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Revive Therapeutics Ltd (OTCMKTS:RVVTF) Acquires Full IP Rights to Psilocybin From The Subsidiary Of Newscope Capital Corporation (OTCMKTS:PHRRF)

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Revive Therapeutics Ltd (OTCMKTS:RVVTF) acquired IP to Psilocybin of PharmaTher Inc., which is a subsidiary of Newscope Capital Corporation (OTCMKTS:PHRRF), for CAD 10 million.

Revive Therapeutics will pay $3 million in cash on concluding the deal to Newscope. It will issue its securities for an additional $4 million of the transaction. The company will pay the balance of $3 million either in stock or cash on meeting certain milestones such as receipt of orphan drug designation for its Psilocybin from the US FDA to treat cancer, traumatic brain injury, and stroke.

Advances psilocybin platform to treat neurological disorders

CEO of Revive Therapeutics, Michael Frank, said the takeover of Psilocybin strengthens its position to build OTF (oral thin film) products together with the University of Wisconsin-Madison. Revive Therapeutics can advance the psilocybin platform to address unmet clinical requirements in cancer, health, and neurological disorders.

CEO of Newscope, Fabio Chianelli, said the company is excited to enter a pact with Revive Therapeutics for its psilocybin program. Revive Therapeutics is already an established leader in the development of psilocybin pharmaceuticals.

An update on the evaluation of Bucillamine

Revive Therapeutics issued an update on the phase 3 clinical study of Bucillamine. The company is evaluating its efficacy and safety in patients suffering from moderate to mild coronavirus. It plans to expand the clinical trial to 50 clinical sites from the present 14 sites for the next enrollment study requirements in Q2 2021 with the recent financial support of $23 million.

It is a randomized, placebo-controlled, and double-blinded clinical trial. In this trial, the efficacy and safety data will be analyzed at each analysis time point of 400, 210, 800, and 600 completed patients and reported to the DSMP (Data and Safety Monitoring Board).

An independent DSMP will review the data and recommend appropriate changes to the study or stop the trial in serious safety concerns. Today, DSMP does not find any adverse safety concerns in the interim report involving 210 patients.

Michael said the company is additional clinical sites to satisfy the enrollment targets with the recent funding. It helps the company to satisfy the needs of the FDA and seek EUA approval.

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GB Sciences (OTCMKTS: GBLX) Launches AI-Drug Discovery Platform, PhAROS

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GB Sciences (OTCMKTS: GBLX) has launched a drug discovery platform that employs AI to identify and predict the efficiency of combinations of active plant ingredients. The company is leading the way with the AI-drug discovery platform called PhAROS (Phytomedical Analytics for Research Optimization at Scale).

PhAROS platform employs machine learning and data analytics 

Researchers may cut the time and money it takes to bring novel, plant-inspired formulations to market using PhAROS’s machine learning and data analytics capabilities. PhAROS, according to GB Sciences, enables the early discovery and verification of innovative plant-based medicines before large sums of money are spent on research.

GB Sciences began training the proprietary drug discovery platform with their cannabis pant active ingredients database. Still, they’ve since expanded it to include other proprietary active plant ingredients and other natural products (such as mushrooms).

The company’s CEO, Andrea Small-Howard, said, “Our company has assembled the ultimate toolkit to create the ‘Future of Medicine’: AI technology, plant-based medicine, and hard science. PhAROS allows us to look for effective combination drugs amongst all of the known traditional medicine systems and determine which combinations of active ingredients are likely to work synergistically in a complex view of the human disease. The PhAROS platform yields numerous concrete, potentially effective, plant-inspired combination drugs to help millions worldwide and also pre-screens these drug candidates for potentially unwanted side effects.”

Andrea Small-Howard appointed GB Sciences President.

Recently, GB Sciences Board promoted Dr. Andrea Small-Howard to be president of the company. Still, she will also retain her riled as a board of directors member and chief scientific officer. Howard has been in the company since 2014, and as president, she will mature GB Sciences’ innovative programs create in the last seven years. In addition, the company is looking to weave the separate programs synergistically to become a plant-focused innovative biopharmaceutical company. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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Columbia Care Inc. (OTCMKTS: CCHWF) Commences Cultivation in West Virginia, Real Brands Inc. (OTCMKTS: RLBD) Becomes Reporting Compliant

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Columbia Care Inc. (OTCMKTS: CCHWF) has announced that the West Virginia Department of Health and Human Resources has given it the approval to commence cultivation operations at its Falling Waters facility. 

Columbia Care to start cultivation in West Virginia 

Nicholas Vita, Columbia Care CEO, said, “We are excited to begin cultivation in West Virginia and be one step closer to providing relief to the patients who need it. Our ability to begin operations solidifies our position as a leader in the state. As we begin design of Phase 2 of our buildout, we will add more square feet to our facilities to continue to meet the demand of the medical program in West Virginia.”

Columbia Care is among the ten provisionally licensed growers in West Virginia, and the Falling Waters facility will use the available maximum growing spaces as permitted under the state’s laws. Already, the company has started developing all its five medical cannabis dispensaries across the state. 

Real Brands becomes a fully compliant reporting  company 

Real Brands Inc. (OTCMKTS: RLBD) has filed SEC’s form 10 as the last step in its journey of becoming a compliant publicly listed company. As part of the reporting and compliance process, the company has finalized a two-year financial audit and created an audit committee comprising their independent directors and an appointed independent outside Board of Directors. 

Thom Kidrin, the company’s CEO, said,  “Becoming a fully compliant, audited reporting company is a major milestone for Real Brands, as it provides the information and transparency into the company’s business and finances that should make it more attractive to a broader array of potential investors, shareholders, clients, vendors and business associates. This should also make it easier to raise capital on favorable terms to fund our growth — a win for our employees, shareholders and customers.”

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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The Supreme Court of British Columbia Grants MYM Nutraceuticals Inc. (OTCMKTS: MYMMF) a Final Order Regarding its Plan of Arrangement with IM Cannabis Corp

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MYM Nutraceuticals Inc. (OTCMKTS: MYMMF) can now complete its arrangements with IM Cannabis Corp. The Supreme Court of British Columbia has approved the acquisition of all of the issued and outstanding common shares of MYM by IMC through its wholly-owned subsidiary Trichome Financial Corp. Accordingly, the Consideration is to have 0.022 of an IMC common share for each MYM Share held as formerly announced in April 2021 and following an MYM Shareholders meeting held on July 5, 2021. Accordingly, MYM Shareholders will receive the Consideration in exchange for each MYM Share held on fulfilling all the conditions. On the other hand, there will be a delisting of the MYM Shares from the Canadian Securities Exchange.

MYM cultivates, processes, and distributes premium cannabis through its two wholly-owned subsidiaries, SublimeCulture Inc. and Highland Grow Inc. On the other hand, IMC, headquartered in Israel with set-ups in Canada and Germany, operates within the medical and adult-use recreational cannabis sector. The company is well known for maintaining quality and consistency in the Israeli medical cannabis market over the past decade.  

The closure of the acquisition of MYM is one of the many strategic alliances IMC is using to augment its European presence. It is also working closely with EU GMP-certified medical cannabis processors and distributors and Adjupharm GmbH (“Adjupharm”), a German-based subsidiary. The two play a significant role in capitalizing on the increasing demand for medical cannabis products in Europe.   

Visionaries Who Strive To Expand the Knowledge in Any Way, At Any Given Moment

Since its inauguration in 2008, IMC has been built a legacy of nurturing strains for a fundamental cause. To date, the company has developed a wide range of quality strains, which enable every patient to find the perfect match for their medical condition. Innovation, meticulous manufacturing procedures, use of active ingredients concentration levels, and standard plants are some of the core values IMC applies in their efforts to provide a better quality of life. 

[optin-monster-shortcode id="lt2ftjs5qhrst1pzmmap"] *Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.
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