Vancouver-based biopharmaceutical company Pivot Pharmaceuticals Inc. (CSE: PVOT) (OTCQB: PVOTF) this morning announced its acquisition of Thrudermic, LLC, a privately-held North Carolina company. Per the update, Pivot will pay $1.00 for all of the listed and outstanding units of Thrudermic and issue an aggregate of 500,000 shares in the capital of Pivot to Dr. Joseph Borovsky and Dr. Leonid Lurya for their intellectual property portfolio, including patents, good will and know-how in connection with Thrudermic’s Transdermal Nanotechnology. Additionally, Borovsky has been appointed Pivot’s vice president, product formulation, and Lurya has been appointed Pivot’s executive director, product formulation. “Thrudermic is Pivot’s fourth disruptive formulation and delivery platform for cannabinoids. We are thrilled that Dr. Borovsky and Dr. Lurya have agreed to join us to develop and commercialize therapeutic bio-cannabis products,” Dr. Patrick Frankham, CEO of Pivot, stated in the news release. “They are highly experienced formulations experts with many years of pharmaceutical industry know-how. Pivot continues to position itself as a leader in the delivery of dosable bio-cannabis, something that consumers and regulatory agencies will demand as legalization occurs.”
To view the full press release, visit http://nnw.fm/Db2Jz
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF), based in Vancouver, Canada, is an emerging biopharmaceutical company engaged in the development and commercialization of pharmaceuticals and nutraceuticals that provide novel treatments for unmet healthcare needs. Pivot Pharmaceutical’s subsidiary, Pivot Green Stream Health Solutions Inc., will focus on improving the bioavailability of cannabinoid-based pharmaceuticals. Pivot Green Stream is tasked with developing several natural health products containing cannabinoids that can receive a Health Canada Natural Health Product designation. For more information, visit www.PivotPharma.com
More from NetworkNewsBreaks
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]