VANCOUVER, British Columbia, Feb. 24, 2022 (GLOBE NEWSWIRE) -- HAVN Life Sciences Inc. (CSE: HAVN) (OTC: HAVLF) (FSE: 5NP) (the "Company" or "HAVN Life") a biotechnology company pursuing standardized extraction of psychedelic compounds for investigational research as potential APIs to support brain health and cognitive function, is pleased to announce it has successfully secured a purchase order for naturally derived psilocybin from their Canadian supply partner, Revive Therapeutics Ltd. (CSE: RVV) (OTC: RVVTF) (FSE: 31R) ("Revive") for use in clinical research studies. The Company previously signed a supply agreement with Revive in October, 2021.
In fulfilling of the purchase order, HAVN Life will export naturally derived GMP psilocybin extract from its facility in Jamaica into the U.S. through its distribution partner, Mycrodose Therapeutics Inc. ("Mycrodose") for use by the University of Wisconsin-Madison ("UW-Madison"), a Contract Research Organization ("CRO") for Revive. This shipment of naturally derived psilocybin will allow UW-Madison to conduct research and formulation work to finalize dosing and delivery mechanisms in support of various studies to be sponsored by Revive using an oral-thin and Hydra-gel delivery systems of psychedelics to treat mental health disorders.
"We are so pleased to be able to supply our naturally derived, GMP psilocybin for this potentially ground-breaking research related to addiction disorders," says HAVN Life CEO Tim Moore. "It is our hope that research like this will help in the push toward the rescheduling of Schedule I compounds like psilocybin and psilocin, making treatment more accessible and helping to ease the growing mental health and addiction crisis we are facing today," he adds.
"We are excited to work with HAVN Life to move forward with our investigational clinical trials including our project in Antigua", says Revive CEO Michael Frank. He adds, "we are eager to advance the science on botanically-derived ingredients such as psilocin and psilocybin".
"Mycrodose is very pleased to continue our efforts to progress the use of therapies based on botanically-derived psilocybin products with HAVN Life by expanding the use of psilocybin in research across the United States. Our DEA authorization to legally distribute psilocybin for authorized research purposes helps us facilitate the ease and access of using this Schedule I substance by DEA-licensed Universities, CROs, and other institutions in the United States," says Chad Conner, Chief Executive Officer, Mycrodose Therapeutics. "We wish Revive Therapeutics and The University of Wisconsin-Madison continued success as they further progress their clinical trials investigation treatments," he adds.
Revive Therapeutic Ltd. is a life sciences company focused on the research and development of therapeutics for rare disorders and infectious diseases. With its 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.
Mycrodose is one of only a few US-pharmaceutical companies that has been authorized by the United States Drug Enforcement Agency ("DEA"), State of California Attorney General's Research Advisory Board, and The Food & Drug Administration ("FDA") to research and develop a total of eight (8) Schedule I and III compounds. In addition, the DEA has granted Mycrodose authorization to import and distribute for resale the controlled substances of psilocybin and psilocin to approved organizations for clinical trials, research and development, and analytical purposes.
HAVN Life's operations in Jamaica are facilitated by strategic partnerships with Hypha Wellness and P.A. Benjamin Manufacturing Company to provide cultivation and processing facilities for psilocybe mushrooms.
On Behalf of The Board of Directors
Chief Executive Officer
About HAVN Life Sciences Inc.
HAVN Life Sciences is a biotechnology company pursuing standardized extraction of psychedelic compounds for investigational research as potential APIs, the development of natural health products, and innovative therapies to support brain health and enhance the capabilities of the mind.
Through its research division, HAVN Labs, the company has developed an end-to-end supply chain of standardized, naturally derived psychedelic compounds for investigational research in an effort to define the future of modern medicine. HAVN Life offers a full range of high-quality mushroom and plant extracts that help support immune function and support a healthy lifestyle.
Purchase our plant-based Natural Health Products and find out more at yourhavnlife.com, and follow us on Facebook, Twitter, Instagram and Youtube.
About Revive Therapeutics Ltd.
Revive Therapeutics Ltd. Therapeutics Ltd 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 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.
About Mycrodose Therapeutics Inc.
Mycrodose Therapeutics Inc. is a U.S.-Based pharmaceutical company headquartered in San Diego, California specializing in the development of advanced drug delivery systems utilizing DEA Schedule I & III drugs and other compounds to treat cancer related conditions, mental health, and cognitive degenerative diseases. The company believes that its IP-Protected Sustained Microdosing Technology(TM) is a smarter and safer approach to delivering pharmaceutical compounds to patients of all ages and allows for an expandable and scalable business model.
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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 purchase order for naturally derived psilocybin from Revive (the "Purchase Order"), the exportation naturally derived GMP psilocybin extract from the Company's facility in Jamaica into the U.S. through Mycrodose (the "Exportation") and delivery of the naturally derived GMP psilocybin extract to UW-Madison in order for UW-Madison to conduct research and formulation work (the "Delivery and Use"), Revive's business, products and future of Revive's business, Mycrodose's business, products and future of Mycrodose's business and 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 Purchase Order may not be completed as contemplated, or at all, the risks that the Exportation may not be completed as contemplated, or at all, risks that the Delivery and Use may not be completed as contemplated, or at all, risks that Revive's products and plan will vary from those stated in this news release and Revive may not be able to carry out its business plans as expected, risks that Mycrodose's products and plan will vary from those stated in this news release and Mycrodose may not be able to carry out its business plans as expected and 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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