Revive Therapeutics buys DiagnaMed’s molecular hydrogen intellectual property

Revive Therapeutics Ltd. (OTCQB: RVVTF) (CSE: RVV) announced it is buying DiagnaMed Holdings Corp.’s (CSE: DMED) (OTCQB: DGNMF) intellectual property on molecular hydrogen as potential treatments for neurological and mental health disorders. Revive told investors it entered into a non-binding letter of intent dated February 28, 2025 and is expected to close by the end of March.

The deal includes a provisional patent application with the U.S. Patent and Trademark Office outlining pharmaceutical-based methods and compositions for producing molecular hydrogen as potential treatments for neurological and mental health disorders. The patent application, entitled “Methods and Compositions for Producing Hydrogen for Treating Diseases and Disorders Affecting Brain Health,” outlines novel combinations of certain pharmaceutical-grade hydrogen-producing ingredients as a potential therapeutic option for a variety of neurological disorders such as, but not limited to, Dementia, Parkinson’s disease, and Traumatic brain injury, and mental health disorders including, Depression, Anxiety, and Post-traumatic stress disorder.

In addition to the patent, Revive also gets the intellectual and work property derived from DiagnaMed’s research activities in amyotrophic lateral sclerosis (ALS) and its Orphan Drug Designation (ODD) for molecular hydrogen in the treatment of ALS by the U.S. Food and Drug Administration (FDA).

“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,” said Revive CEO Michael Frank. “We are committed to collaborating with leading ALS researchers, patient advocacy groups, and regulatory experts to ensure a rigorous and expedited path toward potential approval.”

Molecular hydrogen

Revive told investors that molecular hydrogen is a small molecule with antioxidant and anti-inflammatory properties. It has shown early promise in preclinical studies for its ability to mitigate oxidative stress and inflammation—key factors implicated in ALS progression. The FDA’s decision will allow for Revive to accelerate its development programs with molecular hydrogen.

The company is also exploring the use of bucillamine for the potential treatment of nerve agent exposure and long-term COVID. Revive is also advancing the development of psilocybin-based therapeutics through various programs.

Earnings

Last week Revive reported that it has not earned any revenue and has an accumulated deficit of C$67,023,519 as of December 31, 2024. As of December 31, 2024, the company had cash and cash equivalents of C$55,415 and a working capital deficiency of C$3,035,401. The company said its ability to continue as a going concern depends on its ability to obtain additional financing and or achieve profitable operations in the future.