) (OTCQB:PHRRF).
With its recent acquisition of Psilocin Pharma Corp, Revive is advancing the development of psilocybin-based therapeutics in various diseases. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status for the use of Cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/939296/revive-therapeutics-part-of-first-psychedelic-exchange-traded-fund-939296.html
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