VANCOUVER, April 4, 2018 /PRNewswire/ - Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") is pleased to provide a corporate update on the advancements of its industry leading bio-cannabis product pipeline. As previously announced, a 1% CBD Oral Micelle Solution developed in Germany is ready-to-market and development of two topical creams using the Company's patented formulation and delivery systems is now complete.
In light of this development, the Company is anticipating that it will have several products available for sale in Canada on the date legalization officially begins. Pivot also projects to begin sales in California as of Q3 2018, including the launch of its proprietary line of "Ready-to-Infuse-Cannabis" ("RTIC") natural health products. The sale of bulk powder, stick packs and capsules is expected to drive significant revenue.
The patents secured to date provide a significant opportunity for Pivot to create proprietary products that are unmatched in quality by current licensed producers and product distributors. The Company's Intellectual Property portfolio covers several key patent areas which have previously demonstrated their ability to deliver pharmaceutical grade products in clinical trials. Pivot will now manufacture and commercialize its pipeline in anticipation of the legalization of cannabis in Canada as well as internationally, where regulations permit.
Pivot's differentiated business model has entailed acquiring disruptive drug formulation and delivery technologies and then to develop dosable and reproducible bio-cannabis products for consumers. Pivot's patent protected products will enable the Company to secure sales free from competitors claiming similar activities. According to the World Intellectual Property Organization (WIPO) pursuing a patent strategy allows Pivot to have:
- Exclusive rights
- Strong market position
- Higher returns on investment
- Opportunities to license or sell Inventions
- Have a strong negotiation position with companies that may infringe
Dr. Joseph Borovsky, Pivot's Vice President, Formulations, indicates that "our development team in Israel has now completed key development milestones with our nanoparticulate transdermal technology product as well as with our BiPhasix topical product. These two lead product candidates will complete final testing and we will announce our scale-up and marketing strategy in the coming months."
"Canadian Licensed Producers have invested extensively in dried flower and oil production capacity but have not focused on downstream sustainable quality products made from cannabis. Consumers deserve and will demand products that work, whereas regulatory authorities will require high quality, reproducible and safe products. Pivot has positioned itself to be the market leader of bio-cannabis products," said Dr. Patrick Frankham, Pivot's CEO.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot's wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. ("PGS" or "Pivot Green Stream"), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. PGS has acquired worldwide rights to "RTIC" Ready-To-Infuse Cannabis powder to oil technology, BiPhasix™ Transdermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. PGS' initial product development candidates will include topical treatments for women's sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. For more information please visit www.PivotPharma.com
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as anticipate, project, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc. or Pivot Green Stream Health Solutions Inc., or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors, such as the failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, the competitive environment within the industry, the ability of Pivot to continue to expand its operations, the level of costs incurred in connection with Pivot's expansion efforts, economic conditions in the industry, and the financial strength of Pivot's customers and suppliers. Pivot does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.
SOURCE Pivot Pharmaceuticals Inc.