SUNNYVALE, Calif.--(BUSINESS WIRE)--Reviva Pharmaceuticals, Inc. (Reviva), a clinical stage pharmaceutical company, announced today that it has been selected as a winner of the 2018 Red Herring Top 100 North America award, which recognizes the continent’s most exciting and innovative private technology companies.
"We are deeply honored to be chosen as a winner of the 2018 Red Herring Top 100 North America award," said Laxminarayan Bhat, PhD, Founder, President and Chief Executive Officer of Reviva. "We are proud that our hard work and commitment for the development of innovative medicines for the treatment of patients with unmet medical needs have been recognized through this award.”
The winners, celebrated at a special awards ceremony at the Marina Del Rey Hotel, have been chosen from thousands of entrants, whittled down to hundreds making the trip to California. The ceremony, led by Red Herring chairman Alex Vieux, was preceded by two days of keynote speeches, discussions and finalist presentations.
Companies were judged by industry experts, insiders and journalists on a wide variety of criteria including financial performance, innovation, business strategy, and market penetration. Winners ran the gamut of verticals, from fintech and marketing to security, IoT and many more.
Red Herring’s editors have been evaluating the world’s startups and tech companies for over two decades. It gives them the ability to see through the industry’s hype, to pick firms that will continue on a trajectory to success. Brands such as Alibaba, Google, Kakao, Skype, Spotify, Twitter and YouTube have all been singled out in Red Herring’s storied history.
"If RP5063 reaches its goals, confirmed with the unique patent portfolio built by the company, it will likely manage to solve a varied illness related to pulmonary diseases. What is more exciting for human kind holds to the fact that the intellectual property, based on genetic research, has also enabled to engage in solving some major problems such as dementia, or schizophrenia. Thus Reviva Pharmaceuticals and its team deserve a special role among the Red Herring 2018 Top 100 Awardees," said Alex Vieux, Chairman, Red Herring.
RP5063, is a new chemical entity (NCE) with a novel mechanism of multimodal modulation of serotonin and dopamine signaling pathways. Whilst dysfunctional serotonin (5-HT) signaling in the brain contributes to the pathophysiology of neuropsychiatric and neurological diseases, in the lung it leads to pulmonary fibrosis (PF) and pulmonary arterial hypertension (PAH). RP5063, is a potent inhibitor of the 5-HT2A/2B/7 receptors and, consequently, attenuates the functional changes in a series of well recognized, state-of-the-art, translational animal models proven to emulate PF and PAH conditions in humans. Reviva is planning to initiate phase 2 clinical trials for PAH and IPF diseases.
Reviva has already successfully completed a multicenter, multinational phase 2 clinical study for RP5063 in patients with schizophrenia and schizoaffective disorders where it demonstrated robust efficacy with remission in acute schizophrenia and promising efficacy for comorbid negative, cognition, depression and mood symptoms. Moreover, RP5063 showed an excellent safety and tolerability profile compared to placebo with no weight gain, metabolic, cardiac or movement side effects, which resulted in good acceptance and compliance. Reviva is planning to initiate phase 3 clinical trials in patients with schizophrenia. Data from preclinical and clinical studies with RP5063 are currently available in several published research articles in peer reviewed journals (http://revivapharma.com/publications/).
About Reviva Pharmaceuticals
Reviva Pharmaceuticals Inc. (Reviva), is located in Sunnyvale, California and is a clinical stage pharmaceutical company focused on developing a portfolio of internally discovered next generation therapies that address unmet medical needs in the therapeutic areas of the central nervous system (CNS), cardiovascular and inflammatory diseases. Reviva has a strong patent portfolio and several products in the pipeline at various stages of development.
Reviva’s leadership team has a proven background and a track record in successful product development, regulatory approval and commercialization. For additional information, please visit our website at www.revivapharma.com.
Forward Looking Statements
This press release contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current knowledge, assumptions, judgment and expectations regarding future performance or events, they give no assurance that such expectations will prove to be correct. Forward-looking statements are subject to a number of risks and uncertainties, but not limited to, our liability to obtain additional capital on acceptable terms, or at all, including additional capital which will be necessary to complete the clinical trials, the availability of top-line-data-delays in enrollment, delays caused by institutional review boards or regulatory agencies, shortage of clinical trial supplies, dependence on clinical trial collaborators, loss of any executive officers or key personnel or consultants. Undue reliance should be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, Reviva disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.