Pivot Signs Exclusive Manufacturing Agreement with Bio V Pharma Inc.
May 30, 2018
Pivot Cannabis Powder Stick Packs
Pivot Pharmaceuticals Inc. is pleased to announce that it has signed an exclusive Contract Manufacturing Agreement with Bio V Pharma Inc. to manufacture, label, package and supply Pivot's bio-cannabis product pipeline. BioV is a Quebec-based full-service manufacturer of pharmaceutical and nutraceutical products including vitamins, botanical products, food and veterinary supplements and specializes in capsules, tablets, liquids and semi-solids delivered in a variety of packaging formats.
The BioV management team has over 40 years of experience in product development and manufacturing and will produce Pivot's entire bio-cannabis suite of products including BiPhasix™ topical creams and lotions, Thrudermic™ transdermal gels and lotions, Solmic™ 1% CBD oral solution, and "RTIC™" Ready-to-Infuse-Cannabis Powder presented in capsules, single-use sachets and bulk packages.
Pivot has engaged Cannabis Compliance Inc. ("CCI") to apply to Health Canada for a Dealer's License ("Dealer's License") under the Controlled Drugs and Substances Act ("CDSA") and the Narcotic Control Regulations. Pivot's Dealer's License will be attached to the BioV facility in Dollard-des-Ormeaux, Quebec, enabling the Company to perform research and development, process natural health products, store cannabis derivatives, as well as import and export cannabis oils, concentrates and approved derivatives. In addition, a DL will also allow the Company to formulate cannabis products in various dosage forms, strengths or package sizes to support future market research and product innovation opportunities.
Dr. Patrick Frankham, Pivot's CEO, stated "We are excited to have chosen Bio V Pharma as our Canadian manufacturing partner at this important time in Pivot's history. Consumers and regulators will demand high-quality products that are manufactured in cGMP facilities by a knowledgeable and experienced team. BioV has a track record of supplying retail pharmacy chains, including Shoppers Drug Mart and London Drugs, with products meeting the highest quality standards. We continue to execute on our business plan to monetize our platform technologies by commercializing our suite of premium, science-based cannabis products in key markets."
Pivot is currently in discussions with several Canadian Licensed Producers to secure supply of pharmaceutical-grade cannabis oils and isolates and expects to finalize a Supply Agreement shortly. Upon receipt of a Dealer's License from Health Canada, Pivot will be ready to market its differentiated portfolio of products to consumers in Canada and the EU. The Company remains on target to generate revenue in Q4 2018 from its operations in California, Canada and select EU countries.