TORONTO, June 13, 2018 (GLOBE NEWSWIRE) — Revive Therapeutics Ltd. (TSX-V:RVV) (OTCQB:RVVTF) (FSE:31R) (“Revive”), a company focused on the research, development and commercialization of novel cannabinoid-based therapies, and WeedMD Inc. (TSX-V:WMD) (OTC:WDDMF) (FSE:4WE) (“WeedMD”), a federally-licensed producer and distributor of medical cannabis, are pleased to announce they have entered into medical cannabis research and development supply and collaboration agreements (the “Agreements”).
Under the Agreements, WeedMD will supply Revive with cannabidiol (“CBD”) for the research program evaluating CBD in the treatment of liver disease, specifically non-alcoholic steatohepatitis (“NASH”) and autoimmune hepatitis (“AIH”). Working alongside Revive, WeedMD will support the research, development and potential commercialization of CBD in the treatment of liver disease. Additionally, Revive and WeedMD will identify opportunities for developing and commercializing medical cannabis products and therapies for potential collaboration in other treatments.
“The relationship with WeedMD represents a significant milestone for Revive as we have secured a strategic supply of medical-grade CBD for our research, development and commercialization efforts for liver diseases,” said Fabio Chianelli, President of Revive. “With WeedMD’s commitment to the research, development and commercialization of medical grade cannabis, they are the ideal strategic partner for Revive to accelerate the execution of our business plan in commercializing novel cannabinoid-based therapies and to validate our commercial development efforts in the medical cannabis market.”
“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 of 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.”
Having recently secured the intellectual property for its own delivery systems, Revive has assembled a diversified pipeline of pharmaceutical, prescription, and over the counter (OTC) products and together with WeedMD, they will evaluate the efficacy of CBD in the treatment of NASH and AIH, in addition to other potential indications in the future.
About WeedMD Inc.
WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of medical cannabis and cannabis oil under the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). WeedMD operates a 26,000 sq. ft. indoor facility in Aylmer, Ontario, and a second-site greenhouse cultivation facility located in Strathroy, Ontario, representing 610,000 sq. ft. or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established cannabis brands.
WeedMD is focused on providing medical cannabis to the seniors’ market in Canada through its specialized and comprehensive platform. It is dedicated to educating healthcare practitioners and furthering public understanding of the role that medical cannabis plays – including as it pertains to regulatory requirements, indications and potential side effects.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV) (OTCQB:RVVTF) is focused on the research, development and commercialization of novel cannabinoid-based therapies. Additional information on Revive is available at www.ReviveThera.com.
For further information, please contact:
Keith Merker, Chief Financial Officer
Tel: 519-765-2440 Ext. 222
To learn more, visit us at www.weedmd.com
For Media Inquiries:
Margin Communications & Public Relations
WeedMD Inc. Forward-Looking Information
This press release contains forward-looking information based on current expectations. Statements about the date of trading of the Company’s common shares on the Exchange and final regulatory approvals, among others, are forward-looking information. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Revive Therapeutics Ltd. Cautionary Note Regarding Forward-Looking Statements
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute “forward-looking information” that involves known and unknown risks and uncertainties, which are not comprised of historical facts, and most of which are beyond the control of Revive. Forward-looking statements include estimates and statements that describe Revive’s future plans, objectives or goals, including words to the effect that Revive or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”, and similar expressions. Specifically, forward-looking statements in this news release include, without limitation, statements regarding: Revive’s cannabis research and development supply agreement with WeedMD; Revive’s Collaboration Agreement for Medical Cannabis Products and Therapies with WeedMD; Revive’s drug research and development, and commercialization plans; Revive’s research, development and commercialization plans for plant-based therapies, including cannabinoids; Revive’s cannabinoid delivery technology; Revive’s license agreement with Wisconsin Alumni Research Foundation; Revive’s cannabinoid-based product pipeline; the timing of operations; and estimates of market conditions. These statements involve known and unknown risks, uncertainties, and other factors that may cause actual results or events, performance, or achievements of Revive to differ materially from those anticipated or implied in such forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Revive believes that the expectations reflected in these forward-looking statements are reasonable, but there can be no assurance that actual results will meet management’s expectations. In formulating the forward-looking statements contained herein, management has assumed: that business and economic conditions affecting Revive will continue substantially in the ordinary course and will be favourable to Revive; that clinical testing results will justify commercialization of the Revive’s drug candidates; that Revive will be able to obtain all requisite regulatory approvals to commercialize its drug candidates; that such approvals will be received on a timely basis; and, that Revive will be able to find suitable partners for development and commercialization of its drug repurposing candidates on favourable terms. Although these assumptions were considered reasonable by management at the time of preparation, they may prove to be incorrect and no assurance can be given that such events will occur in the disclosed time frames or at all.
Factors that may cause actual results to differ materially from those anticipated by these forward-looking statements include: uncertainties associated with obtaining regulatory approval to perform clinical trials and market products; the need to establish additional corporate collaborations, distribution or licensing arrangements; Revive’s ability to raise additional capital if and when necessary; intellectual property disputes; increased competition from pharmaceutical and biotechnology companies; changes in equity markets, inflation, and changes in exchange rates; and other factors as described in detail in Revive’s Management’s Discussion & Analysis for the period ended June 30, 2017 and Revive’s other public filings, all of which may be viewed on SEDAR (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.