Revive Therapeutics Ltd. (OTCQB: RVVTF) has entered into a non-binding letter of intent to acquire DiagnaMed Holdings Corp.'s molecular hydrogen program, marking a significant expansion into neurodegenerative disease treatment. The agreement, dated February 28, 2025, encompasses intellectual property rights for molecular hydrogen-based treatments targeting neurological and mental health disorders.
Strategic Acquisition Details
The acquisition package includes a provisional patent application filed with the U.S. Patent and Trademark Office, outlining novel pharmaceutical methods for producing molecular hydrogen. These compositions are being developed as potential treatments for a broad spectrum of neurological conditions, including dementia, Parkinson's disease, and traumatic brain injury, as well as mental health disorders such as depression, anxiety, and post-traumatic stress disorder.
Notably, the deal includes DiagnaMed's research assets in amyotrophic lateral sclerosis (ALS) and an FDA-granted Orphan Drug Designation for molecular hydrogen in ALS treatment, representing a significant regulatory milestone for the program.
Focus on ALS Treatment
ALS presents a critical unmet medical need, affecting approximately 50,000 individuals across the United States and Europe. The progressive neuromuscular disease, which attacks nerve cells controlling voluntary muscle movement, typically results in a life expectancy of just two to six years post-diagnosis. With over 5,000 new cases diagnosed annually and limited treatment options available, the development of novel therapeutic approaches is crucial.
Michael Frank, CEO of Revive, emphasized the company's commitment to advancing the program: "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."
Scientific Promise of Molecular Hydrogen
Molecular hydrogen has emerged as a promising therapeutic candidate due to its antioxidant and anti-inflammatory properties. Preclinical studies have demonstrated its potential to mitigate oxidative stress and inflammation—key pathological mechanisms in ALS progression. The molecule's small size and unique properties make it an intriguing candidate for neurological applications.
Transaction Timeline and Financing
The acquisition is expected to close by March 31, 2025, subject to due diligence completion and definitive agreement execution. In parallel, Revive has secured a $65,000 loan from a private lender to support working capital needs, featuring an 8% annual interest rate and February 19, 2026 maturity date.
The company plans to collaborate with leading ALS researchers, patient advocacy groups, and regulatory experts to expedite the development pathway. This strategic acquisition aligns with Revive's focus on leveraging FDA regulatory incentives, including Emergency Use Authorization, Orphan Drug, Fast Track, and Breakthrough Therapy designations.
