Revive Therapeutics said it entered into a license agreement with the South Carolina Research Foundation (SCRF) under which Revive will acquire an exclusive license from SCRF to develop and commercialize a portfolio of patents based on cannabinoid-based therapeutics, such as Cannabidiol, in the treatment of liver diseases.
The SCRF is a major initiative to increase support for faculty doing research University of South Carolina (USC). Management responsibilities of the SCRF include USC’s intellectual technology licensing program and the USC Columbia Technology Incubator.
Revive said it will pay SCRF a nominal one time fee for entering into the license.
“All other future payments are consistent with industry standard and will be based on clinical trial and revenue milestones reached by Revive in the future,” said Revive.
“The licensing of the patent portfolio of cannabinoids in the treatment of liver diseases is an important milestone for Revive, as we continue to realize our objective of commercializing treatments to address unmet medical needs in liver diseases,” said Craig Leon, Revive CEO.
“We will continue focusing on commercializing our candidates of cannabinoid-based therapies and on expanding our product pipeline in the field of liver disease such as autoimmune hepatitis, liver cirrhosis, non-alcoholic steatohepatitis (NASH), and non-alcoholic fatty liver disease (NAFLD).”