Revive Therapeutics

Toronto-based Revive Therapeutics is a cannabinoid pharmaceutical company developing therapeutics for rare and infectious diseases. With the acquisition of Psilocin Pharma in February 2020, the company entered the psychedelic market and intends to advance psilocybin-based therapeutics targeting various diseases. The acquisition gave Revive ownership of the intellectual property for psilocybin-based manufacturing methods. Revive Therapeutics’ non-psychedelic drug candidates include Bucillamine to treat Covid-19 and liver diseases. 

Key Customers and Partnerships

In November 2020, the company entered into a partnership with PharmaTher to gain access to the latter’s artificial intelligence (AI) drug discovery platform. Revive will leverage the platform to discover new uses of undisclosed psychedelic compounds, which could help the company expand its drug pipeline. Further in February 2023 , the company partnered with PharmaTher, to study the delivery of 3,4-methylenedioxy​methamphetamine (MDMA) using PharmaTher’s microneedle patch technology as an alternative to existing oral treatments. 

Funding and Financials

The company is traded on the Canadian Securities Exchange (CSE) under the ticker symbol “RVV” and commenced trading on the over-the-counter (OTCQB) markets in June 2021 under the ticker symbol “RVVTF”. In January 2024, the company raised CAD 3 million (USD 2.2 million) in a private placement consisting of 85.7 million units and priced at CAD 0.035 (USD 0.026) per unit. The new funds were allocated towards clinical work on long COVID and other possible indications and the advancement of government studies.