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VANCOUVER, BC -- (Marketwired) -- 11/09/17 -- Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) ("Pivot" or the "Company") is pleased to announce the signing of a Binding Letter of Intent with Thrudermic, LLC, a privately held North Carolina company, to acquire worldwide rights to Thrudermic's Transdermal Nanotechnology for the development and commercialization of topical cannabinoids. In addition, Dr. Joseph Borovsky and Dr. Leonid Lurya, Thrudermic's Chief Executive Officer and Chief Technology Officer, respectively, have been appointed to Pivot's Scientific Advisory Board.
Thrudermic drug delivery technology was developed and tested in collaboration with a multi-national pharmaceutical company. The technology is suitable for human delivery and provides the ability to specifically formulate individual drugs to control and prolong drug release while maintaining steady therapeutic concentrations. The use of lipid-based nano dispersion with topical cannabinoids allows for considerably higher concentrations of a drug in Pivot's planned formulations compared to other available technologies. Notably, Thrudermic can handle water soluble and water insoluble drugs, while causing no change to the skin morphology or sensitivity to the digestive system.
"Thrudermic is very excited to collaborate with Pivot to develop transdermal products containing cannabinoid extracts by using our lipid-based nano dispersion technology. By increasing bioavailability, drug release rates and stability, patients should be able to confidently take correct and accurate doses to help with their therapeutic needs," states Thrudermic CEO Dr. Joseph Borovsky.
Dr. Borovsky, formerly the director of R&D for Mead Corporation, received his Bachelor of Science degree in Chemistry from UCLA and his Ph.D. in Physical Organic Chemistry from the University of Massachusetts at Amherst. He also completed a year of post-doctoral research in Medicinal Chemistry at Washington State University College of Pharmacy and was a Research Fellow in Synthetic Organic Chemistry at Harvard University. Dr. Lurya is the inventor of Thrudermic transdermal technology and has authored several patents. He received his MD from the Moscow Medical Institute No. 2, Russia, and then completed his PhD in Biophysics, Chemical Physics Department at the Weizmann Institute of Science, Israel.
Dr. Patrick Frankham, Pivot's CEO, comments, "Thrudermic is Pivot's third innovative drug delivery technology and we are thrilled that Dr. Borovsky and Dr. Lurya have agreed to collaborate with us to develop and commercialize therapeutic pharmaceuticals and nutraceuticals to meet the growing demand for cannabinoid based products. Pivot is well positioned to demonstrate the value of these as therapeutics. Currently the marketplace is inundated with sub-par products developed using inert oils and in vehicles that don't deliver meaningful dosing. To date, smoking is the main choice for route of administration since there are no good formulations available."
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is an emerging 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. PGS has acquired worldwide rights to BiPhasix Transdermal Drug Delivery platform technology (topical); Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. PGS' initial product development candidates will include topical treatments for women's sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. PGS will seek to register these as Natural Health Products (NHP) for consumers. Products following the NHP pathway have shorter development cycles and can generate revenue faster than traditional pharmaceuticals. For more information please visit www.PivotPharma.com
Cautionary Statement 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, ACI Foods, or Pivot Green Stream, 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 level of business and consumer spending, the amount of sales of Pivot's products, 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.Pivot Pharmaceuticals Inc. Patrick Frankham, PhD, MBA Chief Executive Officer Tel: (514) 943-1899 Email: NetworkNewsWire (NNW) New York, New York 212.418.1217 Office NEXT ARTICLE
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