Pivot Pharmaceuticals And Solmic Research Gmbh Sign License And Collaboration Agreement For Improved Oral Formulations Of Cannabinoids
Published: Sep 25, 2017
VANCOUVER, BC--(Marketwired - September 25, 2017) - Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) (Pivot or the Company) and its medical cannabis product division, Pivot Green Stream Health Solutions, today announce the signing of a Definitive Agreement with Solmic Research GmbH (Germany) in which Pivot will acquire worldwide rights to Solmic Solubilisation Technology for the development and commercialization of cannabinoid-containing natural extracts. Solmic's proprietary technology provides significantly higher bioavailability and stability compared to alternative oil-based formulations.
"Solmic is pleased to partner with Pivot's experienced management team to develop water-soluble products containing cannabinoid natural extracts. Our proprietary technology will solve many issues that are faced by the fast-developing medical cannabis industry. By increasing bioavailability and stability, patients will be able to confidently take correct and accurate doses of oral solutions to help with their therapeutic needs," states Solmic CEO Dr. Wolfgang Schoenfeld.
Solmic's technology allows active ingredients to become water soluble without changing their composition and nature. Solubilized substances that are packed in micelles are protected from degradation from light, stomach acid, and from enzymes released in the intestinal tract. In addition, micelles can mask unpleasant smells and tastes. The micellisation process results in a stable, homogenous and transparent mixture, thereby significantly increasing uptake from the gut into the blood system of fat soluble ingredients, resulting in greater bioavailability.
Pivot's first oral product candidate (PGS-N001) to be developed and commercialized using the Solmic drug delivery technology will provide cancer supportive care to patients suffering from chemotherapy-induced vomiting, nausea, neutropenia and anemia. Pivot will seek to register PGS-N001 as a Natural Health Product (NHP) for consumers. Products following the NHP pathway have shorter development cycles and can generate revenue faster than traditional pharmaceuticals. The global cancer supportive care products market is estimated to reach US$29.87 billion by 2021.(1)
Patrick Frankham, Pivot's CEO states, "Solmic's water-soluble technology has already been demonstrated in the nutraceutical and cosmeceutical markets in Europe. The addition of Solmic, our second disruptive drug delivery technology platform for cannabinoids, strengthens our business strategy to be a market leader in the development and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products."
About Solmic Research GmbH
Solmic Research GmbH (Germany) is a privately owned company focused on the development of nutraceuticals, cosmeceuticals and pharmaceuticals, with a vision to deliver quality innovative products that advance health and wellness. The talented scientists of Solmic Research leverage proprietary technologies to deliver a broad range of products made using only natural ingredients to ensure the best possible bioavailability.
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. is an emerging biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies.
Pivot's medical cannabis product division, Pivot Green Stream Health Solutions (PGS or Pivot Green Stream), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. PGS has acquired worldwide rights to BiPhasix™ Transdermal Drug Delivery platform technology (topical) and Solmic Solubilisation technology (oral) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. PGS' initial product development candidates will include topical treatments for women's sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care. Pivot Green Stream will seek to register these as Natural Health Products (NHPs) for consumers. Products following the NHP pathway have shorter development cycles and can generate revenue faster than traditional pharmaceuticals. Pivot Green Stream's pipeline targets indications such as cancer supportive care, pain and inflammation, women's sexual dysfunction, dermatology and eye disease.
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 or Pivot Green Stream, 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 level of business and consumer spending, the amount of sales of Pivot's products, 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.