VANCOUVER, Sept. 7, 2018 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT) (OTCQB: PVOTF) (FRA: NPAT) ("Pivot" or the "Company") is pleased to announce that Dr. Joseph Borovsky has been appointed as Chairman of the Board of Directors of Pivot Pharmaceuticals. Dr. Ahmad Doroudian has decided that the timing to hand over the Chairman's responsibilities is ideal as Pivot prepares to commercialize its suite of products.
Dr. Borovsky is an experienced executive with broad-based success in leading major pharmaceutical research and development and innovative technology startups, P & L operations, sales, and marketing. Formerly the Director of R & D for The Mead Corporation, Dr. Borovsky received his Bachelor of Science degree in Chemistry from the University of California at Los Angeles, and his Ph.D. in Physical Organic Chemistry from the University of Massachusetts at Amherst. He also completed a year of post-doctoral research in Medicinal Chemistry at Washington State University College of Pharmacy, and was a Research Fellow in Synthetic Organic Chemistry at Harvard University in Cambridge, Massachusetts. Dr. Borovsky, will also continue in his role as Executive Vice-President, Product Development, and oversee the scientific development and monetization of the Company's technologies.
"I am very proud of Pivot's impressive progress over the last year and strongly believe that Dr. Borovsky is the right person to help direct the Company's strategy at this important juncture," said Dr. Doroudian. "With expected near-term revenue from Canada, California, Nevada and the EU, an industry leading product pipeline, and an experienced management team that continues to aggressively execute on its business plan, I have no doubt that Pivot is well positioned to become one of the industry's leading bio-cannabis products companies."
"On behalf of Pivot's shareholders, I wish to express our sincere gratitude to Ahmad for his many years of service and for the contributions that he made to the Company while serving as CEO, Director and most recently as Executive Chairman. Dr. Doroudian will remain as an advisor and a significant shareholder of Pivot," said Dr. Patrick Frankham, CEO of Pivot Pharmaceuticals. "The invaluable insights he provided Pivot in its early stages have resulted in the creation of the largest portfolio of cannabis derivatives that will be launched in international markets and compete for revenue with the established Licensed Producers from Canada."
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. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired "RTIC" Ready-To-Infuse Cannabis oil-to-powder technology and Thrudermic Transdermal Nanotechnology (transdermal); acquired worldwide rights to BiPhasix™ Dermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral), and Solumer™ Oral Drug Delivery technology; and an option to acquire worldwide rights to TriVair™ Nasal and Pulmonary Breath-Propelled Drug Delivery Systems™ for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. 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, believe, estimate, expect, intend, and similar expressions, as they relate to Pivot Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, 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, statements with respect to internal expectations, 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.
For further information: Pivot Pharmaceuticals Inc, Patrick Frankham, PhD, MBA, Chief Executive Officer, Email: [email protected]; Virtus Advisory Group, Shareholder Inquiries, Email: [email protected], Phone: 416-644-5081