Dr. Patrick Frankham reports
PIVOT PHARMA SIGNS LETTER OF INTENT WITH PHARMASCIENCE INC.
Pivot Pharmaceuticals Inc. has signed a letter of intent, dated Feb. 26, 2019, with Pharmascience Inc., whereby Pharmascience will conduct analytical testing, collaborate on development and research of new medicinal products containing cannabis or cannabis derivatives and drugs containing cannabis and/or cannabis derivatives, provide regulatory support necessary to attain marketing authorization, and marketing and distribution of finished pharmaceutical dosage forms. Further terms and details will be provided upon the execution of the definitive agreement.
Pharmascience is the fourth largest manufacturer of over-the-counter generic drugs in the country and is a leading manufacturer and marketer of prescription generic, over-the-counter and behind-the-counter products, as well as Food and Drug Administration-approved Canadian-made injectables. The company commercializes nearly 300 product families in 20 different dosage forms for over 2,000 products. In Canada alone, more than 45 million prescriptions a year are filled with Pharmascience products.
Pivot's chief executive officer, Dr. Patrick Frankham, stated: "We are thrilled that Pharmascience has agreed to collaborate with Pivot as we prepare to commercialize our biocannabis product line. Quality and innovation will be important for the burgeoning cannabis derivatives industry. Pharmascience is a well-respected and trusted developer and manufacturer, and we can think of no better partner to help bring Pivot's products to consumers."
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.
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