TORONTO, ONTARIO--(Marketwire - Aug. 18, 2011) - Pivotal Therapeutics Inc. (CNSX:PVO), a specialty pharmaceutical company with a focus on the treatment of cardiovascular disease, is pleased to announce today that it has engaged The Shoreham Group, LLC to provide investor relations and strategic advisory services. Pivotal's lead product is a proprietary prescription-grade Omega-3 product, formulated with a unique Eicosapentaenoic (EPA) to Docosahexaenoic (DHA) ratio of ultra-high purity, for utility as an aid in the dietary management of Omega-3 deficient cardiovascular disease patients.
New York based Shoreham is a leading investor relations firm predominately serving the life sciences and technology sectors, with offices in New York and Boston. Shoreham will be assisting Pivotal with its corporate goals, including broadening the Company's exposure to institutional investors, daily IR activities, and corporate communications. Shoreham will also be responsible for creating significant awareness in positioning Pivotal for financing through access to the US and international capital markets.
In consideration for these services, Pivotal has both structured a monthly fee-for-service and has issued to Shoreham options to purchase 100,000 shares of common stock at an exercise price of $0.30, equal to the closing price on August 17, 2011. The options are fully exercisable and have a term of five years.
"Pivotal has an exciting story to tell," says Rachelle MacSweeney, President of Pivotal Therapeutics. "The appointment of a well-established IR firm to handle our investor relations needs is a key part of our business plan given the care with which we have positioned the Company to date, including but not limited to the launch of our lead therapeutic, VASCAZEN™ into the Canadian and US markets this fall."
"We are extremely pleased to be working with an emerging specialty pharmaceutical company of Pivotal's caliber," commented Tim Ryan, Managing Director of Shoreham. "We look forward to assisting Pivotal in achieving its business objectives of having a positive impact on the quality of life for patients suffering from cardiovascular disease."
VASCAZEN™ will be launched both in Canada this October at the Canadian Cardiovascular Congress' Vancouver 2011 Conference and in the US this November at the American Heart Association's Scientific Sessions 2011 in Orlando, Florida.
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) Omega-3 fatty acids 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, can be commercialized.
The information contained in this document is as of August 18, 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.