Dr. Patrick Frankham reports
PIVOT SECURES SUPPLY OF PHARMACEUTICAL GRADE CBD ISOLATE FROM PURE HOLDING AG
Pivot Pharmaceuticals Inc. has signed a definitive agreement with Pure Holding AG to supply Pivot with up to 3,000 kilograms annually of CBD (cannabidiol) isolate. Pure is a Swiss-based company that cultivates cannabis and produces high-quality CBD products and isolates. Pure and its five wholly owned subsidiaries control their complete cannabis supply chain from breeding varieties to distribution.
Supply: Pure will supply Pivot up to 3,000 kilograms annually of pharmaceutical-grade CBD isolate for use in Pivot's industry-leading pipeline of bio-cannabis products.
Co-marketing and distribution: Pivot and Pure will market and distribute each other's product lines in their respective territories; Pure's currently available products include tinctures, creams, candies and teas.
Research and development: Pivot and Pure will collaborate on the development of new pharmacological products using tailored genetic varieties.
Pivot's market assessment shows that the company will require approximately 3,000 kilograms of pharmaceutical-grade CBD isolate in 2019 to fulfill projected orders in Canada, Mexico and the European Union. Initial products will include capsules, tablets, creams, gels, liquid shots and oral solutions, all formulated using Pivot's patented drug delivery technologies. Consumers will be able to purchase products that are bioavailable, stable, dosable and accurate.
Stevens Senn, chief executive officer of Pure Holding, stated: "The synergies between Pure and Pivot were clear from our first meeting. Pivot's products are unmatched in the industry, and we look forward to developing and commercializing new products using Pure's high-grade CBD oils and isolates. We will also focus on developing new cannabis varieties that will result in customized CBD or THC [tetrahydrocannabinol] crystals that Pivot will formulate into differentiated products for their global customers."
Dr. Patrick Frankham, chief executive officer of Pivot, commented: "We are thrilled to form a strategic partnership with Pure Holding AG. Stevens and his team at Pure have put together one of the most impressive vertically integrated cannabis companies that we have come across. Their belief in finding science-based solutions for consumers is refreshing. Pivot's line of premium bio-cannabis products will contain the highest-quality CBD isolates. The purity is exceptional. Pivot's scientific team looks forward to collaborating with Pure to continue to develop products containing CBD from strains that will be specifically engineered to serve the needs of the health and wellness market. With this agreement, Pivot has secured significant access to supply and expanded distribution in the EU, resulting in accelerated speed to market of our products."
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals 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., 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, Calif., will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market.
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