OTTAWA, Ontario, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Avivagen Inc. (TSXV:VIV) (OTC Pink:CHEXF) (“Avivagen” or the “Corporation”), a corporation with a proven and commercially-ready, patent-protected product intended to replace the antibiotics added to livestock feeds as growth promoters, is pleased to announce that its partner in the Philippines, UNAHCO, has confirmed that it is scaling up, effective immediately, the commercial roll out of Avivagen’s OxC-beta™ for Livestock by purchasing a recurring, three-month supply at a time of OxC-beta™ for Livestock, for specific use in swine. This purchase order is for 1,200kg (400kg per month for three months) and will support UNAHCO’s expansion of its commercial roll out of Avivagen’s product. UNAHCO has indicated its intention to continue making such quarterly purchases from Avivagen.
Kym Anthony, Chairman and Interim CEO stated, “This is an important milestone for Avivagen in that we believe that it represents a Real-world commercial adoption of our product that will drive a consistent revenue stream for Avivagen. We have worked closely with UNAHCO, one of the largest feed suppliers in the Philippines, and we are delighted with our working relationship and their decision to adopt our proven product in support of their business.”
OxC-beta™ Livestock is a proprietary product shown to be effective and economic in replacing the antibiotics commonly added to livestock feeds. OxC-beta™ Livestock is currently registered and available for sale in the Philippines, Taiwan and Thailand. The Company intends to accelerate market access and the commercial uptake of its OxC-beta™ Livestock product, an innovative product that has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem that needs an urgent solution and which represents a multi-billion dollar market.
About Avivagen
Avivagen Inc. is a life sciences corporation that has developed a scientifically-proven product for replacing antibiotics in livestock feeds and to otherwise benefit human and animal health. Avivagen is based in partnership facilities of the National Research Council of Canada (NRC) in Ottawa, Ontario and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.
About OxC-beta™ Technology
OxC-beta™ is an intellectual property protected formulation of fully oxidized β-carotene derivatives that has shown some extremely promising benefits for humans and animals alike. According to peer-reviewed, clinical and laboratory studies, OxC-beta™ has been shown to have the unique ability to prime an organism’s innate immune system.
OxC-beta™ Livestock
OxC-beta™ Livestock is a proprietary product shown to be effective and economic in replacing the antibiotics commonly added to livestock feeds. OxC-beta™ Livestock is currently registered and available for sale in the Philippines, Taiwan and Thailand. The Company intends to accelerate market access and the commercial uptake of its OxC-beta™ Livestock product, an innovative product that has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem that needs an urgent solution and which represents a multi-billion dollar market.
Forward Looking Statements
This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements involve risks and uncertainties associated with the business of Avivagen Inc. and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions “aim”, “anticipate”, “appear”, “believe”, “consider”, “could”, “estimate”, “expect”, “if”, “intend”, “goal”, ”helps”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions or opinions of management. Forward—looking statements in this news release include but are not limited to statements about the ability of Avivagen’s products to replace antibiotics; whether UNAHCO will scale up the commercial roll out of OxC-beta™ for Livestock by purchasing a recurring, three-month supply at a time for use in swine; whether UNAHCO will continue making quarterly purchases from Avivagen; whether UNAHCO’s purchases will drive a consistent revenue stream fo Avivagen; Avivagen’s ability to scale up or obtain regulatory approval or commercial success in new jurisdictions; whether the recurring purchase orders discussed above will contribute to Avivagen’s revenues or growth; and/or whether Avivagen’s relationship with UNAHCO will continue and/or to expand.
Avivagen is an early-stage commercialization company which faces significant risks and uncertainties in connection with its business and readers should be cautioned that investors may lose the entire value of their investment. Some of these risks and uncertainties include, but are not limited to, the following: Avivagen’s ability to continue as a going concern; whether the Corporation can expand its global regulatory advisor network in order to gain market approval of OxC-beta™; Avivagen has only one manufacturer of its products and, if that manufacturer cannot produce its products, Avivagen will not be able to find another manufacturer, if at all; whether the Corporation can obtain market approval in additional geographies, if at all; whether discussions will advance with potential strategic partners, if at all; whether the Corporation will achieve additional partnerships or other commercial agreements with potential strategic partners, if at all; whether the Corporation will be successful in augmenting communications with stakeholders; whether the Corporation will be successful in recruiting an executive team that will maximize the value of OxC-beta™ in any markets, if at all; the results of ongoing or future trials of OxC-beta™ may not be positive or sufficiently positive; even if the results of trials are positive, there is no guarantee that Avivagen’s products will be commercially successful or that requisite registrations or regulatory approvals will be obtained or maintained; the timing and results of trials may be delayed or may not be completed at all; whether Avivagen’s patent applications will be issued, if at all; whether Avivagen will be subject to infringement or other claims; whether Avivagen will achieve any of the goals set out in this press release, if at all; whether Avivagen can obtain further commercial and trial alliances in Asia and elsewhere; whether UNAHCO will terminate existing purchase orders or not deliver future expected purchase orders in the frequency expected by Avivagen or at all and intellectual property rights may not be granted, or, if granted, may prove inadequate to protect Avivagen’s inventions.
Readers should also refer to the risk factors in Avivagen’s management’s discussion and analysis for the year ended October 31, 2016 and other securities law filings from time to time all of which are available at www.SEDAR.com. Any of the foregoing risk factors could negatively impact Avivagen’s ability to achieve the matters described in the forward-looking statements contained above as described or at all. Accordingly, readers should not place undue or even any reliance on forward-looking statements. Except as required by law, Avivagen assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright © 2017 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.