Pivotal Therapeutics Inc.

Pivotal Therapeutics Inc.

June 01, 2011 10:00 ET

Pivotal Therapeutics Inc. Announces Management Team & Board of Directors

TORONTO, ONTARIO--(Marketwire - June 1, 2011) - Pivotal Therapeutics Inc. (CNSX:PVO) is pleased to announce the Company's Management and Governance teams. In building the organizational structure for Pivotal Therapeutics, focus was given to ensure efficient operational management and strong scientific research and development, while strategically creating and responding to growth opportunities.

"With Dr. George Jackowski and his talented management team at the helm, I am confident we will not only meet, but exceed Pivotal's goals and expectations while having a positive impact on the quality of life for patients suffering from cardiovascular diseases", says Rear Admiral (Ret) James J. Carey, Pivotal Board Director.

"With the combined expertise of the team, Pivotal Therapeutics Inc. has been fortunate to draw from a network of key talent with proven track records of success in Scientific Research & Development as well as Management and Finance with significant achievements both within the BioTech Industry and across other sectors," says Dr. George Jackowski, Chief Scientific Officer and Chair. "Pivotal Therapeutics Inc. is well-positioned to create value and achieve its long-term goals of continuing to develop cutting edge medical foods for the treatment and management of cardiovascular diseases."

George Jackowski, PhD

Chief Scientific Officer and Chair, Board of Directors

A preeminent scientist, Dr. Jackowski is also recognized for his keen business sense and expertise in the BioTech industry. His skill in building successful teams and developing talent both garners success and creates long-term value for the biotech projects in which he involved. Dr. Jackowski has been instrumental founding nine biotechnology companies in his career, four of which are public. Furthermore, he has contributed to the creation of 12 additional biotechnology companies. He has grown companies to market caps of over $350 million, raised from public capital markets over $125 million and completed deals with Big Pharma of over $100 million USD in transactions. His most recent experience is as Chairman, CEO and CSO of SynX Pharma Inc., which he founded in 1997 and was acquired by Nanogen Inc., a San Diego based company. Dr. Jackowski holds Directorships in numerous biotech companies.

Recipient of the 1996 MEDEC Award for Medical Achievement for his invention of the Cardiac STATUS™ CK-MB/Myoglobin Card Test, which aids in the early diagnosis of myocardial infarction and is commercialized worldwide in hospital emergency rooms, Dr. Jackowski holds over 141 patents filed and issued and has authored 44 publications and 61 abstracts. With academic positions at the University of Toronto in the departments of Laboratory Medicine and Pathobiology and of Surgery, Dr. Jackowski has served as Chair of Bio Canada Connect, as a Board Member of the Ontario BIOCouncil and on the Board of Directors for the Canadian Stroke Network. Dr. Jackowski has also served on many federal and provincial governmental biotechnology committees. Dr. Jackowski has been intimately involved in the enforcement of patent claims, patent litigation and patent interference proceedings. Dr. Jackowski, a respected cardiovascular biochemist, received his training at the Cardiovascular Research Institute at the University of San Francisco, California. Dr. Jackowski has over 25 years experience and extensive networks in the cardiovascular and CNS disease markets, particularly pertaining to the commercialization of diagnostic products.

Eugene Bortoluzzi, BCom, MBA

Chief Executive Officer, Chief Financial Officer

Mr. Bortoluzzi is a Senior Finance Executive with significant experience in public and private companies ranging from small business environments to TSE and NASDAQ listed international organizations. He is an executive leader with a breadth of responsibility encompassing human resources, administration, finance, treasury, investor relations, operations and new business development. He has over 12 years experience in managing biotechnology companies. Mr. Bortoluzzi's areas of expertise include: Strategic Planning, Financial Management, Turnarounds, Mergers and Acquisitions, Investments and Analysis, Financial Modeling, Track Record of Raising Capital and Structuring Major Business Deals, Operational Management, Business Development, GPO/Purchasing Contract Negotiations, Track Record of International Sourcing/Trade Relations, US and Canada Regulatory Reporting ensuring complete and ethical disclosure.

Rachelle MacSweeney, BSc, MBA


Mrs. MacSweeney has spent a number of years acting as a marketing and business development consultant. Mrs. MacSweeney has worked for a number of companies in a variety of industry sectors, including, but not limited to, the biotechnology industry, the healthcare and homecare product industry, the aerospace and defense industries, and post-secondary education. Mrs. MacSweeney brings to Pivotal a well-rounded and polished understanding of Business Development, as well as a bright and creative talent for marketing. Mrs. MacSweeney holds an Honours degree in Biomedical Science from the University of Guelph and a Masters Business Administration from Dalhousie University, with specific interests and areas of expertise in marketing, new venture creation, product management/development, and entrepreneurial studies.

Jason Yantha, PhD

Director, Scientific Operations & Medical Communications

Dr. Yantha brings to Pivotal a broad understanding & extensive research experience in immunity and related disease as well as diagnostics, proteomics & discovery of blood biomarkers. Prior to joining Pivotal, he gained experience at SynX Pharma as a research scientist for the proteomics & discovery division of the company. In this role, he directed efforts that contributed to over 30 granted US patents. Dr. Yantha received his doctorate from the University of Toronto with a research focus on immunology and autoimmune diseases. For his doctorate, Dr. Yantha identified a neuronal link in the development of type I diabetes and developed a neurosurgical procedure that protects against the onset of, and reverses diabetes in animal models.

Rear Admiral [Ret.] James J. Carey

Board of Directors

Rear Admiral Carey has a proven background of senior leadership in the American military, the U.S. federal government, the private sector, and the philanthropic world. He is the former Chairman of the U.S. Federal Maritime Commission during the administrations of President Reagan and President George Bush Sr. He retired from the American Navy in 1994 following service on the staff of the Chief of Naval Operations. He has been a member of 30+ boards of directors during his various careers, and has been the elected National Chairman of five national/international organizations or associations. He currently serves as Chairman of the Admiral Carey Foundation and is also the elected National Chairman of The Flag & General Officers' Network, a 3000+ member organization of U.S. admirals and generals. Admiral Carey brings to our Pivotal board of directors a wealth of experience, qualifications, and leadership with the U.S. federal government, the U. S. Department of Defense, the private sector and corporate world, and a broad range of associations and organizations of significant value to our Pivotal business plan. He lives in Alexandria, VA, USA.

Giuseppe Simeone

Board of Directors

Bringing a science and strong finance background to this role, Mr. Simeone's expertise is considered a vital asset for Pivotal Therapeutics. A graduate of York University with a Bachelor of Sciences degree and a career in commercial finance and business in the banking and construction industries, Mr. Simeone has held various positions in the lending field. Most notably, as Manager of Finance of York Steel Construction and executive vice-president of Global Travel Solutions, a family business. Mr. Simeone grew the business from $3 million to $175 million, continuing to work with the company until its sale in 2000.

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) 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, will be commercialized.

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. In particular, factors that could cause actual results to differ materially from those in forward looking statements include, our inability to obtain additional financing on acceptable terms, risk that our products and services will not gain widespread market acceptance; continued consumer adoption of digital technology, inability to compete with others who provide comparable products, the failure of our technology, inability to respond to consumer and technological demands, inability to replace significant customers; seasonal nature of our business and other risks detailed in our filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements. When used in this document, the words "believe," "expect," "anticipate," "estimate," "project," "plan," "should," "intend," "may," "will," "would," "potential," and similar expressions may be used to identify forward-looking statements.

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