Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) (CSE: PVOT), and its wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. (“PGS” or “Pivot Green Stream”), are pleased to announce that the Company has signed a Service Agreement with SoluBest Ltd., an Israeli-based research organization that specializes in the development of client tailored formulation and pilot production services and scale-up. SoluBest, located near the prestigious Weizmann Institute of Science, has been selected to develop Pivot’s topical bio-cannabis pipeline of products.
Pivot also wishes to announce that pursuant to its previously announced Binding Letter of Intent to acquire Thrudermic LLC, Dr. Joseph Borovsky and Dr. Leonid Lurya have agreed to lead the development of Pivot’s topical bio-cannabis programs at SoluBest. These programs include BiPhasix semi-solid topical cream and Thrudermic transdermal nanotechnology for the delivery of cannabis through the skin barrier.
Dr. Borovsky, Thrudermic’s Chief Executive Officer, indicated that, “Thrudermic expects to provide Pivot with product for market launch by Q2 2018. Working in SoluBest’s state-of-the-art facility using Thrudermic’s formulation know-how will afford Pivot the opportunity to accelerate the development, testing and introduction of new products to the market.”
Dr. Patrick Frankham, Pivot Pharmaceuticals’ Chief Executive Officer, states that, “we are delighted to be moving ahead with our plan to develop best-in-class topical bio-cannabis products led by Dr. Borovsky and Dr. Lurya from Thrudermic. We are equally happy to report that we have found a very qualified laboratory and development partner for our topical development programs for our BiPhasix and Thrudermic technologies in Israel. This announcement accelerates our product development and confirms that we will be ready to introduce several bio-cannabis based products to the market in 2018. The potential to recognize revenue from quality products will help patients and caregivers better manage their health conditions.”
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