Mr. Patrick Frankham reports
PIVOT SIGNS EXCLUSIVE MANUFACTURING AGREEMENT WITH US-BASED CONTRACT MANUFACTURER
Pivot Pharmaceuticals Inc. has signed an exclusive contract manufacturing agreement with Vermont-based Bio V America Inc. (BiovUS) to manufacture, label, package and supply Pivot's line of hemp-derived CBD (cannabidiol) products to be sold in the United States, where regulations permit.
With this agreement, Pivot will immediately commence production of its patented and differentiated cannabis formulations using pharmaceutical grade hemp-derived CBD. Initial products ready to be marketed include two-piece vegan capsules, coated tablets, topical creams, roll-on gels, powder stick packs and infused beverages. All of Pivot's products will be marketed under the "Pivot Naturals" brand.
Cannabidiol (CBD), which is derived from the hemp plant, is a close relative to another member of the cannabis family, marijuana. Both plants contain abundant types of cannabinoids, but marijuana is high in the psychoactive chemical THC (tetrahydrocannabinol), while hemp is rich in CBD, the non-psychoactive component of cannabis that shows potential medicinal benefits. Pivot's product catalogue now includes derivatives formulated with CBD, CBD:THC, THC, (all sourced from marijuana) or hemp-derived CBD.
"Our sales and marketing team is working diligently to detail our new hemp-derived CBD product line to national pharmacy and grocery store chains, and health and nutrition distributors in the U.S. There remains a large unmet need for stable, bioavailable and effective biocannabis products that consumers demand for alternative care options. Adding another U.S.-based manufacturing site is an important inflection point for Pivot. In addition to our manufacturing capabilities in California and Vermont, we await Health Canada's approval of our pending standard processor licence for our facility in Montreal. Pivot is well positioned to launch multiple products, nationally and internationally," stated Pivot's chief executive officer, Dr. Patrick Frankham.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals is a science-based consumer packaged goods cannabis company engaged in the development and commercialization of health and wellness products using innovative, patent-protected drug delivery technologies. Upon receipt of a standard processor licence (pending) from Health Canada, Pivot's premium, bioavailable, stable and effective products will be manufactured at its 50,000-square-foot current good manufacturing practices facility located in Montreal, Que.
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