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Revive Provides Update on its Clinical Development Plan for Cannabidiol in the Treatment of Autoimmune Hepatitis

TORONTO, Feb. 18, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”), a company focused on the research, development and commercialization of novel cannabinoid-based and life sciences products, is pleased to provide an update on the Company’s clinical development plan for Cannabidiol (“CBD”) in the treatment of Autoimmune Hepatitis (AIH).

Revive is currently in the process of preparing its Investigational New Drug (“IND”) application for submission to the U.S. Food and Drug Administration (“FDA”) for CBD in the treatment of AIH.  The Company plans to submit the IND within ninety days with the objective to proceed with a proposed Phase 1/2a clinical study to determine the recommended dose of CBD for future clinical studies of AIH, to assess its safety, efficacy and clinical benefit, as well as to support a New Drug Application (“NDA”) for FDA approval.  The Company aims to initiate a clinical study by the end of Q2 or early Q3-2020.

“Revive is focused on advancing its cannabinoid-based product pipeline towards human clinical studies with our lead program being CBD in the treatment of AIH, a rare liver disease that represents a large market opportunity globally,” said Michael Frank, Chief Executive Officer of Revive.  “Our objective in proceeding with a first-in-kind human clinical trial under a U.S. IND will further support our cannabinoid pharmaceutical initiatives by expanding into other rare diseases that Revive is pursuing such as the use of CBD in the prevention of ischemia and reperfusion injury (“IRI”) resulting from solid organ transplantation, which includes liver, kidney, heart and lung.  The Company has received FDA orphan drug designation for CBD in both AIH and IRI.”

Revive’s program is to meet a clear unmet medical need in patients with AIH.  AIH is a rare inflammatory condition of the liver that can affect all ages and gender across the world.  If not treated properly, may cause liver fibrosis or cirrhosis, liver failure requiring a liver transplant, and even death.  The prevalence of AIH is estimated at 75,000 patients in the U.S.  The current standard of care for AIH is the use of steroids alone or steroids combined with azathioprine.  It has been noted in medical literature that the current standard of care when used in a certain period of time has caused severe treatment-related side effects in 13%, treatment failure in 9%, incomplete response in 13%, and relapse after drug withdrawal up to 86% of patients with AIH (Source: World J Gastroenterol. 2010 Feb 28; 16(8): 934–947).  Therefore, given the unwanted outcomes associated with a steroid-based therapy, an alternative steroid-free treatment option such as CBD, with its known safety profile, may provide a potential solution for an improved treatment strategy for those patients unresponsive to, intolerant of, or non-adherent with a steroid-based therapy for AIH.

Revive has an exclusive license from South Carolina Research Foundation for its intellectual property for the use of CBD, either in synthetic or natural form, in the treatment of autoimmune hepatitis (U.S. patent No. 8242178).  Also, the FDA has granted to Revive orphan drug designation for CBD in the treatment of AIH, which provides valuable incentives that could accelerate the approval process, including seven-year market exclusivity, tax credits on U.S. clinical trials, fast-tracking of regulatory proceedings, and exemption from certain fees, such as waiver of filing fees under the Prescription Drug User Fee Act (PDUFA), and orphan drug grants.

About Revive Therapeutics Ltd.

Revive is a company focused on the research, development and commercialization of novel cannabinoid-based and life sciences products. Revive’s cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory areas such as liver disease. The company has been granted FDA orphan drug status designation for the use of CBD to treat auto-immune hepatitis (liver disease) and FDA orphan drug status designation for the use of CBD to treat ischemia and reperfusion injury from organ transplantation.

For more information, visit www.ReviveThera.com.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 905.605.5535
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. 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 relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the IND submission to the FDA, including plans to submit the IND within sixty to ninety days,  a proposed Phase 1/2a clinical study, and the aim to initiate a clinical study by the end of Q2-2020.  Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated 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 any forward-looking information contained herein. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: the risk that the Company may not be able to submit the IND to the FDA; the Company many not obtain approval to proceed with a human clinical study; the inability of the Company to satisfy all conditions to proceed with a human clinical study and the risk of unforeseen delays in the submission of the IND. Reference is also made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

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Spherix Issues Letter to Shareholders

NEW YORK, Feb. 14, 2020 /PRNewswire/ — Spherix Incorporated (NASDAQ: SPEX), a technology development company committed to the fostering of innovative ideas, today issued a letter to shareholders:

Spherix Logo. (PRNewsFoto/Spherix Incorporated)

Dear Fellow Shareholder,

One of the most important responsibilities of a public company CEO is a commitment to frequent and clear communication with shareholders. Over the last few years, our shareholders have supported management’s efforts to transform our company from a deeply researched series of ideas on scientific approaches towards oncology to a tangible set of assets and opportunities.

With our newly acquired oncology assets, we expect to transform Spherix into an innovative pharmaceutical company dedicated to translating fundamental biological insights into new drugs and treatments that address unmet medical needs.  Moving forward, we are committed to providing our shareholders with substantive information on these pioneering treatments, starting with our pancreatic cancer drug, DHA-dFdC.

Developed at the University of Texas at Austin, DHA-dFdC is a new compound that we believe would  become the next generation of second-line chemotherapy treatment for advanced pancreatic cancer.  According to the Hirshberg Foundation for Pancreatic Cancer Research, pancreatic cancer is the 3rd leading cause of cancer-related deaths in the United States, surpassing breast cancer.  It is expected to become the 2nd leading cause of cancer-related deaths in the United States by the year 2020, surpassing colorectal cancer.  Pancreatic cancer also has the highest mortality rate of all major cancers, 91% of pancreatic cancer patients will die within five years of diagnosis, only 8% will survive more than five years and 74% of patients die within the first year of diagnosis.  Sadly, pancreatic cancer is one of the few cancers for which survival has not improved substantially in over 40 years.

Preclinical data shows that DHA-dFdC overcomes tumor cell resistance to current chemotherapeutic drugs and is well tolerated in preclinical toxicity tests.  The studies have also indicated that DHA-dFdC has documented efficacy against pancreatic tumors in a clinically relevant transgenic mouse model, inhibiting pancreatic cancer cell growth (up to 100,000-fold more potent that gemcitabine, a current standard therapy; i.e., the IC50 value of DHA-dFdC is more than 100,000-fold smaller than gemcitabine), and has demonstrated activities against other cancers, including leukemia, lung and melanoma.

The science behind Gem-DHA has thus far been published in three peer reviewed scientific journals:

  • Naguib et al. (2016) Synthesis, characterization, and in vitro and in vivo evaluations of 4-(N)-docosahexaenoyl 2 ́, 2 ́- difluorodeoxycytidine with potent and broad-spectrum antitumor activity, NeoPlasia 18: 33-48.
  • Valdes et al. (2017) Preclinical evaluation of the short-term toxicity of 4-(N)-docosahexaenoyl 2 ́, 2 ́- difluorodeoxycytidine (DHA-dFdC), Pharm. Res. 34: 1224-1232.
  • Valdes et al. (2019) A solid lipid nanoparticle formulation of 4-(N)-docosahexaenoyl 2 ́, 2 ́- difluorodeoxycytidine with increased solubility, stability, and antitumor activity, Int. J. Pharm. 570:118609

According to the published data, the drug:

  • Unexpectedly concentrates itself in the pancreas relative to other organs.
  • Significantly increases the lifespan of mice with pancreatic cancer in either mice predisposed to develop the cancer, or into which human pancreatic cancer has been injected.
  • Significantly decreases the growth of pancreatic tumors in mice, better than gemcitabine, the current standard of care.
  • Has a novel lipid nanoparticle oral formulation that significantly delays tumor growth and is well tolerated in mice.

The United States Patent Office recently issued the first patent covering DHA-dFdC in November 2019.  All of this technology has been licensed to Spherix for commercial development and we could not be more enthusiastic about the potential to both meaningfully help patients and reward shareholders.

The road to commercialization of any drug is never linear or effortless.  A collection of oncology assets as important as ours demands that the cadence of our process is conducted with the most qualified of teams and service providers. To that end we will seek to bring the most capable and knowledgeable people in the oncology field into the fold as we set upon our goal of taking these compounds to market. We look forward to keeping our shareholders apprised of our significant milestones as well as any potential setbacks along the way.

Sincerely,

Anthony Hayes
Chief Executive Officer

About Spherix

Spherix Incorporated, a Delaware corporation (the “Company”), was initially formed in 1967 and is currently a biotechnology company with a diverse portfolio of small-molecule anti-cancer therapeutics.  The Company’s platform consists of patented technology from leading universities and researchers and we are currently in the process of developing an innovative therapeutic drug platform through strong partnerships with world renowned educational institutions, including The University of Texas at Austin and Wake Forest University.  Our diverse pipeline of therapeutics includes therapies for pancreatic cancer, acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In addition, we are constantly seeking to grow our pipe to treat unmet medical needs in oncology

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contact:                 

Investor Relations:   

Hayden IR

Brett Maas, Managing Partner

Phone: (646) 536-7331

Email: brett@haydenir.com

www.haydenir.com

Spherix:      

Phone: 212-745-1373

Email: investorrelations@spherix.com

www.spherix.com

 

CisionView original content to download multimedia:http://www.prnewswire.com/news-releases/spherix-issues-letter-to-shareholders-301005037.html

SOURCE Spherix Incorporated

News Provided by PR Newswire via QuoteMedia

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AbbVie’s SKYRIZI™ Now Listed on the Nova Scotia Formulary for the Treatment of Moderate to Severe Plaque Psoriasis

  • SKYRIZI™ is an interleukin-23 (IL-23) inhibitor used for the treatment of moderate to severe 1
  • In clinical studies, SKYRIZI™ significantly improved levels of skin clearance after just 16 weeks and

maintained clearance at one year (52 weeks).1

  • SKYRIZI™ is the only IL-23 inhibitor to arrive at a positive conclusion with the pCPA and is currently listed on the provincial formularies of Ontario, Alberta, Saskatchewan, Quebec and Nova
  • Nova Scotia lists SKYRIZI™ on its provincial formulary effective February 06,

 

MONTRÉAL, QC, February 13, 2020 – AbbVie (NYSE: ABBV), a global, research and development-based biopharmaceutical company, announced today that Nova Scotia has listed SKYRIZI™ (risankizumab) on its provincial formulary for the treatment of moderate to severe plaque psoriasis. This announcement comes just two months after AbbVie successfully reached an agreement with the pan-Canadian Pharmaceutical Alliance (pCPA). Nova Scotia joins Ontario, Alberta, Saskatchewan and Quebec in bringing a much-needed treatment to patients living with psoriasis.

 

SKYRIZI™ (risankizumab) is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally.

 

“Risankizumab demonstrated high levels of skin clearance and persistence of effect. I am delighted that Dermatologists in Nova Scotia and our patients have a new option that can help patients achieve and maintain a high level of treatment response”, states Dr. Richard Langley MD, Professor and Director of Research in the Division of Dermatology at Dalhousie University and a principal investigator for the pivotal trials and senior author of the IMMhance study.

 

Psoriasis is a chronic condition affecting 125 million people worldwide, including 1 million Canadians, and many patients despite treatment still do not reach their goals or lose treatment response over time.2-4 The most common form is plaque psoriasis, which affects approximately 90% of patients. 5 Of these patients, 28% or approximately 325,000 Canadians are considered moderate to severe.6

 

“At CAPP we are always excited to hear of new treatment options being made available to psoriasis patients. We know that, while being a physical burden to patients, plaque psoriasis also has a huge emotional burden on patients. When patients can access more effective treatments and experience desired skin clearance, this gives them not just physical comfort, but also relief from the emotional burden of living with such a visible condition,” explains Rachael Manion, Executive Director, Canadian Association of Psoriasis Patients.

 

Information regarding the provincial criteria may be found by consulting the following link:

 

About SKYRIZI™

SKYRIZI™ is a novel, humanized immunoglobulin monoclonal antibody designed to selectively inhibit IL-23, a naturally occurring cytokine involved in inflammatory and immune responses.1 On April 17, 2019, SKYRIZI™ received a NOC from Health Canada for the treatment of moderate to severe plaque psoriasis in patients who are candidates for systemic therapy or phototherapy, based on results from clinical studies showing significant improvement in levels of skin clearance after just 16 weeks and at 52 weeks with every 3-month dosing in more than 2000 adult patients.1 Four pivotal Phase 3 studies, ultIMMa-1, ultIMMa-2, IMMvent and IMMhance evaluated more than 2,000 patients with moderate to severe plaque psoriasis.4 Canadians living with moderate to severe plaque psoriasis were well represented in all four of the pivotal clinical trials leading to Health Canada’s approval, showing the Canadian leadership in this clinical development program.

SKYRIZI™ is the only IL-23 inhibitor to arrive to a positive conclusion with the pCPA and is currently listed on the provincial formularies of Ontario, Alberta, Saskatchewan, Quebec, and Nova Scotia.

 

About AbbVie Care

The AbbVie Care program is designed to provide a wide range of customized services including reimbursement and financial support, pharmacy services, lab work reminders and coordination, personalized education and ongoing disease management support throughout the treatment journey. For more information, consult www.abbviecare.ca.

 

About AbbVie

AbbVie is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world’s most complex and critical conditions. The company’s mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.ca and www.abbvie.com. Follow @abbvieCanada and @abbvie on Twitter or view careers on

our Facebook or LinkedIn page.

-30-

 

Media:

Kim Hogan AbbVie Canada (514) 832-7288

kim.hogan@abbvie.com

 

 

References:

 

  1. SKYRIZI™ (risankizumab) [Canadian Product Monograph]. AbbVie Corporation, April 17,
  2. International Federation of Psoriasis Associations. Available at: https://ifpa-pso.com/wp- content/uploads/2017/01/Brochure-Psoriasis-is-a-serious-disease-deserving-global-attention.pdf. Accessed March 22,
  3. Mroweitz, , et al. Definition of treatment goals for moderate to severe psoriasis: a European consensus. Arch Dermatol Res. 2011 Jan; 303(1): 1–10.
  4. Levin, et Biologic fatigue in psoriasis. J Dermatolog Treat. 2014 Feb;25(1):78-82. doi: 10.3109/09546634.2013.826341.
  5. Canadian Dermatology Association – Psoriasis. Accessed on February 5, 2020. Available at: https://dermatology.ca/public- patients/skin/psoriasis/
  6. Petrella RJ, Gregory V, Luciani L, Barbeau M . Characteristics of chronic plaque psoriasis in Canada: a retrospective database (PSS7) Poster presented at ISPOR 19th Annual International Meeting, Montréal, QC, Canada, May 2014. Accessed on February 5, 2020. Available at:
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Revive Enters into Psychedelics Market with Letter of Intent to Acquire Psilocin Pharma Corp.

TORONTO, Feb. 12, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”) is pleased to announce that it has entered into a letter of intent, dated February 11, 2020 (the “LOI”) with Psilocin Pharma Corp. (“Psilocin”), an arm’s length party incorporated pursuant to the laws of the Province of Ontario. Pursuant to the terms of the LOI, Revive will acquire all of the issued and outstanding securities of Psilocin (the “Proposed Acquisition”) for an aggregate purchase price of $2.75 million (the “Purchase Price”). The Purchase Price will be satisfied through the issuance of an aggregate of 55 million common shares in the capital of Revive at a deemed price of $0.05 per share.

 

Upon the execution of the LOI, Revive agreed to deposit an aggregate of 10 million common shares (the “Deposit Shares”) in the capital of Revive, for an aggregate consideration of $500,000, into escrow as a deposit of the Purchase Price. In the event that the Proposed Acquisition does not close, the Deposit Shares will be returned to Revive for cancellation.

 

The closing of the Proposed Acquisition is subject to, among things, the successful completion of  Revive’s due diligence review of Psilocin and the execution of a definitive share exchange agreement between Revive and the shareholders of Psilocin.

 

“Psilocin Pharma has the platform, relationships, and know-how to develop psylocibin-based products that are key to this emerging psychedelics industry. We feel this acquisition will complement Revive and be a strong addition to our current clinical initiatives in liver disease and inflammation,” says Michael Frank, CEO of Revive Therapeutics.

 

About Psilocin Pharma Corp.

 

Psilocin has developed production solutions for the active compound Psilocybin. Our process encompassed with our intellectual property cover methods of production of Psilocybin based formulations. Psilocin has developed 6 formulations to date the Hydroxy Line. The line PSY-0.1 -Capsules- PSY-0.2 -Sublingual Spray- PSY-0.3 -Gel Cap- PSY-0.4/0.5 -Effervesce Tablets- PSY-0.6 -Breath Strip. The precisely dosed formulations work with both natural and synthetically derived Psilocybin which will be targeted for clinical research and subject to eventually FDA approval in the treatment of Depression, Anxiety, Bi-polar disorder, Bulimia & Anorexia Nervosa, etc.  Psilocin Pharma Corp’s range of products have been engineered to work synergistically with the body’s own natural pathways of absorption while offering a contemporary approach to consumption. Psilocin Pharma also has strong relationships with specific lab partners in certain areas like Brazil, where these formulations are legally approved and plan to sell products in these jurisdictions.

 

About Revive Therapeutics Ltd.

 

Revive is a company focused on the research, development and commercialization of novel cannabinoid-based and life sciences products. Revive’s cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory areas such as liver disease. The company has been granted FDA orphan drug status designation for the use of CBD to treat auto-immune hepatitis (liver disease) and FDA orphan drug status designation for the use of CBD to treat ischemia and reperfusion injury from organ transplantation.

 

For more information, visit www.ReviveThera.com.

 

For more information please contact:

 

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.

 

Tel: 905.605.5535
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.com

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

 

Cautionary Statement

 

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. 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 relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Proposed Acquisition, including the timing for closing and the receipt of required regulatory approvals. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated 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 any forward-looking information contained herein. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: the risk that the Company may not be able to close the Proposed Acquisition; the failure of the Company to effectively obtain the approval of the Canadian Securities Exchange for the Proposed Acquisition; the inability of the Company to satisfy all conditions to the completion of the Proposed Acquisition and the risk of unforeseen delays in the completion of the Proposed Acquisition. Reference is also made to the risk factors disclosed under the heading “Risk Factors” in the Company’s annual MD&A for the fiscal year ended June 30, 2019, which has been filed on SEDAR and is available under the Company’s profile at www.sedar.com.

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Revive Therapeutics Announces Brokered Private Placement of up to $2 million

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

TORONTO, Feb. 11, 2020 – Revive Therapeutics Ltd. (“Revive” or the “Company”), a cannabis life sciences company focused on novel cannabinoid-based treatments for rare inflammatory diseases, is pleased to announce that it has engaged Hampton Securities Limited, as sole lead agent (the “Agent”), in connection with a private placement offering, on a “commercially reasonable efforts” basis, of up to 40,000,000 units of Revive (the “Units”) at a price of $0.05 per Unit (the “Unit Price”) for gross proceeds of up to $2,000,000 (the “Offering”).

Each Unit shall consist of one common share (“Share”) in the capital of the Company and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to acquire one common share of the Company (each a “Warrant Share”) at a price of $0.07 per Warrant Share for a period of 36 months following the Closing Date.

The Company intends to use the net proceeds of the Offering for the repayment of debt and for general corporate purposes.

In connection with the Offering, the Agent will receive a cash commission equal to 9.0% of the gross proceeds raised under the Offering and will be issued on the Closing Date compensation ‎warrants (the “Compensation Warrants”) entitling the Agent to subscribe for that number of units (each a‎‎ “Compensation Unit”) as is equal to 9.0% of the total number of Units sold pursuant to the Offering. Each ‎Compensation Warrant shall entitle the holder thereof to purchase one Compensation Unit at a price of ‎‎$0.05 per Compensation Unit for a period of 24 months ‎from the Closing Date. Each Compensation Unit shall be comprised of one common share in the capital of ‎the Corporation and one common share purchase warrant (each a ‎‎“Compensation Unit Warrant”). Each Compensation Unit Warrant shall entitle the holder thereof to ‎purchase one common share in the capital of the Corporation (each a “Compensation Warrant Share”) ‎at a price of $0.07 per Compensation Warrant Share for the period of 36 months from the Closing Date.‎‎ The Company has also agreed to pay the Agent a corporate finance fee equal to ‎‎$20,000, payable in cash on the Closing Date.

The closing date of the Offering is expected to occur on or about February 28, 2020 (the “Closing Date”), and is subject to a number of conditions, including, without limitation, receipt of all regulatory approvals. All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day.

This press release shall not constitute an offer for the sale of securities, nor a solicitation for offers to buy securities in any jurisdiction. The securities referred to in this press release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

About Revive Therapeutics Ltd.

Revive is a cannabis life sciences company focused on the research, development and commercialization of novel cannabinoid-based products. Revive’s novel cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory and liver diseases. For more information, visit www.ReviveThera.com.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.

Tel: 905.605.5535
Email: mfrank@fbn.436.myftpupload.com
Website: www.revivethera.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. 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 relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Forward looking information in this press release includes information with respect to the proposed Offering, including the amount of proceeds expected to be raised, the timing for closing, the receipt of required regulatory approvals and the intended use of proceeds. Although Revive believes the assumptions underlying these statements are reasonable, they may prove to be incorrect. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated 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 any forward-looking information contained herein. Factors that may cause actual results to differ materially from those anticipated by these forward looking statements include: uncertainties associated with obtaining regulatory approvals; the need to establish additional corporate collaborations, distribution or licensing arrangements; the Company’s ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and cannabis-centred companies; changes in equity markets, inflation, and changes in exchange rates; and other factors, including the risk factors discussed or referred to in the Company’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. Except as required by law, Revive disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.

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Revive Therapeutics to Pursue the Psychedelic Market With Agreement and Investment in Red Light Holland Financing

TORONTO, Feb. 10, 2020 – Revive Therapeutics Ltd. (“Revive”), a cannabis life sciences company focused on novel cannabinoid-based treatments for rare inflammatory diseases, is pleased to announce that it has entered into a supply and collaboration agreement (the “Agreement”) with Red Light Holland Financing Inc. (“Red Light”), an arm’s length party.

Pursuant to the Agreement Red Light will sell to Revive a consistent strain of truffles for the sole purpose of Revive undertaking research and development on the suitability and implementation of its novel cannabinoid delivery technology with respect to the truffles and its extracts. Red Light has also agreed to, upon request, provide Revive with any information, studies, papers and other information it may have pertaining to the truffles which may be deemed to be beneficial to Revive for undertaking the research and development.

“Revive is excited to be working with Red Light to explore the use of its delivery technology with unique products such as truffles,” stated Michael Frank, the President of Revive. “We are confident that the results of Revive’s research will highlight the versatility of its cannabinoid delivery platform.”

“As Red Light Holland heads down the road of securing its facility in the Netherlands and commencing our cultivation of Premium Red Light Truffles, we are elated to be partnering and eventually aiming to supply companies with our truffles, such as Revive, who will perform true clinical testing in hopes of publishing ground-breaking and progressive medical results,” said Todd Shapiro, CEO of Red Light Holland.

In addition, as a condition of the Agreement, Revive has agreed to subscribe for 2,500,000 subscription receipts (the “Subscription Receipts”) of Red Light at a price of $0.06 per Subscription Receipt for an aggregate consideration of $150,000. Each Subscription Receipt shall entitle Revive, upon conversion and with any additional consideration, to acquire one common share in the capital of Red Light. In consideration for the Subscription Receipts, Revive will issue to Red Light an aggregate of 3,000,000 common shares in the capital of Revive at a price of $0.05 per share for aggregate consideration of $150,000.

About Red Light Holland Financing Inc.

Red Light’s core business is expected to revolve around the production, growth and sale of truffles’ products in compliance with all applicable laws and is a company registering, strategically, to be based in the Netherlands, an area that currently sells truffles. Red Light has collected a core group of highly skilled individuals who bring a wealth of knowledge and experience relating to growing, mass-producing, compliance, distributing, marketing and managing – which the company believes is necessary to assist in establishing itself as a leader in this emerging field. Red Light intends to fill this gap by providing a product that is grown under the strictest health and safety guidelines, and intends to market and sell its products pursuant to an EU-GMP certification, which it does not currently possess. Red Light plans to generate revenues by providing recreational grade truffles and potentially EU-GMP medical grade truffles to the current adult use market in the Netherlands.

About Revive Therapeutics Ltd.

Revive is a cannabis life sciences company focused on the research, development and commercialization of novel cannabinoid-based products. Revive’s novel cannabinoid delivery technology is being advanced to fill the medical needs for diseases and disorders such as pain, inflammation, and wound care. Revive’s cannabinoid pharmaceutical portfolio focuses on rare inflammatory and liver diseases. For more information, visit www.ReviveThera.com.

For more information please contact:

Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.

Tel:
Email:
Website:		 905.605.5535
mfrank@fbn.436.myftpupload.com
www.revivethera.com

Neither the Canadian Securities Exchange nor their regulations services provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

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Johns Hopkins study found that psilocybin is more effective at treating nicotine addiction than the leading drug, with 80% quitting after single dose

More Than A Trip: Psychedelic Drugs Being Used To Help People Quit Smoking In Just One Dose

A study at Johns Hopkins Behavioral Biology Research Center found that 80% of participants were able to quit smoking for at least six months after taking one dose of psilocybin, including one participant who was a heavy smoker for over 25 years. This suggests that psilocybin therapy is over twice as effective as the leading smoking cessation drug, varenicline, which has a 35% success rate after six months. Dr. Albert Garcia-Romeu explains that psilocybin is effective for treating addiction because it changes the way the brain makes connections, which can “interrupt old patterns, well-worn neuro pathways, or habits.”

PDF of article

PDF of study

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Hollister Biosciences Inc. To Manufacture and Distribute Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1

 

 

Vancouver, BC, February 7th, 2020 – Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the “Company”, “Hollister Cannabis Co” or “Hollister”) is proud to announce its licensing agreement with Tommy Chong to manufacture and distribute Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1.

 

The tincture, branded Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1, features a 1:1 ratio of THC to CBD, recognized for its medicinal properties. True to the manufacturing mission of Hollister Cannabis Co., the 1:1 tincture is crafted in small, artisanal batches for optimal quality and made from premium California-grown cannabis.

 

The tincture, Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1, will be distributed exclusively by Hollister Cannabis Co.’s distribution partner, Indus Holdings, Inc. and is anticipated to be in-dispensaries throughout California by March 01, 2020. Hollister is anticipating producing up to 25,000 units of Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1 during the 1st 12 months of executing the agreement with an estimated retail price of $70 per unit all sold through Hollister’s distribution partner.

 

In discussing the partnership with Hollister Cannabis Co., Tommy Chong shared, “I only partner with the best-in-class companies and I am really pleased to have the Hollister Cannabis Co bring their amazing Tommy Chong’s Cannabis™ Full Spectrum Elixir to the market for me”.

 

Hollister Cannabis Co., CEO, Carl Saling shared, “We are honored and excited to be partners with such a legendary and Iconic star as Tommy Chong. Tommy has experienced the medical benefits of cannabis and we are looking forward to working together to launch Tommy Chong’s Cannabis Full Spectrum Elixir into the California Legal Cannabis marketplace.”.

 

 

About Tommy Chong’s Cannabis:
As one-half of the legendary comedy duo Cheech & Chong, Tommy Chong helped pioneer a completely unique brand of comedy directed at the counter-culture movement of the early ‘70s. At the heart of this brand of entertainment was cannabis. On-screen and off Tommy became a vocal advocate for his favorite herb. In a time where cannabis had to be talked about in whispers, Tommy was a loud voice for the advocacy movement, working tirelessly to destigmatize the use of this healing plant. With the legalization of recreational cannabis, Tommy’s voice continues to ring out loudly, touting its benefits and place in society. Now, Tommy is thrilled to share that passion and knowledge of cannabis with the rest of the world. Using his lifelong connections in the industry, he has made it his personal mission to share the very best product available with his fans and fellow herb connoisseurs. If anyone knows weed, its Tommy. And now fans of comedy and cannabis alike can experience the strains and products that Tommy himself has hand selected.

 

 

About Hollister Biosciences Inc.:
Hollister Biosciences Inc. is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker.”
Website:  www.hollistercannabisco.com
Company Contact:
klee@k2capital.ca
Tel: 604-961-0296

 

 

 

 

 

 

 

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

 

As Released on: Newswire

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Hollister Biosciences Inc. and Veteran Based Tactical Relief Enter into Letter of Intent for Proposed Joint Venture Agreement

Vancouver, BC, February 7, 2020 – Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB) (the “Company” or “Hollister”) is pleased to announce that it has entered into a letter of intent (the “LOI”) to complete a Joint Venture Agreement (the “Joint Venture” or the “Agreement”) with Tactical Relief, a Veteran-founded hemp-based CBD oil brand. Upon completion of the Agreement, Hollister and Tactical Relief will collaborate on the development and marketing of cannabis tinctures throughout the California market.

Branded under Tactical Relief, the first cannabis tincture to be manufactured will feature a 20:1 ratio of THC to CBD, recognized for its medicinal properties in treating PTSD. True to the manufacturing mission of Hollister, the 20:1 tincture is crafted in small, artisanal batches for optimal quality and made from premium California-grown cannabis.

Under the terms of the Agreement, Tactical Relief will contribute artwork, logos and package design for a series of cannabis tinctures. On an ongoing basis, Tactical Relief will be financially responsible for all design and marketing. Hollister will be responsible for all aspects of production and procurement of underlying materials. All production of cannabis products will take place under Hollister’s supervision and licenses, and Hollister will be responsible for all costs associated with production and shipping. Tactical Relief and Hollister will further explore the development and marketing of additional cannabis-based tinctures, as well as expanding into out-of-state markets over coming years.

Tactical Relief’s new tincture(s) will be distributed exclusively by Hollister’s distribution partner, Indus Holdings Inc. (CSE: INDS)  and is anticipated to be in dispensaries throughout California by March 01, 2020. An estimated 5% net profits of all sales will be donated to charity.  Revenue generated on the tincture product line will be shared 60:40 between Hollister and Tactical Relief.

“Tactical Relief is a patriotic brand with a powerful message,” said Adam Smith, a Green Beret veteran, and Co-Founder of the Tactical Relief brand and US representative at Allied. “We launched this product to change the ways in which veterans and first-responders suffering from PTSD can choose to treat themselves, and with the Hollister Biosciences strategic alliance, we will be able to provide even more alternative treatments to those suffering. Part of the Tactical Relief mission is to use as many holistic treatment methods that have been shown to assist with post-traumatic stress disorder (PTSD) and traumatic brain injury (TBI). This partnership with Hollister Biosciences will help move this mission forward.”

“It’s always been our vision to share the wellness benefits of the cannabis plant with as many people as we possibly can,” said Carl Saling, Founder, CEO and Director of Hollister Biosciences Inc. “We take great pride in providing only the highest quality products and innovation, and we are excited to be teaming up with TACTICAL RELIEF™ to reach new audiences and help out those who have sacrificed so much for us all.”

About Tactical Relief:
Started by a Green Beret and trainer of Law Enforcement, Tactical Relief creates, promotes and sells the highest quality and most patriotic CBD oils in the country. Tactical Relief’s CBD oils are full spectrum, and currently made from the highest quality hemp grown in Kentucky. Owner Adam Smith is a Green Beret with nearly 17 years in service and experienced firsthand how CBD can help retired and active-duty (military and law enforcement) ease their physical and mental issues – especially those who suffer from PTSD and TBI. Tactical Relief is on a mission to end the stigma around hemp and cannabis products, and to provide relief to as many service members as possible.
Website: https://tacticalrelief.com/

About Hollister Biosciences Inc.:
Hollister Biosciences Inc. is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis and hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co. include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker.”
Website:  www.hollistercannabisco.com
Company Contact:
klee@k2capital.ca
Tel: 604-961-0296

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “may”, “will”, “would”, “project”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com

 

As Released on: Newswire

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Hollister Biosciences Inc. Division Rebel Hemp Company to Launch Hemp Brewed Beverage “Rebel Tea”

Hollister Biosciences Inc. (CSE: HOLL, FRANKFURT: HOB (the “Company“, “Hollister Cannabis Co.” or “Hollister“) – through its hemp division, Rebel Hemp Company is proud to announce the launch of its premium organic hemp-brewed beverage, Rebel Tea, at the Dream House MJBiz VIP Event in Las Vegas, Nevada.

Brewed with high-quality, American-grown hemp and containing fifteen milligrams of whole-plant full-spectrum phytocannabinoids, Rebel Tea offers consumers a refreshing THC-free beverage. Rebel Tea’s innovative formula features exclusively organic ingredients paired with light flavoring from natural lemon and cane sugar.

Rebel Tea will be launched at the most-anticipated after-party of the MJBiz Conference, the Dream House MJBiz VIP Event on December 12, 2019, at The Industrial Event Space at 2330 S. Industrial Road in Las Vegas, Nevada. Hollister, a sponsor of the invite-only event, will be showcasing Rebel Tea, along with additional hemp and THC products, while offering VIP’s an exclusive on-site adult consumption area in “The Den”.

The CEO of Hollister Biosciences Inc., Carl Saling shared, “We are very proud to release our new hemp beverage Rebel Tea. We have worked long and hard to create this amazing tea that is actually brewed from hemp.”.

About Hollister Biosciences Inc.: Hollister Biosciences Inc. is a California based vertically integrated cannabis company with a vision to be the sought-after premium brand portfolio of innovative, high-quality California-grown cannabis & hemp products. Hollister uses a vertically integrated, high margin model, controlling the whole process from manufacture to sales to distribution or seed to shelf. Products from Hollister Cannabis Co include HashBone, the brand’s premier artisanal hash-infused pre-roll, along with solvent-free bubble hash, pre-packaged flower, pre-rolls, tinctures, vape products, and full-spectrum high CBD pet tinctures. Hollister Cannabis Co. additionally offers white-labeling manufacturing of cannabis products. Our wholly owned California subsidiary Hollister Cannabis Co is the 1st state and locally licensed cannabis company in the city of Hollister, CA birthplace of the “American Biker.”

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Information: This news release includes certain statements that may be deemed “forward-looking statements”. The use of any of the words “anticipate“, “continue“, “estimate”, “expect”, “may”, “will”, “would”, “project“, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this News Release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company’s disclosure documents which can be found under the Company’s profile on www.sedar.com