The former will supply Revive with CBD for the research program, specifically looking at non-alcoholic steatohepatitis (NASH) and autoimmune hepatitis (AIH).
Non-alcoholic steatohepatitis is the most extreme form of non-alcoholic fatty liver disease, while AIH is where the person's own immune system attacks the cells of the liver.
In addition, the two companies will identify opportunities for developing and commercializing medical cannabis products and therapies for potential collaborations on other treatments.
Revive recently secured the intellectual property (IP) for its own delivery systems, and has assembled a diversified pipeline of pharmaceutical, prescription and over-the-counter (OTC) products.
Together with WeedMD, it will evaluate the efficacy of CBD in the treatment of NASH and AIH, in addition to other potential indications in the future.
"WeedMD continues to push ahead with its research and development initiatives, both independently and with research institutions to accelerate cannabinoid applications and delivery system innovations, in addition to collecting valuable data about strains and their effects," said Dr Luc Duchesne, chief scientific officer at WeedMD.
"Both WeedMD and Revive are making advances as participants in the pharmaceutical cannabis market which begins with the validation of new products and innovations through clinical-evidence and the establishment of intellectual property.”
It's been a busy week for the pot-focused group.
On Monday, shares advanced as it received the green light to start growing in the first four grow rooms at its new greenhouse in Ontario.
The cultivation licence comes from Health Canada and is for 220,000 sq ft of retro-fitted tempered glass which is less than two years old.
It means the firm can now bring a total of 20 grow rooms on-line over the coming months.