VANCOUVER, Aug. 2, 2018 /PRNewswire/ - Pivot Pharmaceuticals Inc. (CSE: PVOT /OTCQB: PVOTF / FRA: NPAT) ("Pivot" or the "Company") is pleased to announce that it has entered into a Definitive Co-marketing and Distribution Agreement ("the Agreement") with S.T.U. GmbH ("S.T.U."), a Switzerland-based company that manufactures and markets "Hemplix™" brand CBD oils. Under the terms of the Agreement, S.T.U. will market and sell Pivot's proprietary cannabinoid-derived products online and in retail outlets in the U.K., Switzerland, Germany, Austria and Italy (where regulations permit). In addition, Pivot will distribute the Hemplix™ product line in Canada, Latin America and the United States, where regulations permit and upon receipt of necessary licenses from regulatory authorities.
- Pivot Naturals branded products to be distributed and sold in the EU by S.T.U. GmbH
- Hemplix™ branded products to be distributed and sold by Pivot in the Americas;
- Pivot expands its product offering, positioning itself as a rapidly growing, diversified bio-cannabis derivatives player
- Significant near-term revenue from premium, science-based products with patented formulations
Hemplix™ CBD oil was developed in Switzerland by Swiss pharmacists, using organically cultivated cannabis plants. The CBD oil is extracted using a specialized ultrasonic process at low temperatures before being dissolved in organic hempseed oil, reducing the bitter taste often found in CBD oil solutions. The Hemplix™ "Classic Natural Line" ranges from 6% CBD to 24% CBD and "flavoured" Hemplix™ products are available in cassis, cherry, coconut and orange. Additional products include a 6% CBD ointment and pure CBD globules. A vegan 3% CBD oil, gluten and lactose free, is also available for dogs and cats.
"We are pleased to partner with Pivot to develop, commercialize and co-market products across the globe. This Agreement represents a significant milestone for us," said Pascal Siegrist and Claudio Iannuzzi, Directors of S.T.U. GmbH and the owners of the Hemplix™ brand. "Our products are carefully produced in Switzerland using 100% organic raw materials. The extraction process allows us to retain all of the beneficial properties of the cannabis plant, such as CBD, CBDA, as well as CBG and many other secondary plant ingredients. Pivot's impressive product portfolio will be a welcome addition to the EU market. We look forward to introducing the "Pivot Naturals" brand of topical creams and lotions, oral solutions and capsules to our customers via our growing retail and online sales channels."
"Claudio and Pascal have developed an outstanding portfolio of high-quality CBD-based products that are currently being sold in the EU with great consumer demand and customer satisfaction," said Dr. Patrick Frankham, CEO of Pivot Pharmaceuticals. "Hemplix™ is a recognized Swiss-made brand which we will launch in the Americas. This Agreement also provides Pivot with immediate access to hundreds of retail outlets and millions of online consumers, in the largest cannabis market in the world, for our basket of Pivot Naturals products."
Dr. Frankham continued, "As we continue to execute on our business plan, Pivot has positioned itself to have the largest portfolio of bio-cannabis based health and wellness derivatives in the industry. To date, our team has secured a strong intellectual property portfolio; completed development of scientifically-based and patented product formulations; established manufacturing facilities in Canada and California; and solidified branding, marketing and distribution in major markets. Pivot is now well positioned to rapidly gain market share in the cannabis market resulting in significant revenue beginning in Q4 2018."
With a market of over 742 million people, and total healthcare spend of €2.3T, Europe is the largest medical cannabis market in the world. The European medical cannabis market could be worth €55B by 2023 once all markets have implemented legislation and market infrastructure. The European Industrial Hemp Association (EIHA), nova-Institute and HempConsult estimate that the European market for CBD as a pharmaceutical product is already worth €2b alone.1
About S.T.U. GmbH
Based in Liestal, Switzerland, S.T.U. GmbH develops and sells CBD oils produced using 100% organic raw materials, marketed under the "Hemplix™" brand. Hemplix™ CBD is manufactured using proprietary ultrasound extraction methods starting with the highest quality hemp grown organically in Ticino. The production of the CBD oil takes place in a protected environment and is subject to strict quality regulations. When making the Hemplix™ CBD oil, only the best and purest quality of CBD oil is good enough. For further information please visit http://www.hemplix.ch/
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals Inc. 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. ("PGS" or "Pivot Green Stream"), conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot's wholly-owned U.S. subsidiary, Pivot Naturals, LLC, based in Costa Mesa, California, will manufacture and supply finished powderized cannabis products such as food additives, capsules, bulk powder and stick packs to the California market. PGS has acquired worldwide rights to "RTIC" Ready-To-Infuse Cannabis oil-to-powder technology, BiPhasix™ Dermal Drug Delivery platform technology (topical), Solmic Solubilisation technology (oral) and Thrudermic Transdermal Nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD), and tetrahydrocannabinol (THC)-based products. For more information please visit www.PivotPharma.com
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 Inc., Pivot Green Stream Health Solutions Inc., Pivot Naturals, LLC, S.T.U. GmbH, Hemplix™, 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 failure to meet the conditions imposed by the CSE or other securities regulators, the level of business and consumer spending, the amount of sales of Pivot's products, statements with respect to internal expectations, 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.
SOURCE Pivot Pharmaceuticals Inc.