Avivagen to Pursue Business Opportunities for Combining Its Proprietary OxC-beta™ with Cannabis Products
OTTAWA, Ontario--(BUSINESS WIRE)--Apr 3, 2019--Avivagen Inc. (TSXV:VIV) (“Avivagen”, or the “Corporation”) is pleased to announce that it has begun to explore the combination of Avivagen’s proprietary OxC-beta™ product with licensed cannabis products. Recently Avivagen has received inbound expressions of interest in exploring such product combinations from multiple, large integrated licensed producers of cannabis. Based on the inbound interest, Avivagen has conducted preliminary business analysis and believes that there are various combinations which could result in attractive product profiles, including based on distinct mechanisms of action between cannabis-based products and Avivagen’s OxC-beta™.
Avivagen’s executive team is launching a systematic effort to explore partnerships or other business collaborations for the development of combination products in companion animal and in various other markets. Further research and development will be required to confirm viable combinations, but it is anticipated that product combinations with OxC-beta™ may include hemp, cannabinoids, synthetic products, oils and extracts and other potential combinations of CBD and THC-based products. Avivagen does not have or intend to apply for any cannabis licenses and will seek partners who already have the appropriate licenses to explore the appropriate research necessary to bring these new, potential innovative product combinations to market. Avivagen will only seek to partner with cannabis producers who are operating legally in Canada or elsewhere and any resulting products will only be offered for sale where such sale is legal at all levels.
“We are enthusiastic about working with leading edge cannabis companies and participating in their development of a line of products which incorporate our unique OxC-beta™ technology,” says Kym Anthony, Chairman and Interim CEO, Avivagen. “We have been vocal advocates for the benefits of new product categories and look forward to collaborating with these large, well-resourced and innovative companies to bring these innovative products to the worldwide market, where appropriate.”
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 in replacing the antibiotics commonly added to livestock feeds. OxC-beta™ Livestock is currently registered and available for sale in the Philippines, Taiwan, New Zealand and Thailand.
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.
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, Canada, Philippines and Taiwan. 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. Statements set out in this news release relating to the possibility that Avivagen will partner with existing licensed producers and the types and caliber of producers that Avivagen might work with, the possibility for OxC-beta™ to be combined with cannabis in a way that results in a viable product that will receive regulatory or market acceptance and the potential types of product combinations 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, Avivagen currently has no binding agreements with any producer of cannabis and there can be no assurances that it will be able to reach such agreements in a timely manner or at all, additional research and development is required to confirm viable combinations of Avivagen’s products with cannabis and such research and development may not have positive results or may not have the benefits anticipated, the cannabis industry is highly regulated and combination products will be subject to specific requirements and require regulatory approvals, Avivagen’s products may not be able to gain market acceptance or regulatory approval necessary to be commercially sold as viable products, Avivagen’s entry into this market is just beginning and Avivagen is not currently able to estimate the time or costs that will be required to take advantage of this opportunity, 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.
Information as to market size if various jurisdictions is sourced by Avivagen from third parties. While Avivagen believes such third-party sources to be reliable, it has not independently verified such information and readers should not place undue weight on such information.
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.
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CONTACT: Avivagen Inc.
Director of Investor Relations
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Chairman & Interim CEO
100 Sussex Drive, Ottawa, Ontario, Canada K1A 0R6
Head Office Phone: 613-949-8164
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL RESEARCH SCIENCE
SOURCE: Avivagen Inc.
Copyright Business Wire 2019.
PUB: 04/03/2019 07:30 AM/DISC: 04/03/2019 07:31 AM