Avivagen Inc. (TSXV:VIV) (“Avivagen”) has secured a new order
for two metric tons of OxC-betaTM Livestock (“OxC-beta”) from
UNAHCO, its partner in the Philippines. The new order marks the
third multi-metric ton order of OxC-betaTM Livestock by UNAHCO in
the past 10 months, helping the company meet increasing demands
across a growing area of the country. OxC-beta™ Livestock has the
potential to eliminate the use of antibiotics as growth promoters
in livestock feed, a problem requiring an urgent solution and which
represents a multi-million-dollar market opportunity worldwide.
“The Asia-Pacific market represents a significant growth region
for Avivagen and OxC-betaTM Livestock,” said Kym Anthony, Chief
Executive Officer, Avivagen Inc. “This third substantial order by
UNAHCO in the past year shows the steadily increasing demand and
recurring revenue experienced in the region.”
With annual production of nearly 400 million metric tons of
feed, representing more than one-third of the metric ton global
feed market, the Asia-Pacific region is an important growth market
for Avivagen. Avivagen expects this growth within the Asia-Pacific
market to continue as it pursues additional regulatory approvals in
new jurisdictions. Recently Avivagen secured approval for sale of
OxC-beta LivestockTM for certain applications in Mexico and became
eligible to sell OxC-beta LivestockTM in the United States.”
The Philippines is an important feed market, with an estimated
annual feed production of 19 million metric tons for 2019, up
dramatically from 11.75 million metric tons in 2016i. The most
important commercial livestock species in the Philippines are
swine, followed by broiler poultry. Compared to Canada, the
Philippines produces roughly the same amount of both porkii and
broiler poultryiii.
“UNAHCO’s forward-thinking application of OxC-betaTM Livestock
as an ingredient to premixes for sows is further proof that both
new markets and new applications are being explored and adopted,
opening further growth channels for Avivagen both in Asia-Pacific
and worldwide,” added Anthony.
As demonstrated by this growing and recurring order flow and new
areas of application, UNAHCO continues to experience increased
adoption and acceptance of Avivagen’s OxC-beta™ Livestock product.
The success seen by UNAHCO has driven additional interest in
Avivagen and OxC-betaTM Livestock in the region, leading to
numerous in-progress confirmatory trials.
About Avivagen Avivagen is 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. It 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. The contents of the website are expressly
not incorporated by reference in this press release.
About OxC-beta™ Technology and OxC-beta™ Livestock
Avivagen’s OxC-beta™ technology is derived from Avivagen
discoveries about carotenoids, compounds that give certain fruits
and vegetables their bright colours, and is a non-antibiotic means
of maintaining optimal health and growth. OxC-beta™ Livestock is a
proprietary product shown to be effective and economic as an
alternative to the antibiotics commonly added to livestock feeds.
OxC-beta™ Livestock is currently available for sale in the
Philippines, Taiwan, Thailand, New Zealand, Mexico and the U.S.
Avivagen’s OxC-beta™ Livestock product is safe, effective and
could fulfill the global mandate to remove all in-feed antibiotics
as growth promoters. Numerous international livestock trials with
poultry and swine using OxC-beta™ Livestock have proven that the
product performs as well as, and, sometimes, in some aspects,
better than in-feed antibiotics.
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. Statements set out in this news
release relating to the expectation that UNAHCO will continue to
order product at the current rate or increase orders, UNAHCO’s
intention to add OxC-beta™ Livestock as an ingredient to premixes
for sows and during various phases of the swine growth cycle,
inbound inquiries from new customers, expected growth and
increasing demand within the Asia-Pacific market and other markets,
the recurring nature of revenues, the possibility for deployment or
launch of OxC-beta™ Livestock in new jurisdictions around the world
or for it to replace antibiotics in livestock feeds as well as fill
a critical need for health support in certain livestock
applications where antibiotics are precluded, Avivagen’s intention
to accelerate market access and the commercial uptake of its
OxC-beta™ Livestock product and the size of market opportunities
are all forward-looking statements. These 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, UNAHCO is under no obligation
to continue purchasing product from Avivagen or to increase its
purchases and it could cease or reduce its purchases at any time,
inquiries from potential new customers may not result in orders for
Avivagen’s products and field trials underway may not have
anticipated outcomes, demand for Avivagen’s products in the
Asia-Pacific market may not continue to grow and could decline,
Avivagen’s products may not gain market acceptance or regulatory
approval in new jurisdictions or for new applications and may not
be widely accepted as a replacement for antibiotics in livestock
feeds, new market access may not occur in the timeline or manner
expected by Avivagen and the market opportunities may not be as
large as Avivagen anticipates 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.
Copyright © 2019 Avivagen Inc. OxC-beta™ is a trademark of
Avivagen Inc.
i 2019 Alltech Global Feed Survey https://www.alltech.com/feed-survey?utm_campaign=Global%20Feed%20Survey%202019&utm_medium=email&_hsenc=p2ANqtz--AGoETF0zZ1WDoDg0uPrY_0qZrB_xROyGrnogeoEapd6HLPmuxvl-yTAgUTQhhbQMYlyNbHRVbA1iaSrj9T4cveN4kNA&_hsmi=69399865&utm_content=69399865&utm_source=hs_email&hsCtaTracking=d5d0aec5-0ce9-49e1-bbc9-7bd92473609c%7C89cb3f93-de07-4510-957f-6903ca86272c
ii See this link for Canadian swine production:
https://www.statista.com/statistics/273232/net-pork-production-worldwide-by-country/
iii Canada produced 1.2 million metric tonnes of broiler meat in
2017: see reference
https://www.statista.com/statistics/474831/broiler-meat-production-canada/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190826005171/en/
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 Chief Executive Officer 100 Sussex Drive, Ottawa,
Ontario, Canada K1A 0R6 Head Office Phone: 613-949-8164 Website:
www.avivagen.com
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