Pivot Signs Exclusive Manufacturing Agreement with US-based Contract Manufacturer
28 Mar, 2019, 04:20 ET
Hemp-derived CBD Capsules, Tablets, Topical Creams and Roll-on Gels to Enter US Market
VANCOUVER, March 28, 2019 /CNW/ - Pivot Pharmaceuticals Inc. (CSE: PVOT) (OTCQB: PVOTF) ("Pivot" or the "Company") is pleased to announce that it has signed an exclusive Contract Manufacturing Agreement with Vermont-based Bio V America Inc. ("BiovUS") to manufacture, label, package and supply Pivot's line of hemp-derived CBD products to be sold in the United States, where regulations permit.
With this Agreement, Pivot will immediately commence production of its patented and differentiated cannabis formulations using pharmaceutical grade hemp-derived CBD. Initial products ready to be marketed include two-piece vegan capsules, coated tablets, topical creams, roll-on gels, powder stick packs, and infused beverages. All of Pivot's products will be marketed under the "Pivot Naturals" brand.
Cannabidiol (CBD), which is derived from the hemp plant, is a close relative to another member of the cannabis family, marijuana. Both plants contain abundant types of cannabinoids, but marijuana is high in the psychoactive chemical THC, while hemp is rich in CBD, the non-psychoactive component of cannabis that shows potential medicinal benefits. Pivot's product catalogue now includes derivatives formulated with CBD, CBD:THC, THC, (all sourced from marijuana) or hemp-derived CBD.
"Our sales and marketing team is working diligently to detail our new hemp-derived CBD product line to national pharmacy and grocery store chains, and health and nutrition distributors in the U.S. There remains a large unmet need for stable, bioavailable and effective bio-cannabis products that consumers demand for alternative care options. Adding another U.S.-based manufacturing site is an important inflection point for Pivot. In addition to our manufacturing capabilities in California and Vermont, we await Health Canada's approval of our pending Standard Processor license for our facility in Montreal. Pivot is well-positioned to launch multiple products, nationally and internationally," stated Pivot's CEO, Dr. Patrick Frankham.
About Bio V Pharma Inc.
Bio V America Inc. is a U.S.-based importer and distributor of nutraceutical products including vitamins, botanical products and food supplements. With over 40 years of experience in Product Development and Manufacturing, Bio V America currently services North America and Europe. Bio V America is internationally recognized for quality and service. For more information please visit www.biov.us
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is a science-based consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of a Standard Processor license (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-sq. ft. cGMP facility located in Montreal, Quebec. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, was granted a Temporary Manufacturing Type N: Infusion License by the California Department of Public Health in November 2018. Pivot's product line includes infused beverages, vegan capsules, dissolvable tablets, topical creams and gels, intimate lubricants, roll-on pain relievers, stick packs, and bulk powder for the edibles market. 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., Bio V America Ltd., 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
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