VANCOUVER, British Columbia, Feb. 01, 2018 (GLOBE NEWSWIRE) — Pivot Pharmaceuticals Inc. (CSE:PVOT) (OTCQB:PVOTF) (“Pivot” or the “Company”), is pleased to announce that it has filed three provisional patents with the United States Patent and Trademark Office (“USPTO”) related to the delivery of cannabinoid-based products. The applications cover the following areas:
- Transdermal nanotechnology delivery system of cannabis using patches and creams;
- Mucus topical cannabis delivery system through buccal, nasal, vaginal and anal areas of entry using a gel, suppository or mouthwash;
- Inhalation delivery system of cannabis for topical or systemic.
Pivot continues to build a world-class Intellectual Property (“IP”) portfolio of pharmaceutical-grade formulations as the Company prepares to commercialize an industry leading pipeline of cannabinoid-based consumer healthcare products. In addition to the latest filing of provisional patents described above, Pivot has previously secured worldwide rights to topical, oral, transdermal and food and beverage patented technologies. Pivot’s scientific advisors, Dr. Leonid Lurya and Dr. Joseph Borovsky, are the patent inventors and will facilitate the scale-up of products from these technologies.
Dr. Patrick Frankham, Pivot’s CEO states “Pivot’s key competitive advantages include cannabis formulation and delivery technologies, scientific and regulatory expertise, product sales and distribution experience, and our ability to work with best-in-class global partners. The patent filings announced today demonstrate that our research and development program continues to generate valuable IP for our robust pipeline of health and wellness products. We continue to create shareholder value by building a sustainable, long-term company that is well positioned in the fast-changing cannabis industry.”
The international market for cannabis is projected to hit $31.4 billion by 2021, according to a new report from the Brightfield Group, a cannabis market research firm. Currently, the global market is estimated to be worth $7.7 billion and will see a compound annual growth rate of 60 percent as other countries liberalize their marijuana laws.
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. 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. For more information please visit www.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 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. As a result of the foregoing, actual results could differ materially from those contemplated by the forward-looking statements as a result of the foregoing factors and certain other factors, such as the failure to meet the conditions imposed by the regulators, 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.
Contact: Pivot Pharmaceuticals Inc. Patrick Frankham, PhD, MBA Chief Executive Officer Tel: (514) 943-1899 Email: Info@PivotPharma.com