Havn Life will export naturally derived psilocybin to the United States for use in IND-enabling studies and future clinical trials under FDA guidelines
VANCOUVER, BC / ACCESSWIRE / October 20, 2020 / Havn Life Sciences Inc. (CSE:HAVN) (FSE:5NP) (the "Company" or "Havn Life"), a biotechnology company focused on unlocking human potential using evidence-informed research and developing standardized psychoactive compounds derived from plants and fungi, is pleased to announce it has signed an agreement (the "Agreement") to supply Revive Therapeutics Ltd. (CSE:RVV, USA:RVVTF) ("Revive Therapeutics") with psychedelic compounds for use in investigational new drug ("IND") enabling studies and future clinical trials under the Food and Drug Administration ("FDA") guidelines.
Revive Therapeutics is a life sciences company focused on the research and development of therapeutics for rare disorders and infectious diseases. With its recent acquisition of Psilocin Pharma Corp. and advancements of its novel oral-thin film delivery system of psychedelic compounds, Revive is working to advance Psilocybin-based therapeutics for mental health and abuse disorders.
Revive's psilocybin research for its oral-thin film delivery system and its clinical study in the treatment of methamphetamine use disorder are being run under FDA guidelines at the University of Wisconsin-Madison.
Although the psychedelic industry is in its infancy, the signing of a supply agreement serves as a validation for the Havn Life team and the Company's business objectives and revenue streams. Havn Life recently announced the submission of its Licensed Dealer application to Health Canada.
"This agreement with Revive Therapeutics is just the beginning, the demand for naturally-derived psilocybin is there, and it is growing," said Havn Life Co-CEO Susan Chapelle. "Our path at Havn Life has always been very clear: to supply standardized, quality-controlled compounds to researchers so they can do the research that's necessary to document health and wellness benefits of psychedelic medicine and ultimately help the industry with the knowledge required to legalize these compounds. We are thrilled to have signed this supply agreement with Revive Therapeutics to help further their work in this field. Both of our companies are leading innovators in the space, and we look forward to helping Revive achieve their goals with our compound supply."
Michael Frank, CEO of Revive, added: "We are excited about our strategic partnership with Havn Life as one of our suppliers of psychoactive compounds that we intend to develop and commercialize using our established tannin-chitosan based proprietary oral-thin film delivery system, for the pharmaceutical and wellness markets."
The Agreement is reliant on Havn Life obtaining its Controlled Drugs, and Substances Dealers Licence from Health Canada, which the company applied for earlier this month. This is the Company's first contract for the sale of psychedelic compounds.
On Behalf of The Board of Directors
Chief Executive Officer
About Havn Life Sciences Inc.
Havn Life Sciences is a biotechnology company on a mission to unlock human potential using evidence-informed research. The Company is focused on standardized, quality-controlled extraction of psychoactive compounds from plants and fungi and the development of natural health care products from non-regulated compounds. Learn more at havnlife.com and follow us on Facebook, Twitter, and Instagram.
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Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products, and future of the Company's business. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance, and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. The statements in this news release are made as of the date of this release.
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SOURCE: Havn Life Sciences Inc.