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Vancouver, British Columbia, Aug. 12, 2015 (GLOBE NEWSWIRE) -- Pivot Pharmaceuticals Inc. (OTCPK: PVOTF) ( "Pivot" or the "Company"), a biotechnology company engaged in the development and repositioning of existing drugs with a focus on unmet medical needs in women's health, is pleased to announce the appointment of Dr. Pravin Chaturvedi, PhD, as Chairman of its Scientific Advisory Board (SAB).
Dr. Chaturvedi is the Founder and Chairman of IndUS Pharmaceuticals and co-founder of Oceanyx Pharmaceuticals, serving as the Chief Executive Officer of both organizations. He is the former Chief Scientific Officer of Napo Pharmaceuticals. In addition, he is the Chair of the Research Advisory Council for the Health Sciences Center of West Virginia University and is an adjunct faculty member at Georgetown Medical School. Prior to IndUS Pharmaceuticals, he served as the President and Chief Executive Officer of Scion Pharmaceuticals.
During his 25+ year career in the pharmaceutical industry, Dr. Chaturvedi has participated in the discovery and/or development activities for many new chemical entities (NCEs), culminating in the successful development and commercialization of several new drugs that are currently marketed by various companies. Prior to Scion, he was the Head of Lead Evaluation at Vertex Pharmaceuticals, and previously in the pre-clinical group at Alkermes. He started his R & D career with the Product Development group at Parke-Davis/Warner-Lambert Company (now Pfizer). Dr. Chaturvedi holds a PhD in Pharmaceutical Sciences from West Virginia University and a Bachelor of Science in Pharmacy from the University of Bombay.
"I am pleased and excited to be joining the Scientific Advisory Board of Pivot Pharmaceuticals," said Dr. Chaturvedi. "Over my long career in the pharmaceutical industry I have seen dramatic changes in healthcare and the introduction of several innovative and transformative drugs that have improved patient lives. Pivot's focus on women's health represents an important area of significant underserved medical need. I am pleased to be able to participate and collaborate with the very experienced leadership team of Pivot Pharmaceuticals as it starts to develop novel therapeutic agents."
Pivot's Chairman, Dr. Ahmad Doroudian said, "We are extremely thrilled to welcome Dr. Chaturvedi to Chair our Scientific Advisory Board. He is experienced in founding, managing, financing and directing startup pharmaceutical companies. The wealth of knowledge he brings with him relating to the discovery and development of novel drugs and managing their development for global commercialization will be of great assistance to Pivot's management team as we strive to become a leader in women's health."
The SAB's mission is to assist Pivot's management team in maximizing the value of the company's product pipeline, primarily by advising on scientific and research focus, clinical studies, safety and regulatory issues, commercialization opportunities, and assessing potential re-profiling candidates. Pivot's CEO, Dr. BJ Bormann said, "I can't think of a more experienced advisor for Pivot to be able to work with. We are all looking forward to progressing the Pivot programs towards the women that need these treatments."
About Pivot Pharmaceuticals Inc.
Pivot is an early stage biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceutical products, with a strategic emphasis on the innovation of new therapeutic uses for existing drugs to treat unmet conditions related to women's health. Pivot has identified ideal candidates for the treatment of Dysmenorrhea, lower urinary tract symptoms (LUTS), and menopausal symptoms (hot flushes).
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.