Revive Therapeutics Ltd. announced that it has completed the formulation development work of the Company's next-generation lyophilized formulation of Bucillamine conducted at the University of Waterloo. The New Bucillamine has the potential to unlock the therapeutic utility of Bucillamine for treating public health medical emergencies, including pandemic influenza, emerging infectious diseases, and medical countermeasure incidents and attacks. Key research findings and observations include: Lyophilization of Bucillamine enhances solubility 2.7x compared to standard solution of Bucillamine; Inclusion of lyophilization in the Bucillamine formulation approach can result in an ability to increase Bucillamine delivery per dosing unit; and Inclusion of lyophilized formulation approach offers a simple way to create a parenteral injection product with minimal formulation additives.

With this achievement, Revive will work with Attwill Medical Solutions LP in the technology transfer and prepare plans for potential clinical and commercial development in support of specific initiatives that the Company is involved with, such as 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. Also, the Company may explore the New Bucillamine as a potent antioxidant and anti-inflammatory, for rare inflammatory disorders such as ischemia-reperfusion injury (i.e. organ transplantation), which the FDA granted orphan drug designation for in 2022. The Company expects to have New Bucillamine ready for clinical evaluation in 2024.