Pivotal provides update on corporate matters

WOODBRIDGE, ON, Oct. 29, 2012 /CNW/ - Pivotal Therapeutics Inc. (OTCQX: PVTTF) (CNSX: PVO), provided an update on corporate matters.

Refiling of Interim Q1 and Q2 - 2012 financial statements to more fully comply with IFRS --- On October 29^th, 2012, the Company filed amended Q1 and Q2 - 2012 financial statements to more fully comply with disclosure requirements under IFRS by amending its quarterly statements of equity for both March 31, 2012 and June 30, 2012 to include comparative subtotals as at March 31, 2011 and June 30, 2011. The Company emphasized that the refiled statements and MD&A disclose no change whatsoever in assets, liabilities, equity, or income from that previously filed. Copies of the revised financial statements for the first and second quarter of 2012 are available at www.sedar.com

About Pivotal Therapeutics Inc.
With offices in Toronto, Canada and Boca Raton, Florida, Pivotal Therapeutics is a publicly traded (OTCQX: PVTTF); (CNSX: 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.

VASCAZEN^® is a >90% pure, proprietary EPA:DHA fatty acid formulation, protected by a series of both issued and pending U.S. and foreign patents and commercialized as a prescription only Medical Food in the U.S.  This unique formulation will provide the cornerstone upon which a family of cutting edge combination products, with efficacy across a broad spectrum of cardiac care, will be commercialized.

OMAZEN^TM is a >90% pure, proprietary EPA:DHA fatty acid formulation commercialized for sale and distribution in Canada for the maintenance of good health through elevating Omega-3 fatty acid levels. The unique formulation and dosage will be available to patients and consumers who realize the health benefits of Omega-3 supplementation with a quality product.

Disclosure Notice
The information contained in this document is as of October 29, 2012. 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 CSNX 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. CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this information.

SOURCE: Pivotal Therapeutics Inc.

Company Contacts:

Rachelle MacSweeney
President and Chief Operating Officer
Phone:      [phone]
E-Mail:      [email protected]

Kristine DiMatteo
Communications and Public Relations Manager
Phone:     [phone] ext. 231
E-Mail:     [email protected]

Pivotal Therapeutics Inc.
www.pivotaltherapeutics.us