Pivot Pharmaceuticals, Inc. (OTCQB: PVOTF) (CSE: PVOT) operates as a biopharmaceutical company that develops innovative drug delivery technologies for therapeutic pharmaceuticals and nutraceuticals. The company also maintains a wholly-owned cannabis subsidiary, Pivot Green Stream Health Solutions, Inc. Shares of the biopharmaceutical developer jumped 54.43% during trading on Wednesday, May 30, 2018. Over the past month, Pivot Pharmaceuticals, Inc. has seen average daily volume of 171,576 shares. However, volume of 311,813 shares or dollar volume of $139,598, exchanged hands on the day.
Shares of Pivot Pharmaceuticals, Inc. jumped during Wednesday’s trading after the company announced that it has signed an exclusive manufacturing agreement with Bio V Pharma, Inc., a manufacturer of diverse-range of pharmaceutical and nutraceutical products. Under the terms of the deal, Pivot Pharmaceuticals will be able to utilize Bio V Pharma’s manufacturing, labeling, packaging, and supplying pipeline for its cannabis products. Pivot Pharmaceuticals also announced that it has engaged consulting firm to begin applying to Health Canada for a cannabis Dealer’s License, which will have Bio V Pharma’s Quebec facility attached to the licensing. Here is the full press release detailing of the manufacturing agreement:
Pivot Pharmaceuticals, Inc. Press Release:
VANCOUVER, May 30, 2018 /PRNewswire/ – Pivot Pharmaceuticals Inc. (CSE: PVOT / OTCQB: PVOTF / FRA: NPAT) (“Pivot” or the “Company”) is pleased to announce that it has signed an exclusive Contract Manufacturing Agreement (the “Agreement”) with Bio V Pharma Inc. (“BioV”) to manufacture, label, package and supply Pivot’s bio-cannabis product pipeline. BioV is a Quebec-based full-service manufacturer of pharmaceutical and nutraceutical products including vitamins, botanical products, food and veterinary supplements and specializes in capsules, tablets, liquids and semi-solids delivered in a variety of packaging formats.
The BioV management team has over 40 years of experience in product development and manufacturing and will produce Pivot’s entire bio-cannabis suite of products including BiPhasix™ topical creams and lotions, Thrudermic™ transdermal gels and lotions, Solmic™ 1% CBD oral solution, and “RTIC™” Ready-to-Infuse-Cannabis Powder presented in capsules, single-use sachets and bulk packages.
Pivot has engaged Cannabis Compliance Inc. (“CCI”) to apply to Health Canada for a Dealer’s License (“Dealer’s License”) under the Controlled Drugs and Substances Act (“CDSA”) and the Narcotic Control Regulations. Pivot’s Dealer’s License will be attached to the BioV facility in Dollard-des-Ormeaux, Quebec, enabling the Company to perform research and development, process natural health products, store cannabis derivatives, as well as import and export cannabis oils, concentrates and approved derivatives. In addition, a DL will also allow the Company to formulate cannabis products in various dosage forms, strengths or package sizes to support future market research and product innovation opportunities.
Dr. Patrick Frankham, Pivot’s CEO, stated “We are excited to have chosen Bio V Pharma as our Canadian manufacturing partner at this important time in Pivot’s history. Consumers and regulators will demand high-quality products that are manufactured in cGMP facilities by a knowledgeable and experienced team. BioV has a track record of supplying retail pharmacy chains, including Shoppers Drug Mart and London Drugs, with products meeting the highest quality standards. We continue to execute on our business plan to monetize our platform technologies by commercializing our suite of premium, science-based cannabis products in key markets.”
Pivot is currently in discussions with several Canadian Licensed Producers to secure supply of pharmaceutical-grade cannabis oils and isolates and expects to finalize a Supply Agreement shortly. Upon receipt of a Dealer’s License from Health Canada, Pivot will be ready to market its differentiated portfolio of products to consumers in Canada and the EU. The Company remains on target to generate revenue in Q4 2018 from its operations in California, Canada and select EU countries.
About Bio V Pharma Inc.
Bio V Pharma is a Canadian based full-service manufacturer of pharmaceuticals and nutraceutical products including vitamins, botanical products, and food supplements. With over 40 years of experience in product development and manufacturing, Bio V currently services North America, Europe & the Middle East and is internationally recognized for quality & service, meeting the most stringent compliance and documentation requirements. For more information please visit www.biov.ca
About Cannabis Compliance Inc.
Cannabis Compliance Inc. offers risk mitigation, due diligence and regulatory compliance for commercial cannabis producers and resellers around the world. We focus in the global market, and provide our clients with trusted and comprehensive solutions. CCI has extensive expertise in regulatory compliance, cultivation/horticulture, security designs/tender, facility designs/build-outs, quality assurance programs, import & export, staff recruitment and financial planning. CCI exists to empower the future leaders in the global cannabis industry. For more information please visit www.cannabiscomplianceinc.com
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. Pivot’s wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to “RTIC” Ready-To-Infuse Cannabis oil-to-powder technology, BiPhasix™ Dermal 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. 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 Pharmaceuticals Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, Bio V Pharma Inc., 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, including with respect to the Dealer’s License, 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.