INITIATES DEVELOPMENT OF ADDITIVES AND FORMULATIONS FOR CANNABIS BEVERAGE MARKET
Pivot Pharmaceuticals Inc. (PVOT.C) has initiated development of CBD (cannabidiol) and THC (tetrahydrocannabinol) additives and formulations for the multibillion-dollar beverage industry using its patented ready-to-infuse cannabis powder and Solmic Micelle water-soluble technologies. The development program will be led by Pivot's executive director of formulations, Dr. Leonid Lurya, at the company's contract lab in Israel.
Pivot aims to bring finished additives to market that will include bulk cannabis powder for infusion into beverages by multinational beverage companies and craft brewers interested in entering the massive cannabis market. The company has already received unsolicited inquiries into the application of both their RTIC and Solmic technology into existing beverages. As well, Pivot is currently developing cannabis in a single-use powder formula sachet and a water-soluble liquid solution in a concentrated dropper bottle that consumers can add to their favourite beverage. The new products are being developed to be flavourless, odourless and will compliment the consumer's intended beverage experience. Pivot's beverage formulations will also be designed to provide consistent dosing and be highly bioavailable and assure a rapid onset of cannabinoid effect.
Dr. Patrick Frankham, Pivot's chief executive officer, stated: "Pivot will bring cannabis derivatives to market that are differentiated and backed by science. The beverage market opportunity is just too big to ignore and our patented technologies lend themselves well to this space. Existing solutions are unable to provide consistent dosing nor offer the most effective bioavailability, of which our patented technology is able to remedy. Through Dr. Lurya's work and our consistent commitment to producing the best available product on the market, it is our intention to supply CBD and THC additives as ingredients for global wine, spirits, beer and energy drink companies who have the capabilities for large-scale manufacturing and distribution."
Cowen and Co. recently revised its cannabis market target by $25-billion (U.S.) as it "now look for the industry to generate $75-billion (U.S.) in sales by 2030 (versus $50-billion (U.S.) by 2026 previously). Underpinning this estimate is proprietary analysis on binge drinking behavior, as well as the role that legal cannabis access has in terms of driving trial (measured by cannabis first-use rates for consumers over 18). This work builds on our prior assertions that cannabis acts as a substitute social lubricant for consumers. We believe this is the first time detailed state-level binge drinking statistics have been analyzed and juxtaposed against cannabis use, where we found that legal cannabis states (as of 2016) binge drink 13 per cent fewer times per month than non-cannabis states. Meanwhile, our extensive analysis on the impact that legal cannabis access can have on overall drinking patterns reinforces our conviction that cannabis and alcohol are substitute products."
About Pivot Pharmaceuticals Inc.
Pivot Pharmaceuticals is a biopharmaceutical company engaged in the development and commercialization of therapeutic pharmaceuticals and nutraceuticals using innovative drug delivery platform technologies. Pivot's wholly owned medical cannabis products division, Pivot Green Stream Health Solutions Inc., conducts research, development and commercialization of cannabinoid-based nutraceuticals and pharmaceuticals. Pivot Green has acquired worldwide rights to ready-to-infuse cannabis powder to oil technology, BiPhasix transdermal drug delivery platform technology (topical), solmic solubilization technology (oral) and thrudermic transdermal nanotechnology (transdermal) for the delivery and commercialization of cannabinoid, cannabidiol (CBD) and tetrahydrocannabinol (THC)-based products. PGS's initial product development candidates will include topical treatments for women's sexual dysfunction (PGS-N005), as well as psoriasis (PGS-N007), and an oral product (PGS-N001) for cancer supportive care.