Mr. Michael Frank reports

REVIVE THERAPEUTICS SECURES MDMA SUPPLY FROM PHARMALA BIOTECH FOR MDMA TRANSDERMAL PATCH DEVELOPMENT

Revive Therapeutics Ltd. has entered into a supply agreement with PharmAla Biotech Holdings Inc. to obtain PharmAla's LaNeo, GMP (good manufacturing practice) source of 3,4-methylenedioxymethamphetamine (MDMA), for the development of Revive's microneedle patch delivery system. Recently, Revive Therapeutics entered into a research collaboration agreement with PharmaTher Holdings to evaluate its microneedle patch technology with MDMA.

PharmAla is the first publicly traded company to manufacture GMP MDMA, and is the first company to make available to customers two clinical-grade psychedelic APIs (active pharmaceutical ingredients). PharmAla is the only publicly traded company to have completed manufacturing of GMP MDMA, and is a registered supplier to customers on three different continents.

"Securing the supply of MDMA from PharmAla allows us to confidently advance our upcoming product and clinical development plans with our MDMA microneedle patch for mental health and abuse disorders," said Michael Frank, chief executive officer of Revive Therapeutics.

"As countries like Australia move to allow the use of MDMA as a therapeutic molecule for the treatment of mental health disorders like PTSD [posttraumatic stress disorder], new drug product forms will be crucial," said Nick Kadysh, CEO of PharmAla. "We're proud to be able to offer our engineering MDMA to Revive in their development of a MDMA microneedle patch, and to ultimately supply them with LaNeo GMP MDMA as their development accelerates into human use."

About Revive Therapeutics Ltd.

Revive is a life sciences company focused on the research and development of therapeutics for infectious diseases and rare disorders, and it is prioritizing drug development efforts to take advantage of several regulatory incentives awarded by the FDA (United States Food and Drug Administration) such as orphan drug, fast track, breakthrough therapy and rare pediatric disease designations. Currently, the company is exploring the use of bucillamine for the potential treatment of infectious diseases, with an initial focus on severe influenza and COVID-19. With its acquisition of Psilocin Pharma Corp., Revive is advancing the development of psilocybin-based therapeutics in various diseases and disorders. Revive's cannabinoid pharmaceutical portfolio focuses on rare inflammatory diseases and the company was granted FDA orphan drug status designation for the use of cannabidiol (CBD) to treat autoimmune hepatitis (liver disease) and to treat ischemia and reperfusion injury from organ transplantation.

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