WOODBRIDGE, ON, Nov. 1, 2013 /CNW/ - Pivotal Therapeutics Inc. (OTCQX: PVTTF) (CNSX: PVO), a specialty pharmaceutical company with a focus on Omega-3 therapies
for cardiovascular disease (CVD) and overall health, announced today
that it has extended the closing date of the previously announced
(October 2, 2013 and October 7, 2013) debt financing to November 30th, 2013.
"The financing is progressing well and to date we have received CDN
$1.65 Million of the $5.0 Million Debt Financing, led by Crossover
Healthcare Fund LLC," stated Mrs. Rachelle Mac Sweeney Co-founder,
President and Chief Operating Officer.
For more information please refer to the Company Form 9 Filings on the
CNSX website (www.cnsx.ca) for detailed updates with regards to the financing.
About Pivotal Therapeutics Inc.
Pivotal Therapeutics is a publicly traded (OTCQX: PVTTF) (CNSX: PVO)
specialty pharmaceutical company with a focus on cardiovascular disease
and overall health. Pivotal Therapeutics' lead product VASCAZEN® is a prescription only Medical Food formulated to meet the dietary
Omega-3 deficient needs of patients with cardiovascular disease through
elevating Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) to
levels associated with reduced risk of cardiovascular complications. OMAZENTM is a pharmaceutical grade Omega-3 providing over 90% pure Omega-3 in
each capsule for the maintenance of good health. OMAZENTM is a patented product available for sale and distribution in Canada.
VASCAZEN® is currently available in the U.S. as a prescription only Medical Food
specifically formulated for the dietary management of an Omega-3
deficiency in cardiovascular patients. VASCAZEN® is a >90% pure Omega-3 with a proprietary 6:1 EPA:DHA fatty acid
formulation, protected by a series of both U.S. and foreign patents.
VASCAZEN® has been clinically shown to correct an Omega-3 deficiency within eight
weeks of treatment with positive concomitant effects on the lipid
profiles, mainly a 48% reduction of triglycerides and an increase of
HDL without negative impact on the LDL-C lipid profile. VASCAZEN®'s results were achieved with a dose of 3 grams of EPA and DHA per day
of a prescription grade, high purity Omega-3.
The information contained in this document is as of November 1, 2013.
This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause Pivotal's actual results
to differ materially from those projected in such forward-looking
statements. These statements can be identified by the use of words such
as "will", "anticipate", "estimate", "expect", "project", "forecast",
"intend", "plan", "believe", "project", "potential", and similar
expressions with any discussion of future operating or financial
performance or events. In particular, factors that could cause actual
results to differ materially from those in forward looking statements
include the following: Pivotal's inability to obtain additional
financing on acceptable terms; growth in costs and expenses; inability
to compete with others who provide comparable products; risk that the
Company's products will not gain widespread market acceptance; risks
relating to the Company's ability to maintain its CSNX listing.
Forward-looking statements speak only as of the date made and are not
guarantees of future performance. The Company undertakes no obligation
to publicly update or revise any forward-looking statements contained
in this document as a result of new information or future events or
developments. CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this information.
SOURCE: Pivotal Therapeutics Inc.
For further information:
President and Chief Operating Officer
Communications and Public Relations Manager
Phone: 905-856-9797 ext. 231