Revive Therapeutics Announces LOI to Acquire DiagnaMed’s Molecular Hydrogen Program
Revive Therapeutics (RVVTF) has entered into a non-binding letter of intent to acquire DiagnaMed Holdings Corp.'s intellectual property related to molecular hydrogen treatments for neurological and mental health disorders. The acquisition includes:
- A provisional patent application for pharmaceutical-based methods and compositions for molecular hydrogen treatments
- Research work and FDA Orphan Drug Designation for molecular hydrogen in treating ALS
The acquisition is expected to close by March 31, 2025. The company aims to develop treatments for conditions including Dementia, Parkinson's, Traumatic brain injury, Depression, Anxiety, and PTSD. Additionally, Revive secured a $65,000 loan at 8% interest, maturing February 19, 2026, for working capital needs.
Revive Therapeutics (RVVTF) ha firmato una lettera di intenti non vincolante per acquisire la proprietà intellettuale di DiagnaMed Holdings Corp. relativa ai trattamenti con idrogeno molecolare per disturbi neurologici e di salute mentale. L'acquisizione include:
- Una domanda di brevetto provvisorio per metodi e composizioni farmacologiche basate su trattamenti con idrogeno molecolare
- Lavoro di ricerca e Designazione di Farmaco Orfano da parte della FDA per l'idrogeno molecolare nel trattamento della SLA
Si prevede che l'acquisizione si concluda entro il 31 marzo 2025. L'azienda mira a sviluppare trattamenti per condizioni come Demenza, Parkinson, Lesioni cerebrali traumatiche, Depressione, Ansia e PTSD. Inoltre, Revive ha ottenuto un prestito di $65.000 con un tasso d'interesse dell'8%, in scadenza il 19 febbraio 2026, per le esigenze di capitale circolante.
Revive Therapeutics (RVVTF) ha firmado una carta de intención no vinculante para adquirir la propiedad intelectual de DiagnaMed Holdings Corp. relacionada con tratamientos de hidrógeno molecular para trastornos neurológicos y de salud mental. La adquisición incluye:
- Una solicitud de patente provisional para métodos y composiciones farmacéuticas basadas en tratamientos de hidrógeno molecular
- Trabajo de investigación y Designación de Medicamento Huérfano de la FDA para el hidrógeno molecular en el tratamiento de la ELA
Se espera que la adquisición se cierre antes del 31 de marzo de 2025. La empresa tiene como objetivo desarrollar tratamientos para condiciones como Demencia, Parkinson, Lesiones cerebrales traumáticas, Depresión, Ansiedad y PTSD. Además, Revive aseguró un préstamo de $65,000 con un interés del 8%, que vence el 19 de febrero de 2026, para necesidades de capital de trabajo.
Revive Therapeutics (RVVTF)는 신경 및 정신 건강 장애를 위한 분자 수소 치료와 관련된 DiagnaMed Holdings Corp.의 지적 재산을 인수하기 위한 비구속적인 의향서를 체결했습니다. 인수에는 다음이 포함됩니다:
- 분자 수소 치료를 위한 제약 기반 방법 및 조성물에 대한 임시 특허 출원
- ALS 치료를 위한 분자 수소에 대한 FDA 고아약 지정 및 연구 작업
인수는 2025년 3월 31일까지 완료될 것으로 예상됩니다. 이 회사는 치매, 파킨슨병, 외상성 뇌손상, 우울증, 불안 및 PTSD와 같은 질환에 대한 치료법을 개발하는 것을 목표로 하고 있습니다. 또한 Revive는 2026년 2월 19일 만기인 8% 이자율의 65,000달러 대출을 확보하여 운영 자본 필요에 대응하고 있습니다.
Revive Therapeutics (RVVTF) a signé une lettre d'intention non contraignante pour acquérir la propriété intellectuelle de DiagnaMed Holdings Corp. relative aux traitements à base d'hydrogène moléculaire pour les troubles neurologiques et de santé mentale. L'acquisition comprend :
- Une demande de brevet provisoire pour des méthodes et compositions pharmaceutiques basées sur des traitements à l'hydrogène moléculaire
- Travaux de recherche et désignation de médicament orphelin par la FDA pour l'hydrogène moléculaire dans le traitement de la SLA
L'acquisition devrait être finalisée d'ici le 31 mars 2025. L'entreprise vise à développer des traitements pour des conditions telles que la démence, la maladie de Parkinson, les lésions cérébrales traumatiques, la dépression, l'anxiété et le PTSD. De plus, Revive a obtenu un prêt de 65 000 $ à un taux d'intérêt de 8 %, arrivant à échéance le 19 février 2026, pour ses besoins en fonds de roulement.
Revive Therapeutics (RVVTF) hat einen unverbindlichen Absichtserklärung unterzeichnet, um das geistige Eigentum von DiagnaMed Holdings Corp. im Zusammenhang mit molekularen Wasserstoffbehandlungen für neurologische und psychische Erkrankungen zu erwerben. Die Akquisition umfasst:
- Eine vorläufige Patentanmeldung für pharmazeutische Methoden und Zusammensetzungen für molekulare Wasserstoffbehandlungen
- Forschungsarbeiten und die FDA-Anerkennung als Waisenarzneimittel für molekularen Wasserstoff zur Behandlung von ALS
Die Akquisition wird voraussichtlich bis zum 31. März 2025 abgeschlossen sein. Das Unternehmen plant, Behandlungen für Erkrankungen wie Demenz, Parkinson, traumatische Hirnverletzungen, Depressionen, Angstzustände und PTSD zu entwickeln. Darüber hinaus sicherte sich Revive ein Darlehen über 65.000 USD mit 8% Zinsen, das am 19. Februar 2026 fällig ist, um den Arbeitskapitalbedarf zu decken.
- FDA Orphan Drug Designation obtained for molecular hydrogen ALS treatment
- Access to large market with 50,000 ALS patients in US/Europe
- Patent-pending technology for multiple neurological conditions
- Expansion into high-value neurological treatment market
- $65,000 loan at 8% interest adds to debt burden
- Non-binding LOI with no guaranteed completion
- Early-stage technology with no proven clinical efficacy
- No immediate revenue generation potential
TORONTO, March 03, 2025 (GLOBE NEWSWIRE) -- TORONTO, March 3, 2025 – Revive Therapeutics Ltd. (“Revive” or the “Company”) (OTCQB: RVVTF) (CSE: RVV) (FRANKFURT:31R), a specialty life sciences company focused on the research and development of therapeutics for infectious diseases, rare disorders, and medical countermeasures, is pleased to announce that it has entered into a non-binding letter of intent (the “LOI”), dated February 28, 2025, to acquire the full rights to DiagnaMed Holdings Corp.’s (CSE: DMED) (OTCQB: DGNMF) (“DiagnaMed”) intellectual property (the “Acquired Assets”) pertaining to molecular hydrogen as potential treatments for neurological and mental health disorders (the “Acquisition”).
The Acquired Assets will include all of the following:
- Provisional patent application with the U.S. Patent and Trademark Office outlining pharmaceutical-based methods and compositions for producing molecular hydrogen as potential treatments for neurological and mental health disorders. The patent application, entitled “Methods and Compositions for Producing Hydrogen for Treating Diseases and Disorders Affecting Brain Health,” outlines novel combinations of certain pharmaceutical-grade hydrogen producing ingredients as a potential therapeutic option for a variety of neurological disorders such as, but not limited to, Dementia, Parkinson’s disease, and Traumatic brain injury, and mental health disorders including, Depression, Anxiety, and Post-traumatic stress disorder (press release).
- All intellectual and work property derived from DiagnaMed’s research activities in amyotrophic lateral sclerosis (ALS) and its Orphan Drug Designation (ODD) for molecular hydrogen in the treatment of ALS by the U.S. Food and Drug Administration (FDA).
Michael Frank, CEO of Revive, commented: “We are excited about advancing the clinical development of molecular hydrogen for brain disorders, specifically as a potential treatment for ALS. The orphan drug designation granted by the FDA for molecular hydrogen in ALS offers hope to patients and families impacted by this debilitating illness. We are committed to collaborating with leading ALS researchers, patient advocacy groups, and regulatory experts to ensure a rigorous and expedited path toward potential approval.”
ALS is a progressive neuromuscular disease that attacks nerve cells responsible for controlling voluntary muscle movement, leading to paralysis and, ultimately, respiratory failure, and has a life expectancy of only two to six years after diagnosis. Currently, there is no known cure for ALS. ALS affects approximately 50,000 people in the U.S. and Europe, with over 5,000 new cases diagnosed annually. With limited treatment options available, the FDA’s recognition of molecular hydrogen as an orphan drug offers hope to patients and families impacted by this debilitating illness.
Molecular hydrogen, a small molecule with antioxidant and anti-inflammatory properties, has shown early promise in preclinical studies for its ability to mitigate oxidative stress and inflammation—key factors implicated in ALS progression. The FDA’s decision paves the way for Revive to accelerate its development programs with molecular hydrogen.
The final terms of the Acquisition will be agreed to by the parties after the completion of due diligence by Revive. The Acquisition is expected to close on or before March 31, 2025, subject to customary closing conditions, including but not limited to, the negotiation and execution of a definitive agreement.
Revive also announces that it has entered into a promissory note with an arm’s length private lender pursuant to which Revive has received a loan in the principal amount of
About Revive Therapeutics Ltd.
Revive Therapeutics is a life sciences company focused on the research and development of therapeutics for infectious diseases and medical countermeasures. Revive prioritizes its 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 nerve agent exposure and long COVID. Revive is also advancing the development of Psilocybin-based therapeutics through various programs. For more information, visit www.ReviveThera.com.
For more information, please contact:
Michael Frank
Chief Executive Officer
Revive Therapeutics Ltd.
Tel: 1 888 901 0036
Email: mfrank@revivethera.com
Website: www.revivethera.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement
This press release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words “may”, “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Revive’s current belief or assumptions as to the outcome and timing of such future events. Forward looking information in this press release includes information with respect to the Company’s cannabinoids, psychedelics and infectious diseases programs. Forward-looking information is based on reasonable assumptions that have been made by Revive at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Revive is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Reference is made to the risk factors disclosed under the heading “Risk Factors” in the Company's management's discussion and analysis for the three months ended September 30, 2024 ("MD&A"), dated November 29, 2024, which is available on the Company's profile at www.sedarplus.ca.
FAQ
What intellectual property is RVVTF acquiring from DiagnaMed Holdings?
When is the expected closing date for RVVTF's acquisition of DiagnaMed's molecular hydrogen program?
What medical conditions will RVVTF target with the acquired molecular hydrogen technology?
What is the current market size for ALS treatment that RVVTF is targeting?
