VANCOUVER, BC—Pivot Pharmaceuticals Inc. announced early this morning that they have signed an option agreement with Oceanside, New York-based IP Med Inc. to acquire an exclusive worldwide license for Trivair Nasal and Pulmonary Breath-Propelled Drug Delivery Systems for the delivery of Pivot’s Ready-To-Infuse-Cannabis (RTIC) cannabinoid products. The option expires in 6 months, during which time Pivot will determine compatibility with Pivot’s RTIC powder formulations. Upon successful completion of the evaluation, Pivot will have the option to enter into a definitive licensing agreement with IP Med for the TriVair device.
“I am excited to partner with the team at Pivot Pharmaceuticals,” said IP Med’s Vice-President Ben Isaacs. “With their product development and commercialization experience, and impressive RTIC powdered cannabis technology, I am confident that the TriVair device will provide a safe and effective way for the delivery of cannabinoids into patients.”
The easy-to-use TriVair devices, winner of the Frost and Sullivan 2009 European Drug Delivery Product Differentiation Innovation of the Year Award, are discreet and disposable. They deliver pre-loaded precise unit doses, and eliminate the risk of microbial contamination. Clinical studies using the TriVair delivery system have demonstrated that the powder compound is widely distributed in all areas of the nasal cavity (with no area of powder accumulation), is effective in retaining medication in the nasal cavity without pharyngeal penetration and showed a high degree of patient acceptability.
Dr. Joseph Borovsky, Pivot’s executive vice president, Product Development stated, “We are very pleased to add the TriVair device to Pivot’s product line and expand the range of delivery systems for cannabinoids. This pre-loaded and single-use device will be a disruptive technology and provide solutions for patients with special medical needs.”
The TriVair Nasal device uses the body’s natural breath to propel a medication deep into the nasal cavity to targeted sites, bypassing the blood brain barrier, and providing the potential to better treat central nervous system diseases such as migraines, epilepsy, insomnia and post-operative pain. The TriVair Pulmonary device enables specific dosing to the pulmonary airways, thereby targeting the lungs. Such targeting can be highly relevant in the treatment of respiratory diseases, and in the prevention and treatment of respiratory infections.
Pivot will combine its patented RTIC cannabis powder technology with the TriVair delivery system to provide a rapid onset effect for patients and consumers in markets where regulations permit. Pivot’s Product Formulation Team, led by Dr. Leonid Lurya in Israel, has initiated testing to evaluate, modify and test formulations that achieve the desired particle size for delivery by the TriVair device.
“Pivot continues to grow its portfolio of patented technologies specifically for the formulation and delivery of cannabinoids. We are very excited about the unique opportunity this differentiated product presents for patients seeking an alternative method to traditional cannabis practices. Upon the completion of our compatibility testing, Pivot will have the world’s first nasal and pulmonary powdered cannabis device for quick onset and use in the medical field. This combination product may be well suited for managing such indications as sleep disorder, migraine, late-stage cancer pain, and address opioid withdrawal,” commented Dr. Wolfgang Renz, Pivot’s Chief Medical Officer.