WOODBRIDGE, ON, Oct. 30, 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 John P. Nicholson Jr., MD, MBA, FACC has been appointed to the Company's Board of Directors.
Dr. Nicholson is a Cardiologist and Clinical Associate Professor of Medicine at Cornell University. He is currently the Medical Director of the Cardiac Health Center, cardiac rehabilitation program at New York Hospital - Queens. Dr. Nicholson has over thirty years of experience as a healthcare and life sciences investor, analyst and portfolio manager. He was the founder and Portfolio Manager of Sands Point Partners. Dr. Nicholson's previous roles on Wall Street include healthcare Portfolio Manager at Steinhardt Partners, consultant at Tiger Management, and Director of Healthcare Investment Banking at the Bank Street Group. Dr. Nicholson is also the Chairman of privately held Tivorsan Pharmaceuticals and the Director of Research at Crossover Healthcare Fund.
"We are pleased to welcome Dr. Nicholson to the Board of Directors of Pivotal Therapeutics. Dr. Nicholson's medical and investment expertise make him an exceptional addition to the Board at this stage of the Company's development. We look forward to his input as a leading edge Cardiologist as we continue to study the clinical effects of VASCAZEN® in cardiac rehabilitation, obesity, metabolic syndrome and heart failure" said Dr. George Jackowski, Co-founder and Chairman of Pivotal's Board of Directors. "Dr. Nicholson is a recognized leader in clinical medicine and this combined with his extensive investment experience and unique perspective is why we believe Dr. Nicholson will make a significant contribution to the Board as we explore various strategic initiatives with VASCAZEN® and enter into our next stage of growth as a company" said Dr. George Jackowski.
"As a Cardiologist we see numerous drugs that aim to treat cardiovascular diseases and symptoms of underlying cardiovascular disease. I am excited that a company is exploring Omega-3 deficiency, its affects and addressing Omega-3 deficiency in a novel way, through utilization of a Medical Food that corrects the underlying deficiency itself. Pivotal's approach is interesting and innovative and I look forward to serving on its Board of Directors," said Dr. Nicholson.
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.
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.
The information contained in this document is as of October 30, 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.
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