Mr. Michael Frank reports

REVIVE THERAPEUTICS PROVIDES UPDATE OF NOVEL BUCILLAMINE FORMULATION DEVELOPMENT

Revive Therapeutics Ltd. has provided an update on the development of a next-generation lyophilized formulation of bucillamine.

Under an agreement with the University of Waterloo, formulation development work is continuing and is expected to be completed by the end of the year. The research team has improved the solubility of bucillamine and subsequent lyophilization has resulted in more than double enhancement of solubility, which would unlock the therapeutic utility of bucillamine for public health medical emergencies, including pandemic influenza, emerging infectious diseases, and medical countermeasure incidents and attacks.

Specifically, the novel bucillamine formulation could support the continuation of the research project the company has with the Defence R&D Canada -- Suffield, an agency of the Canadian Department of National Defence, to evaluate bucillamine as a potential treatment for nerve agent exposure. The company expects to have its novel lyophilized formulation of bucillamine ready for production with a contract development manufacturing organization for clinical evaluation in 2024.

In addition, as a potent antioxidant and anti-inflammatory, bucillamine may be helpful for orphan indications in rare inflammatory disorders such as ischemia-reperfusion injury (that is, organ transplantation), which the Food and Drug Administration granted orphan drug designation for in 2022.

About Revive Therapeutics Ltd.

Revive Therapeutics 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 such as emergency use authorization, orphan drug, fast-track and breakthrough therapy designations. Currently, the company is exploring the use of bucillamine for the potential treatment of public health medical emergencies and rare inflammatory disorders. Revive is also advancing the development of psilocybin-based therapeutics through various programs.

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