Revive Therapeutics (TSXV:RVV; OTCQB:RVVTF) announced a new collaboration agreement with Chemi Pharmaceutical, a Licensed Dealer for cannabis pursuant to the Controlled Drugs and Substances Act under Health Canada and a laboratory approved by the US Food and Drug Administration (FDA).
As quoted in the press release:
The Agreement with Chemi Pharma strengthens Revive’s ambition in becoming a leader in the medical cannabis market. Under Chemi Pharma’s Dealer’s License, it enables Revive to conduct research, development, and analytical testing on the Company’s proprietary medical cannabis products, including its cannabinoid delivery system, and it unlocks the potential of Revive’s commercialization plans and partnering with Canadian licensed producers of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations (“ACMPR”). Revive is commercializing novel medical cannabis products targeting liver disease, pain, dermatology and rare diseases with US FDA approval for orphan drug designation while leveraging technologies such as blockchain and artificial intelligence (“AI”) or machine learning to support the Company’s objectives.
“We are very excited with our collaboration with Chemi Pharma as it serves as an important part of our strategy in becoming a global leader in the medical cannabis industry while unlocking opportunities in partnering with pharmaceutical companies and licensed producers of medical cannabis,” said Fabio Chianelli, President of Revive.