07:13 AM EDT, 08/12/2025 (MT Newswires) -- Revive Therapeutics ( RVVTF ) on Tuesday signed a letter of intent to form a joint venture with Saudi-based biotech company NanoPalm to co-develop novel small-molecule oncology therapeutics.

The joint venture will combine Rakovina's AI-enabled drug discovery engine, with NanoPalm's lipid nanoparticle delivery system.

The initial development candidate under the proposed joint venture, kt-3283, is a small-molecule inhibitor that simultaneously targets two cancer survival pathways. The compound has shown particularly strong activity in Ewing sarcoma, breast, and ovarian cancer models, a statement said.

Once finalized, the joint venture will initially focus on advancing kt-3283 through late preclinical development and early clinical studies while evaluating additional AI-derived drug candidates for inclusion in the development pipeline.

"This collaboration brings together complementary expertise in drug discovery and delivery technologies," said Jeffrey Bacha, Rakovina executive chair. "kt-3283 represents the first of what we believe could be multiple novel therapeutics that emerge from this alliance, offering a robust pipeline for development and future commercialization."