WOODBRIDGE, ONTARIO--(Marketwire - Oct. 6, 2011) - Pivotal Therapeutics Inc. (CNSX:PVO), a specialty pharmaceutical company with a focus on the treatment of cardiovascular disease, is pleased today to announce that it has engaged Phoenix Healthcare LLC as its contract sales force partner. The Partnership, covers the recruitment and development of a dedicated contract sales force specializing in medical food sales for Pivotal's lead therapeutic, VASCAZEN™.
"This is an exciting step for us as we prepare for the commercial launch of, VASCAZEN™, into the US cardiovascular market. Phoenix Healthcare's proven experience in building successful sales and marketing organizations in Medical Foods uniquely positions them as an excellent strategic partner in our commercialization of VASCAZEN™." said Rachelle MacSweeney, President of Pivotal Therapeutics.
With over 20 years of Pharmaceutical Sales and Marketing experience combined with specialized experience in US Medical Food sales, Phoenix Healthcare has successfully built sales forces generating in excess of USD $100 million in medical food revenues for its clients.
"We are highly confident that Phoenix Healthcare is the right partner for Pivotal as we penetrate the estimated USD $1.7 billion Cardiovascular Health Disease (CHD) market in the United States," said Eugene Bortoluzzi, Pivotal's Chief Executive Officer. "Working with Phoenix will allow us to create a flexible, scalable commercial effort to meet existing and anticipated market demands. This provides Pivotal with the flexibility to target the expansion of our sales efforts to effectively and efficiently target our response as market forces dictate."
About Phoenix Healthcare LLC
Based in Central Florida, Phoenix Healthcare was founded by Paul Chard and Dave Chubb as a result of over 22 years of continual success in the Pharmaceutical Industry and Pharmaceutical Services sector in the United States and Europe. With experience and significant expertise in a variety of Contracting Resourcing Solutions delivered effectively in the United States, Phoenix Healthcare's mission is to provide our business partners, regardless of size, institutional caliber service combined with innovative solutions to the challenges facing Companies within the Pharmaceutical, BioTech and Medical Device Industries.
About Pivotal Therapeutics Inc.
With offices in Toronto, Canada and Boca Raton, Florida, Pivotal Therapeutics is a publicly traded (CNSX:PVO) specialty pharmaceutical company with a focus on the treatment of cardiovascular disease. Pivotal Therapeutics' lead product VASCAZEN™ is a prescription medical food formulated to meet the dietary Omega-3 deficient needs of patients with cardiovascular disease through elevating Eicosapentaenoic (EPA) and Docosahexaenoic (DHA) to levels associated with reduced risk of cardiovascular complications.
VASCAZEN™ is a >90% pure, proprietary EPA:DHA fatty acid formulation, protected by a series of both issued and pending US and foreign patents and commercialized by prescription only. This unique formulation will provide the cornerstone upon which a family of cutting edge combination products, with efficacy across a broad spectrum of cardiac care, will be commercialized.
The information contained in this document is as of October 6, 2011. This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Pivotal's actual results to differ materially from those projected in such forward-looking statements. These statements can be identified by the use of words such as "will", "anticipate", "estimate", "expect", "project", "forecast", "intend", "plan", "believe", "project", "potential", and similar expressions with any discussion of future operating or financial performance or events. In particular, factors that could cause actual results to differ materially from those in forward looking statements include the following: Pivotal's inability to obtain additional financing on acceptable terms; growth in costs and expenses; inability to compete with others who provide comparable products; risk that the Company's products will not gain widespread market acceptance; risks relating to the Company's ability to maintain its CSNX listing. Forward-looking statements speak only as of the date made and are not guarantees of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements contained in this document as a result of new information or future events or developments.