ENTERS INTO EXCLUSIVE LICENSE AGREEMENT FOR CANNABINOIDS-BASED THERAPEUTICS IN THE TREATMENT OF LIVER DISEASES
Revive Therapeutics Ltd. (RVV.V) has entered into a licence agreement with South Carolina Research Foundation (SCRF), under which Revive will acquire an exclusive licence from SCRF to develop and commercialize a portfolio of patents based on cannabinoid-based therapeutics, such as cannabidiol, in the treatment of liver diseases.
"The licensing of the patent portfolio of cannabinoids in the treatment of liver diseases is an important milestone for Revive, as we continue to realize our objective of commercializing treatments to address unmet medical needs in liver diseases," said Craig Leon, Chief Executive Officer of Revive. "We will continue focusing on commercializing our candidates of cannabinoid-based therapies and on expanding our product pipeline in the field of liver disease such as autoimmune hepatitis, liver cirrhosis, non-alcoholic steatohepatitis (NASH), and non-alcoholic fatty liver disease (NAFLD)."
Revive will pay SCRF a nominal one time fee for entering into the license. All other future payments are consistent with industry standard and will be based on clinical trial and revenue milestones reached by Revive in the future.
About Liver Disease
Liver disease is described by irregular functioning of liver, causing disorders like hepatitis, fatty liver (NASH), and cirrhosis. There are over 100 described diseases of the liver affecting at least 30 million people alone in the U.S. A number of factors are driving the liver disease treatment market, which includes rapidly changing lifestyle patterns such as increasing alcohol consumption, unhealthy diets, and increasing prevalence of liver diseases. Liver diseases can result from injury to the liver caused by hepatitis C virus (HCV), hepatitis B virus (HBV), obesity, chronic excessive alcohol use or autoimmune diseases. Major drug categories used in the treatment of liver diseases includes anti-rejection drugs, vaccines, immunosuppressant, chemotherapy drugs and antiviral drugs. According to Allied Market Research, titled, "World Liver Disease Treatment Market - Opportunities and Forecast, 2014 - 2022", the global market for liver disease treatment is projected to reach $19,536 million by 2022.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. (TSX VENTURE:RVV)(OTCQB:RVVTF) is focused on the research, development and commercialization of novel treatments for serious and unmet medical needs by identifying and investigating potential therapies targeting the endocannabinoid system, such as cannabinoids, that may be repurposed for new indications, be delivered in a different way, combined with existing drugs, or be developed as new chemical entities. Additional information on Revive is available at www.ReviveThera.com.