Patented Topical Gels, Creams and Beverages to be Manufactured for California Market
VANCOUVER, Jan. 28, 2019 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") is pleased to announce that the Company has entered into a strategic Contract Manufacturing Agreement ("the Agreement") with Growpacker Inc. ("Growpacker") to produce Pivot's differentiated and patented topical gels, creams and beverages for the California cannabis market. Growpacker is a fully-licensed cannabis co-packing and bottling company that operates to GMP standards in California, now the world's fifth largest economy and America's largest consumer market. This Agreement will enable Pivot to launch its patented line of bio-cannabis products immediately and cost effectively while complementing Pivot's existing production capacity at its licensed facility in Costa Mesa, California.
- Speed to Market: Pivot's patented line of bio-cannabis creams, gels and beverages will be manufactured by Growpacker and launched in California in Q2 2019;
- Second Manufacturing Facility: Growpacker will add additional large-scale capacity to Pivot's existing licensed facility located in Costa Mesa, California;
- Health & Wellness Beverages: Growpacker will manufacture Pivot's health and wellness beverages using its patented oil-to-powder technology that renders CBD and/or THC isolate to become water soluble, completely clear, tasteless and odorless in the finished product;
- Topical Gels and Creams: Growpacker will manufacture Pivot's topical and transdermal drug delivery gels and creams that are highly bioavailable and penetrate the skin;
Located in Desert Hot Springs, California, Growpacker's core competencies include product development, manufacturing, and distribution of cannabis products. In addition, Growpacker can pack beverages (both carbonated and non-carbonated, fully pasteurized, and shelf stable), dry goods, packaged flower & pre-rolls, and health & wellness products.
Mr. Stephen Boyd, CEO of Growpacker stated, "We are very excited to work with the Pivot Pharma team. Our facility is perfectly suited to help bring Pivot's line of topical gels, creams, and beverages to market. Their patented technologies and formulations will fill a massive void in the cannabis market and we look forward to expanding our relationship in the months ahead."
Dr. Patrick Frankham, CEO of Pivot commented, "Stephen has built a world class facility and attracted high caliber clients and development partners. We believe that Growpacker has the ideal setting to manufacture our topical gels, creams and beverages. In addition, our Costa Mesa facility will produce capsules, tablets, stick packs, and bulk powder. Quietly and efficiently we have built a company that has acquired industry leading intellectual property, formulated stable and bio-available pharma-grade products, signed global consumer and pharmaceutical product distribution partners, secured supply of high grade isolates, and secured cGMP manufacturing facilities in Canada. We have positioned Pivot as a lean, global player in the cannabis market and will launch multiple products across many health and wellness areas and compete with large scale cannabis companies with our superior products."
About Growpacker Inc.
Growpacker Inc. is a Canadian-based company, which through its American interest in GP Holdings LLC, is engaged in expanding the ancillary side of the California cannabis industry. The company offers local and international brands key services, such as formulation, manufacturing, co-packing, and distribution for THC & CBD infused products. For more information please visit growpacker.com
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 for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. For more information please visit pivotpharma.com
Cautionary Note Regarding Forward-Looking Statements:
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, Growpacker Inc., its subsidiaries, 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