OTTAWA, May 30, 2018 (GLOBE NEWSWIRE) -- Avivagen Inc. (TSXV:VIV) (“Avivagen” or the “Corporation”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance, is pleased to announce that it has received GRAS (Generally Regarded As Safe) regulatory approval for OxC-beta™ for use in livestock in New Zealand.
New Zealand is known throughout the world for its highly regarded reputation for producing premium agricultural products and it is a significant exporter of dairy and dairy products, as well as beef. According to government statistics, New Zealand has about 6.5 million dairy cows, a number approximately 70% of the U.S. and 50% of the Chinese herd size. New Zealand represents an attractive opportunity for Avivagen’s OxC-beta™ product and is Avivagen’s first product approval outside of Asia. Avivagen intends to leverage this approval in other jurisdictions as New Zealand is often viewed as the regulatory “gold standard” upon which other nations often take their regulatory guidance.
“We view this as a significant event for Avivagen as the core goal for Avivagen this year is to gain more access for OxC-Beta™ to be sold and to find partners to drive those sales. New Zealand is a premium market and we will leverage this to build further momentum for country approvals and driving new sales for our shareholders,” stated Mr. Kym Anthony, Chairman and Interim CEO of Avivagen.
About Avivagen
Avivagen Inc. is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada and Charlottetown, Prince Edward Island. For more information, visit www.avivagen.com.
About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology arises from Avivagen’s discoveries about carotenoids, compounds that give certain fruits and vegetables their bright colors. Specifically, Avivagen has discovered the naturally occurring compound that is the actual source of β-carotene’s non-vitamin A activity and uses the synthetic version of the compound as the source of activity of Avivagen’s OxC-beta™ products. Importantly, the OxC-beta™ compound is a non-antibiotic means of maintaining optimal health and growth. 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.
About Vivamune™ Health Chews (Vivamune)
Vivamune is an all-in-one chew that can dramatically simplify a pet’s supplement routine. Featuring a newly-discovered, novel immune-supporting active ingredient, OxC-beta™, Vivamune targets joints, skin and digestive health all in a single, tasty chew a pet will love. Vivamune is available for sale in the United States. For more information, visit www.vivamunehealth.com.
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”, “hope”, “likely”, “may”, “plan”, “possibly”, “potentially”, “pursue”, “seem”, “should”, “whether”, “will”, “would” and similar expressions. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. For instance, Avivagen’s receipt of regulatory approval in New Zealand may not have the anticipated effects on Avivagen Inc.’s ability to obtain regulatory approval in other jurisdictions or on Avivagen Inc.’s sales due to many factors, many of which are outside of Avivagen’s control. 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.
For more information:
Avivagen Inc.
Drew Basek
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Phone: 416-540-0733
E-mail: d.basek@avivagen.com
Kym Anthony
Chairman & Interim CEO
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com
Copyright © 2018 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.