Revive Therapeutics Ltd (CSE:RVV) (OTCMKTS:RVVTF) said it has stuck a clinical trial agreement (CTA) with the University of Wisconsin System (UWS) to advance its psilocybin therapy for the potential treatment of methamphetamine use disorder.
The disorder is caused by the recurrent use of the substance methamphetamine and causes various problems including physical withdrawal, increasing use, and failure to meet responsibilities at work or school.
READ: Revive Therapeutics wins Institutional Review Board approval for its Phase 3 trial protocol to evaluate Bucillamine in COVID-19 patients
Life sciences group Revive is developing its oral dosage forms of psilocybin - the chemical found in magic mushrooms - to treat a variety of diseases and disorders.
"We are delighted to be collaborating with clinical researchers at the University of Wisconsin‒Madison to advance development of psilocybin for the potential treatment of methamphetamine use disorder,” said Michael Frank, Revive’s CEO in a statement.
"We are building a pipeline of clinical-stage psychedelic-derived therapies for addiction disorders with a focus on psilocybin with unique dosage forms."
The clinical study, in collaboration with the university, is entitled: "Phase I Study of the Safety and Feasibility of Psilocybin in Adults with Methamphetamine Use Disorder."
Under the terms of the agreement, Revive has an exclusive option to obtain an exclusive, worldwide, royalty-bearing commercialization license to all rights, title and interest that UWS may have in any invention that results from the clinical study.
Contact the author at giles@proactiveinvestors.com