Ottawa, ON / Business Wire / April 2,2020 / – Avivagen Inc. (TSXV:VIV) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhance and support immune function, thereby supporting general health and performance, has signed two orders to purchase to sell OxC-beta™ in Asia. A new flow of orders has been secured with Top Feed, one of Thailand’s leading commercial feed mills, and a purchase order secured with a new client Fwusow, one of Taiwan’s leading feed producers and integrators.
With more than 100 years of experience, Fwusow is a leader in producing food for companion animals including dogs, cats and ornamental fish, as well as livestock. The company’s dog food is the #1 selling brand in Taiwan. Following the purchase Fwusow plans to develop and launch a new line of dog food that will highlight “Powered by OxC-beta” branding on the packaging. Use in Fwusow’s high profile brand of dog food will not only raise industry awareness of the product, it will also facilitate the introduction of OxC-beta into the company’s lines of integrated and commercial livestock feeds in the future.
Originally Avivagen’s first customer in Thailand with its first purchase of OxC-betaTM Livestock in 2018, Top Feed, a high respected producer of poultry and swine feeds has consistently and continuously increased both the frequency and size of its orders. The company’s order frequency and size has grown from 25kgs every six months up to 50kgs each month for the last four months. This significant increase in size and frequency of Top Feed’s orders is typical of the product use trajectory seen with several of our customers, and confirms our strategy of allowing new customers to test small amounts at first, leading to significant increases in use and frequency thereafter.
“We are very excited to be working with two of Asia’s most important companion animal and livestock feed producers, further growing the footprint for OxC-beta in both Thailand and Taiwan,” said Kym Anthony, C.E.O. of Avivagen. “Top Feed has been an important and valued customer for Avivagen for several years, and its consistent growth in both order frequency and size is evidence of the positive impact that OxC-beta Livestock is having as a part of its product line. With Fwusow’s plans for a high-quality new line of dog foods, we expect to build greater brand awareness and preference throughout the companion animal market in Taiwan.”
“Both the success to date with Top Feed in Thailand, and the plans and potential for OxC-beta use in the Taiwanese companion animal and livestock markets through Fwusow, are a very strong reflection of the overall increase in demand, expanding application consideration and growing market opportunity for OxC-beta across Asia,” added Anthony.
Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of β-carotene activity, a path has been opened to safely and economically support immune function, thereby promoting general health and performance in animals. Avivagen 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 β-carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta™ Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Taiwan, New Zealand, Thailand, Mexico, Australia and Malaysia.
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 future plans of Avivagen’s customers and the potential for additional and/or increased orders from such customers, Avivagen’s expectations as to growth of its branding in certain jurisdictions, continued distribution and acceptance of Avivagen’s technology, anticipated growth in demand for Avivagen’s products, the potential for Avivgen’s products to be commercialized in human applications, the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as well as fill a critical need for health support in certain livestock applications where antibiotics are precluded 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, these initial orders may not result in new orders for Avivagen’s products, the customer plans may change due to many reasons, demand for Avivagen’s products may not continue to grow and could decline, Avivagen’s brand recognition may not increase as anticipated or could be impacted by negative events, Avivagen’s products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications, including human 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. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen’s most recent management’s discussion and analysis of financial condition available at www.SEDAR.com. 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:
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Chief Executive Officer
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
Copyright © 2020 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.