Strategic Partnership Includes Distribution and Product Development Agreements
VANCOUVER, Dec. 20, 2018 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") is pleased to announce that the Company has signed a Definitive Agreement ("the Agreement") with PURE Holding AG ("PURE") to supply Pivot with up to 3,000 kg annually of CBD isolate. PURE is a Swiss-based company that cultivates cannabis and produces high-quality CBD products and isolates. PURE and its five wholly-owned subsidiaries control their complete cannabis supply-chain from breeding varieties to distribution.
Supply: PURE will supply Pivot up to 3,000 kg annually of pharmaceutical grade CBD isolate for use in Pivot's industry leading pipeline of bio-cannabis products;
Co-Marketing & Distribution: Pivot and PURE will market and distribute each other's product lines in their respective territories; PURE's currently available products include tinctures, creams, candies and teas;
Research & Development: Pivot and PURE will collaborate on the development of new pharmacological products using tailored genetic varieties;
Pivot's market assessment shows that the Company will require approximately 3,000 kg of pharmaceutical grade CBD isolate in 2019 to fulfill projected orders in Canada, Mexico and the EU. Initial products will include capsules, tablets, creams, gels, liquid shots and oral solutions, all formulated using Pivot's patented drug delivery technologies. Consumers will be able to purchase products that are bioavailable, stable, dosable and accurate.
Mr. Stevens Senn, CEO of PURE Holdings AG stated, "The synergies between PURE and Pivot were clear from our first meeting. Pivot's products are unmatched in the industry and we look forward to developing and commercializing new products using PURE's high grade CBD oils and isolates. We will also focus on developing new cannabis varieties that will result in customized CBD or THC crystals that Pivot will formulate into differentiated products for their global customers."
Dr. Patrick Frankham, CEO of Pivot commented, "We are thrilled to form a strategic partnership with PURE Holding AG. Stevens and his team at PURE have put together one of the most impressive vertically-integrated cannabis companies that we have come across. Their belief in finding science-based solutions for consumers is refreshing. Pivot's line of premium bio-cannabis products will contain the highest quality CBD isolates. The purity is exceptional. Pivot's scientific team looks forward to collaborating with PURE to continue to develop products containing CBD from strains that will be specifically engineered to serve the needs of the health and wellness market. With this Agreement, Pivot has secured significant access to supply and expanded distribution in the EU, resulting in accelerated speed to market of our products."
About PURE Holding AG
PURE Holding AG is the largest Swiss-based CBD-producer, having five wholly-owned subsidiaries covering all business fields in cannabis from variety breeding and protection, over production all the way to sales. PURE Cannabis Research AG is at the forefront of cannabis breeding. Its state-of-the-art breeding program allows the creation of new proprietary varieties at unmatched speed and precision thanks to the collaborations with the prestigious university ETH Zürich, NRGene, and several other academic and research partners worldwide. At a later stage, Pure Cannabis Research will include medicinal research in its activities. Pure Production Inc. is based in Zeiningen, Switzerland. It produces CBD in three different divisions; indoor, greenhouse and outdoor, with more than 50'000 square meters of grow space. Its scientific in-house laboratories have developed all proprietary processes to produce oils, extracts and isolates. The products are all analyzed in-house and the results are double-checked externally. DEOM Inc. is the second production site of Pure Holding Inc. It is the largest and most modern CBD indoor hall in Europe located in Fischbach-Göslikon, Switzerland. It produces over 7 Tons of high quality indoor CBD annually on a platform bigger than 5'000 square meters. The planned and implemented structuring of this hall enables and guarantees pharma-grade production. Pure Europe Sarl is based in Luxembourg and Germany, which are two strategically located EU sales channels. For more information please visit pureeurope.eu
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 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, PURE Holding AG, 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]; Pure Holding AG, Stevens Senn, Chief Executive Officer, Email: [email protected]; Virtus Advisory Group, Shareholder Inquiries, Email: [email protected], Phone: 416-644-5081