WOODBRIDGE, ON, Sept. 8, 2014 /PRNewswire/
- Pivotal Therapeutics Inc. (OTCQX:PVTTF; CSE:PVO),
("Pivotal" or the "Company"), a specialty pharmaceutical company
with a focus on Omega-3 therapies for cardiovascular disease
("CVD") and overall health, today announced the appointment of
Prakash Gowd as the Company's Chief Financial Officer. Mr.
Gowd succeeds Eugene Bortoluzzi, who
will remain Pivotal's Chief Executive Officer.
In addition to having an impressive track record as one of
Canada's leading healthcare equity
research analysts and investment bankers, Mr. Gowd has an
accomplished history of operations, finance, sales and marketing,
business development and general management success within the
pharmaceuticals and life sciences industries. He joins Pivotal from
a leading Canadian investment bank, where he served as a Managing
Director in the firm's healthcare investment banking unit.
Among his earlier achievements, Mr. Gowd was a top-ranked
equity research analyst at two national investment firms, managed
the planning of new product and commercial development at a major
pharmaceutical company and served as a Managing Director at a
well-known strategic advisory firm working with major
pharmaceutical companies. Mr. Gowd has been the Audit Chair
and a director of a public drug developer and also as the CEO of a
private drug discovery company.
"Prakash is ideally qualified to help us effectively manage our
resources and sharpen the execution of our growth strategy," said
John Gebhardt, Chairman of Pivotal's
Board. "Prakash's unique mix of senior capital markets and
healthcare industry experience brings an important depth of
knowledge to Pivotal's management team, and we are very pleased to
have attracted an executive of his caliber to this important
position."
Mr. Gowd said, "Pivotal is well-positioned for strong growth as
a leader in the emerging medical foods industry. I am incredibly
energized by this opportunity and look forward to contributing to
the Company's success and to building shareholder value."
About Pivotal Therapeutics Inc.
Pivotal Therapeutics is a publicly traded (OTCQX:PVTTF;
CSE:PVO), specialty pharmaceutical company with a focus on
cardiovascular disease and overall health. Pivotal Therapeutics'
lead product VASCAZEN® is a prescription only
medical food formulated to meet the dietary Omega-3 deficient needs
of patients with cardiovascular disease through elevating
Eicosapentaenoic acid (EPA) and Docosahexaenoic acid (DHA) to
levels associated with reduced risk of cardiovascular
complications. OMAZEN® is a pharmaceutical grade
Omega-3 providing over 90% pure Omega-3 in each capsule for the
maintenance of good health. OMAZEN® is a patented
product available for sale and distribution in Canada.
About VASCAZEN®
VASCAZEN® is currently available in the U.S.
as a prescription only medical food specifically formulated for the
dietary management of an Omega-3 deficiency in cardiovascular
patients. VASCAZEN® is a >90% pure Omega-3
with a proprietary 6:1 EPA:DHA fatty acid formulation, protected by
a series of both U.S. and foreign patents.
VASCAZEN® has been clinically shown to correct
an Omega-3 deficiency within eight weeks of treatment with positive
concomitant effects on the lipid profiles, mainly a 48% reduction
of triglycerides and an increase of HDL without negative impact on
the LDL-C lipid profile. VASCAZEN®'s
results were achieved with a dose of 3 grams of EPA and DHA per day
of a prescription grade, high purity, uniquely formulated
Omega-3.
Disclosure Notice
The information contained in this document is as of
September 8, 2014. 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 CSE 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. The
CSE has not reviewed and does not accept responsibility for the
adequacy or accuracy of this information.
SOURCE Pivotal Therapeutics Inc.