Revive Therapeutics Signs Exclusive Worldwide License

New Discovery and Research from Universidad Central del Caribe and St. Jude Children’s Research Hospital
Medicinal mushroom compound with anticancer activities that have minimal effects on normal cells Showed superior potency against aggressive breast cancer with potential to treat aggressive malignancies such as triple negative and inflammatory breast cancers Ongoing IND-supporting studies for FDA clinical trials

TORONTO, Aug. 17, 2021 (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 therapies for medical needs and rare diseases, is pleased to announce to announce that Revive has entered into an exclusive licensing agreement (the “Agreement”) with Puerto Rico Science Technology and Research Trust (“PRSTRT”), which provides Universidad Central del Caribe (“UCC”) and St. Jude Children’s Research Hospital (“St. Jude”), for the intellectual property (International Patent Application No. PCT/US2020/017053/) entitled Biologically Active Ganoderma Lucidum Compounds and Synthesis of Anticancer Derivatives ; Ergosterol peroxide probes for cellular localization. Researchers at St. Jude and UCC have characterized Ganoderma lucidum compounds from medicinal mushrooms with anti-cancer activity, especially significant activity against breast cancer, giving them the potential to treat the most aggressive types of breast cancer, such as triple-negative breast cancer and inflammatory breast cancer.

Michael Frank, CEO of the company, commented: “We are very excited about the new addition to our clinical-stage product pipeline as part of our long-term strategy to explore the therapeutic potential of medicinal mushrooms such as psilocybin and Ganoderma lucidum for treating mental health. , substance abuse and aggressive cancers.Our intention is to build on the research conducted at St. Jude Children’s Research Hospital and UCC by moving into FDA trials enabling IND to enable clinical trials in humans .”

Medicinal mushroom Ganoderma lucidum has been used in traditional Chinese medicine for over two millennia. The Ganoderma lucidum extract (“GLE”) has been associated with improved length and quality of life and does not interfere with conventional therapy. Indeed, commercially available GLE is used in the prevention and treatment of hypertension, cancer and immunological disorders. In addition, research suggests that GLE selectively inhibits breast cancer viability, induces apoptosis, reduces invasion, regulates key signaling molecules, and reduces tumor size by approximately 50% in mouse xenografts.

Despite the established therapeutic uses of GLE, the organic compounds responsible for its biological activity had not been identified. The chemical characterization of the compounds responsible for the biological activity of GLE is imperative to design and test derivatives with improved efficacy and safety profiles.

The licensed invention clarified the chemical structure of the most common chemical constituents of GLE and determined their efficacy in several aggressive breast cancer models. Several natural compounds were identified and three showed significant anticancer activity (ergosterol, 5,6-dehydroergosterol and ergoesterol peroxide). In particular, one of these compounds, ergoesterol peroxide, exerts selective effects on cancer cell viability, similar to those produced when using whole mushroom GLE extract, suggesting a wide therapeutic window. Ergoesterol peroxide exhibits antiproliferative effects through cell cycle arrest in G1 phase, apoptosis induction via caspase 3/7 activation and PARP cleavage, reduces migration and invasion while expressing total AKT1, AKT2, BCL-XL, Cyclin D1 and c-Myc is inhibited, induces ROS formation and inhibits tumor growth in vivo. This technology further includes ergosterol peroxide chemical probes for in vitro cancer evaluation, living cell studies and proteomic profiling.

Peer-reviewed papers related to the licensed intellectual property include:

Ling, Taotao, Walter H. Lang, Michelle M. Martinez-Montemayor, and Fatima Rivas. 2019. “Development of Ergosterol Peroxide Probes for Cellular Localization Studies.” Organic and Biomolecular Chemistry 17(21): 5223-29. Martinez-Montemayor, Michelle M. et al. 2019. “Identification of Biologically Active Ganoderma Lucidum Compounds and Synthesis of Enhanced Derivatives Conferring Anticancer Activities in Vitro.” Frontiers in Pharmacology 10:115.

Under the terms of the agreement, Revive acquired exclusive worldwide development and commercial rights to intellectual property (International Patent Application No. PCT/US2020/017053/) titled Biologically Active Ganoderma Lucidum Compounds and Synthesis of Anticancer Derivatives; Ergosterol peroxide probes for cellular localization.

Revive, PRSRT and St. Jude have agreed on terms consistent with industry standards, including future payments based on clinical trials and revenue milestones.

About Revive Therapeutics Ltd.

Revive is a life sciences company focused on research and development of therapies for infectious diseases and rare diseases, and it prioritizes drug development efforts to take advantage of various regulatory incentives granted by the FDA, such as orphan drugs, Fast Track, Breakthrough Therapy and Rare Indications for Pediatric Diseases. The company is currently investigating the use of bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With the recent acquisition of Psilocin Pharma Corp. Revive promotes the development of psilocybin-based therapies for various diseases and conditions. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company received FDA orphan drug 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
Director
Revive Therapeutics Ltd.
Phone: 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 assumes any responsibility for the suitability or accuracy of this release.

Warning:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. 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 regarding matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current beliefs or assumptions regarding the outcome and timing of such future events. Forward-looking information in this press release includes information related to the Company’s cannabinoids, psychedelics and infectious disease programs. Forward-looking information is based on reasonable assumptions made by Revive as of the date of the information and is subject to known and unknown risks, uncertainties and other factors that could cause actual results or events to differ materially from those expected in the forward-looking information. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. The forward-looking information in this press release is made as of the date hereof, and Revive undertakes no obligation 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 all forward-looking information contained herein. Reference is made to the risk factors listed under the heading “Risk Factors” in the company’s annual MD&A for the fiscal year ended June 30, 2020, filed with SEDAR and available under the company’s profile at www.sedar .com.

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