Like many small-cap biotechs, the share price of CSE-listed Revive Therapeutics (CNSX:RVV) has been revitalised by the possibility of a drug effective in the treatment of infectious diseases including coronavirus.
In Revive’s case, the drug is the long-established rheumatoid arthritis treatment Bucillamine.
Revive originally re-purposed it as a drug for gout and did a FDA phase 2 study in the U.S , but now plans to submit it as a possible treatment for people suffering from lung inflammation from contracting coronavirus (Covid-19).
Michael Frank, Revive’s chairman and chief executive, says Bucillamine has been used for thirty years in Japan and South Korea to ease the inflammatory conditions associated with rheumatoid arthritis.
He believes it can also help coronavirus (Covid-19) patients where lung inflammation is one of the main complications.
Frank further stated ”the history and data support how it has reduced inflammation in other organs”.
The US regulator, the Food and Drug Administration, has asked Revive to now submit its IND under a Phase 3 study.
Bucillamine has a strong clinical history and since Revive conducted a Phase 2 trial for gout in the past, it has strong supporting documentation for the FDA for a potential Phase 3 study.
Revive, though, has more than Bucillamine.
Its other main area of activity currently is psychedelic therapies based on psilocybin.
There is a huge amount of research underway into the use of the naturally occurring psilocybin as an addiction-free anti-depressant,
Revive recently acquired Psilocin Pharma, which is developing ways to deliver the drug using dissolvable thin films and a novel delivery technology licensed from the University of Wisconsin.
Revive has said previously it believes the best methods of delivery will be a dissolvable tablet or a thin strip for the tongue.
Patent applications have been made for a range of delivery methods using psilocybin-based formulations including pens and gum drops, capsules, sublingual spray and gel gaps.
Revive’s value has increased since the start of March and at the current price of C$0.14, the business is valued at C$27mln.