WOODBRIDGE, ON, April 15, 2015 /CNW/ - Pivotal Therapeutics Inc. (OTCQX:PVTTF; CSE:PVO), ("Pivotal" or the "Company"), a specialty pharmaceutical company with a focus on Omega-3 therapies for cardiovascular disease and overall health, announced today that it has entered into a Memorandum of Understanding with Korea Animal Medical Science Institute (KAMSI) and its newly created affiliate for the exclusive sales and distribution of the BeneFishial™ family of products. The BeneFishial™ family of products consists of the following six products: (i) BeneFishial™ for overall health and well being, (ii) BeneFishial™ for cardiovascular health, (iii) BeneFishial™ for prenatal health, (iv) BeneFishial™ for toddler's health, (v) BeneFishial™ for child's health and (vi) BeneFishial™ for pet's health (veterinary application).
The distribution agreement focuses on Pivotal's BeneFishial™ line of products for the nutraceutical and veterinary markets in Korea and the veterinary market in Japan. The agreement also provides for an upfront payment and guaranteed minimum annual sales targets to be achieved.
"Pivotal is an attractive partner offering a large spectrum of patented formulations each delivering convincing health benefits to multiple user groups in Korea and Japan," said Mr. Cheolseung Peck, CEO of KAMSI's affiliate.
"We are delighted to partner with Korea's leading pre-clinical and regulatory contract research organization that will lead the way for Pivotal into this highly professional and competitive market place. Their unique experience in registering complex products including safety and reimbursement together with their proven international and U.S. experienced executive team provides a unique basis for a sustainably successful launch of our products in these important Asian markets that are Korea and Japan," said Mr. Eugene Bortoluzzi, Pivotal's CEO and CFO.
BeneFishial™ was created as the cornerstone of our new nutraceutical product line, which will include prenatal, children, heart and animal health orientated products. BeneFishial™ is designed to be sold as a nutraceutical in the OTC direct to retail or direct to consumer markets in both the U.S. and in Canada. BeneFishial™ contains the highest content of Omega-3 fatty acids of any other OTC product on the market. It is specifically formulated to give the highest purity, highest anti-inflammatory properties and the best therapeutic effect for a healthy body and mind. It contains the optimal purity, ratio and dose of Omega-3 and is a simple solution to a number of health risk factors.
About Pivotal Therapeutics Inc.
Pivotal Therapeutics is a publicly traded (OTCQX:PVTTF; CSE: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. OMAZEN® is a pharmaceutical grade Omega-3 providing over 90% pure Omega-3 in each capsule for the maintenance of good health. OMAZEN® is a patented product available for sale and distribution in Canada. BeneFishial™ is the first product in Pivotal's new nutraceutical product line, which has been specifically designed to be sold in the OTC direct to retail or direct to consumer markets.
KAMSI, founded in 2012, is a privately owned, science and technology driven, fully integrated and globally active Korean pre- and non-clinical contract research organization. Its focus lies on the development and application of an extensive range of disease area specific proprietary platform technologies used in combination with in-house pharmacokinetic, toxicological and pathological expertise made available to the pharmaceutical and biotechnology industries and tailored to Korean and international regulatory requirements.
The information contained in this document is as April 15, 2015. 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 CSE 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. The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this information.
SOURCE Pivotal Therapeutics Inc.
For further information: Company Contacts: Kristine DiMatteo, Communications and Public Relations Manager, Phone: 905-856-9797 ext. 231, E-Mail: [email protected]