– CANADA, ON – Pivotal Therapeutics Inc. (OTCQX:PVTTF)(CSE:PVO), a specialty pharmaceutical company with a focus on Omega-3 therapies for cardiovascular disease and overall health, today announced changes to its Board designed to increase its independence and enhance Pivotal’s corporate governance at this stage of the Company’s development.
Dr. Jackowski has stepped down as Chairman of Pivotal Therapeutics Inc. effective May 13, 2014 but remains a director and the Chief Scientific Officer of the Company and will continue to leverage his wealth of experience and contacts in the biotechnology and pharmaceutical industry to advance Pivotal’s clinical, R&D and business development activities.
John S. Gebhardt, an independent director of the Company, has been appointed as non-executive Chairman to fill the vacancy. A member of Pivotal’s Board of Directors since 2011, Mr. Gebhardt has over thirty years of experience in the financial and securities industry. A former Managing Director at Knight Capital Group, Mr. Gebhardt also worked at PaineWebber for over 20 years where he was a Managing Director, prior to it becoming part of UBS Financial Services. Mr. Gebhardt has also been involved in extensive public service serving on a public school board for 12 years and currently serving on the Board of Directors of both his county’s Boys & Girls Clubs, as well as the Educational Foundation of Osceola County, and is currently serving as an elected public official in the State of Florida.
Dr. Jackowski commented, “On behalf of my fellow directors, I would like to congratulate John on his appointment as Chairman. The Company has benefited from his insights and guidance over the years and we look forward to continuing to work closely with him on the Board. We believe that this recent change demonstrates that management and the Board continues to act in the best interest of shareholders and other stakeholders.”
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.
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