Pivotal Therapeutics Closes Financing; Receives Over CDN $7.7 Million to Further VASCAZEN® Commercialization

Woodbridge, Ontario (ots/PRNewswire) -

Pivotal Therapeutics Inc. (OTCQX: PVTTF) (CSE: PVO), a specialty
pharmaceutical company with a focus on Omega-3 therapies, announced
today it has completed its previously announced debt financing
issuing a total of 7,744 units at a price of CDN $1,000 per unit for
total proceeds of CDN $7,743,580. Pivotal experienced greater demand
than anticipated for the Financing and as a result was oversubscribed
by 2,744 units resulting in an increase of $2,743,580 over the CDN
$5,000,000 previously announced. The financing was led by Crossover
Healthcare Fund, LLC, and included Broadfin Capital, LLC and Porter
Capital Management Co.

"This round of financing, combined with the proceeds from the
previous Crossover Healthcare Fund led equity financing, has brought
over CDN $10.4 million in new investor capital to Pivotal," stated
Mrs. Rachelle MacSweeney, President and COO. "The funds put us in a
strong financial position to execute on our near and longer term
growth initiatives towards commercializing VASCAZEN(R). We look
forward to working with our new financial partners to build value at
Pivotal."

Each unit will consist of CDN $1,000 of Convertible Promissory
Notes (the "Note" or "Notes") and warrants to purchase 1,200 shares
of common stock of the Company (the "Warrants"). The maturity of the
Notes is two (2) years from the date of issuance. Investors may
convert their Notes into common shares for CDN $0.20 per share at any
time prior to maturity. The conversion price has been amended to
include a change from CDN $0.25 to CDN $0.20 for each common share of
the Company issued pursuant to the Notes. The Notes will accrue
interest at a rate of 8% per annum. Warrants may be exercised for a
period of 60 months following the date of issuance, at an exercise
price of CDN $0.30 per common share. Summer Street Research Partners
acted as placement agent for the transaction.

The proceeds from the financing are being used to expand sales and
marketing, advance ongoing clinical trials, and for general working
capital, including business development.

The financing will close tomorrow in accordance with the Canadian
Securities Exchange ("the CSE") policies. For more information please
refer to the Company Form 9 Filings on the CSE website
(http://www.thecse.com) for the complete details of the financing.

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(R) 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(R)is a pharmaceutical grade
Omega-3 providing over 90% pure Omega-3 in each capsule for the
maintenance of good health. OMAZEN(R) is a patented product available
for sale and distribution in Canada.

About VASCAZEN(R)

VASCAZEN(R) is currently available in the U.S. as a prescription
only Medical Food specifically formulated for the dietary management
of an Omega-3 deficiency in cardiovascular patients. VASCAZEN(R) is a
>90% pure Omega-3 with a proprietary 6:1 EPA:DHA fatty acid
formulation, protected by a series of both U.S. and foreign patents.

VASCAZEN(R) has been clinically shown to correct an Omega-3
deficiency within eight weeks of treatment with positive concomitant
effects on the lipid profiles, mainly a 48% reduction of
triglycerides and an increase of HDL without negative impact on the
LDL-C lipid profile. VASCAZEN(R)'s results were achieved with a dose
of 3 grams of EPA and DHA per day of a prescription grade, high
purity Omega-3.

Disclosure Notice

The information contained in this document is as of March 04,
2014. This press release contains forward-looking statements. Such
forward-looking statements are subject to a number of risks,
assumptions and uncertainties that could cause Pivotal's actual
results to differ materially from those projected in such
forward-looking statements. These statements can be identified by the
use of words such as "will", "anticipate", "estimate", "expect",
"project", "forecast", "intend", "plan", "believe", "project",
"potential", and similar expressions with any discussion of future
operating or financial performance or events. In particular, factors
that could cause actual results to differ materially from those in
forward looking statements include the following: Pivotal's inability
to obtain additional financing on acceptable terms; growth in costs
and expenses; inability to compete with others who provide comparable
products; risk that the Company's products will not gain widespread
market acceptance; risks relating to the Company's ability to
maintain its CSE listing. Forward-looking statements speak only as of
the date made and are not guarantees of future performance. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements contained in this document as a result of
new information or future events or developments. CSE has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this information.

For further information:
Company Contacts:
Rachelle MacSweeney
President and Chief Operating Officer
Phone: +1-905-856-9797
E-Mail: rmacsweeney@pivotaltherapeutics.us

Kristine DiMatteo
Communications and Public Relations Manager
Phone: +1-905-856-9797 ext. 231
E-Mail: kdimatteo@pivotaltherapeutics.us

http://www.pivotaltherapeutics.us

(PVO. PVTTF)

ots Originaltext: Pivotal Therapeutics Inc
Im Internet recherchierbar: http://www.presseportal.de