Pivot Pharmaceuticals Announces Receipt of Notice of Allowance from the United States Patent and Trademark Office

BOSTON, MA and VANCOUVER, BC, March 30, 2017 (GLOBE NEWSWIRE) -- Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) (“Pivot” or the “Company”), a biotechnology company engaged in the development and commercialization of therapeutic pharmaceutical products, today announced the allowance of another set of patent claims by the U.S. Patent and Trademark Office (USPTO). The allowed claims are associated with the patent application entitled: “NOVEL COMPOSITIONS OF COMBINATIONS OF NON-COVALENT DNA BINDING AGENTS AND ANTI-CANCER AND/OR INFLAMMATORY AGENTS AND THEIR USE IN DISEASE TREATMENT.”

Steven Grossman, M.D., Ph.D., Chairman of Pivot’s Scientific Advisory Board and a co-inventor of the patent stated that “this Notice of Allowance highlights the novelty and potential synergistic impact of combining pyrrolobenzodiazepine dimer (PBD) drugs developed by Pivot with conventional chemotherapy on improving treatments for the most devastating women’s cancers such as advanced ovarian and endometrial cancer. Pivot’s novel PBD drugs target vulnerabilities in cancers induced by the very process that generates the cancer, such as mutation of key tumor suppressor genes or the DNA repair apparatus.  As such, PBD drugs offer the possibility of increasing the killing of cancer cells while sparing normal tissues that do not harbor similar mutations and DNA repair defects.”

Pravin Chaturvedi, Ph.D., Pivot’s President and Chief Executive Officer, who is also a co-inventor of this patent stated that “this allowance underscores the importance of developing appropriate combination regimens for maximizing the benefit to cancer patients receiving chemotherapy.  Chemotherapy remains the standard-of-care for the treatment of these cancers affecting women. Combining one of Pivot’s novel PBD drugs with existing chemotherapeutic agents like cisplatin and doxorubicin will allow the opportunity for development of new treatment options for these patients.  Furthermore, given the scope of this most recent patent claim set, this allowance is an even greater testament to the innovative nature of Pivot’s PBD portfolio.”

The women’s health and overall cancer markets are expected to grow to approximately $22.5 billion and $114 billion respectively by 2018 at an annual growth rate (CAGR) of 3.5%. Pivot leverages various technologies and has a pipeline of novel drug candidates to enter this marketplace and develop and commercialize new therapeutic agents in these areas of high unmet clinical need. The Company has assembled a highly experienced management and advisory team that has clinical, commercial, product development and financial experience and has successfully commercialized more than 10 drugs.

About Pivot Pharmaceuticals Inc.

Pivot is an emerging pharmaceutical company engaged in the development of novel therapies to address unmet medical needs in oncology and urology affecting women’s health.  The Company has a strategic emphasis on the development of innovative drugs that will provide new treatment options for gynecological and breast cancers. The Company has a global drug development platform that combines the strengths of the United States, Canada and India which allows accelerated drug development strategies to provide novel therapeutic options to address medical needs in women’s health. 

Cautionary Statement

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 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.

CONTACT: Contact:

Pivot Pharmaceuticals Inc.
Pravin Chaturvedi, PhD
Chief Executive Officer
Tel: 781 935 1211
Email: info@pivotpharma.com
Web:   www.pivotpharma.com