Revive Therapeutics Enters into Worldwide Exclusive Agreement with Lawson Health Research Institute to Develop and Commercialize a Novel Long COVID Rapid Test
TORONTO, Nov. 06, 2023 (GLOBE NEWSWIRE) -- 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 medical needs and rare disorders, newly-formed subsidiary, Revive Diagnostics Inc., today announced that it has entered into a license agreement with Lawson Health Research Institute for the worldwide exclusive rights to novel blood biomarkers that characterize long COVID. The discovery of the biomarkers identified by a research team at Lawson, led by Dr. Douglas Fraser, was recently published in the journal, Molecular Medicine1.
- Currently, there is no FDA-approved clinical diagnosis of long COVID and it is estimated to occur in at least 10% of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infections.
- Revive Therapeutics and Lawson will work together in completing the development of a qELISA laboratory test kit and a lateral flow assay point of care device for rapid testing of long COVID.
- In addition, Revive Therapeutics will evaluate the potential of the long COVID test as a companion to Bucillamine – a potential treatment for long COVID disease.
- Under the terms of the agreement, Revive Diagnostics Inc., a subsidiary of Revive Therapeutics, has gained exclusive worldwide rights to intellectual property for the development and commercialization of novel blood biomarkers that characterize long COVID disease.