St. Joe Co
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Real Estate : Real Estate Management & Development | Small Cap Growth
Company profile

The St. Joe Company is a real estate development, asset management and operating company. The Company operates through five segments: residential real estate; commercial real estate; resorts and leisure; leasing operations, and forestry. Its residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land. Its commercial real estate segment plans, develops, manages and sells real estate. Resorts and leisure segment features a portfolio of vacation rentals and hotel operations, as well as golf courses, a beach club, marinas and other related resort amenities. Its leasing operations business includes its retail and commercial leasing. Its forestry segment focuses on the management of its timber holdings in Northwest Florida.

Closing Price
$47.16
Day's Change
0.99 (2.14%)
Bid
--
Ask
--
B/A Size
--
Day's High
47.29
Day's Low
45.62
Volume
(Above Average)
Volume:
238,016

10-day average volume:
215,786
238,016

Revive Therapeutics Acquires Unique Psilocybin Assets

9:00 am ET February 17, 2021 (Globe Newswire) Print

Revive Therapeutics Ltd. ("Revive" or the "Company") (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce that, further to its press release dated December 21, 2020, it has entered into an asset purchase agreement (the "Agreement") with Newscope Capital Corporation ("Newscope") (CSE: PHRM) (OTCQB: PHRRF) to acquire the full rights to PharmaTher Inc.'s ("PharmaTher") intellectual property (the "Acquired Assets") pertaining to psilocybin (the "Acquisition"). PharmaTher, a wholly-owned subsidiary of Newscope, is a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals.

Pursuant to the Agreement, Revive will pay aggregate consideration of up to CAD $10 million (the "Purchase Price"). The Purchase Price will be satisfied as follows: (i) $3 million in cash will be paid on the closing date; (ii) $4 million will be satisfied through the issuance of securities in the capital of Revive and (iii) up to $3 million, in either cash or securities in the capital of Revive, in the event that Revive achieves certain milestones, which include Revive obtaining FDA orphan drug designation for psilocybin in the treatment of stroke, traumatic brain injury, or cancer, the commencement of a Phase 2 clinical trial and the regulatory filing for market authorization, such as U.S. Food and Drug Administration ("FDA") approval. In addition to the Purchase Price, Revive will also pay Newscope a low single digit royalty on all future net sales of products derived from the Acquired Assets.

The Acquired Assets will include all of the following:

 (i)   Psilocybin in the Treatment of Neurological Brain Injury - United States Provisional Application Serial No. 63/011,493 - Relates to pharmaceutical compositions comprising psilocybin and their use for the treatment of neurological brain injuries and migraines.
 (ii)  Use of Psilocybin in the Treatment of Cancer, United States Provisional Application Serial No. 63/113,913 - Psilocybin's use of significant unmet medical needs for Liver Carcinoma, Melanoma, Breast Neoplasms, Kidney Neoplasms and Acute Myeloid Leukemia.
 (iii) Psilocybin Pharmaceutical Combination Therapies, United States Provisional Application Serial No. 63/125,106 - Novel combinations of certain FDA approved drugs with psilocybin as a potential therapeutic option to reduce the side effects and improve the effectiveness of psilocybin to treat neurological disorders.

"With this acquisition, we have solidified our foundation in having a leading psychedelics pharmaceutical platform with a focus on proprietary psilocybin-based therapeutics that includes the development of an oral thin film product in collaboration with the University of Wisconsin-Madison, a novel biosynthetic version of psilocybin based on a natural biosynthesis enzymatic platform developed by Dr. Gavin Williams, Professor and Researcher at North Carolina State University, a clinical study with the University of Wisconsin evaluating psilocybin in the treatment of methamphetamine use disorder, and PharmaTher's psilocybin research initiatives and intellectual property in stroke, traumatic brain injury, cancer and drug combinations," said Michael Frank, CEO of Revive. "We are now in a position to advance our psilocybin program for future clinical development in various unmet clinical needs in mental health, cancer and neurological disorders."

"We are pleased to have partnered PharmaTher's psilocybin program with Revive as they have positioned themselves as a leader in psilocybin pharmaceutical development with their unique product and delivery technology offerings as well as their commitment in commercializing a biosynthetic form of psilocybin for long-term sustainability," said Fabio Chianelli, CEO of Newscope.

About Revive Therapeutics Ltd.

Revive 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 recent 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. 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 "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 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 annual MD&A for the fiscal year ended June 30, 2020, which has been filed on SEDAR and is available under the Company's profile at www.sedar.com.

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