Ottawa, ON / TheNewswire / Feb 3 2015 / - Avivagen Inc. (TSXV: VIV, OTC Pink: CHEXF), a wellness company developing and delivering products that support and enhance the health and quality of life for animals and the people who care for them, provides an update on the proof of concept work with its optioned technology for the permanent sterilization of female mammals - targeted to eliminate the need for surgical spaying.
As previously disclosed, this novel technology is intended to be effective for companion animal sterilization, control of feral and wild animal populations and certain livestock applications. It is drug-based and does not use methods described in published literature.
Avivagen has chosen not to disclose the biochemical mode of action of the invention, as so doing could erode its first-mover advantages. Such a disclosure will be made to prospective development partners under strict confidentiality terms and more broadly when a patent application is published by the United States Patent and Trademarks Office (USPTO).
Proof of concept work was conducted by a qualified arms-length contract research organization. The protocol was designed as a pilot efficacy study - designed to test whether drug actives selected by Avivagen and the inventor demonstrated the intended sterilization effects.
The proof of concept work did not demonstrate the intended sterilization effects. Avivagen and the inventor have analyzed the results and believe they may be due to issues with the drug actives, such as pharmacokinetic challenges. Avivagen has taken two actions to address this challenge to the project:
1. It intends to engage a company specializing in pharmaceutical formulations to provide its analyses as to what drug or drug delivery changes may be needed.
2. It has negotiated a 12-month extension of its option to the technology, extending it to June 24, 2016.
Cameron Groome, CEO and President of Avivagen, commented as follows "While we'd hoped to succeed in this recent proof-of-concept work, we continue to believe in this approach and will move forward with determining the path to a successful trial. We intend to update shareholders about our intentions with respect to this technology over the course of 2015."
About Avivagen Inc.
Avivagen Inc. is a publicly-listed life sciences company trading on the TSX Venture Exchange under the ticker symbol "VIV" and on OTC Pink as "CHEXF." The Company's goal is to develop and deliver scientifically-proven solutions that benefit companion and production animals by employing natural mechanisms for maintaining good health. Target markets include Livestock Productivity and Pet Wellness.
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
Avivagen's proprietary and patent-protected technology is based on its discoveries concerning carotenoid antioxidants. The novel natural compounds discovered by Avivagen support the body's own systems to maintain and enhance health, by supporting immune function and calming excess inflammation. Avivagen's commercial-stage application of its technology is Fully-Oxidized beta-Carotene (OxC-beta). OxC-beta compounds occur naturally as carotenoid oxidation products in vegetation, but in minute amounts. They have been developed to support the health of companion animals and for use in the global food animal market.
Research results indicate OxC-beta supports innate immune function and reduces late-stage inflammation, which can help maintain good health. In pets, OxC-beta supports overall vitality and energy, mobility and joint function, skin, coat and gut. Results observed in food animals have included healthier growth, more efficient utilization of feed and decreased morbidity. In food animals, it is intended that use of OxC-beta avoids the feeding of antibiotics. Avivagen's commercial products are OxC-beta(TM) Livestock, Vivamune(TM) Health Chews and Oximunol(TM) Chewables.
About OxC-beta(TM) Livestock
OxC-beta(TM)Livestock is available as a 10% pre-mix sold in 1.0 or 5.0 Kg quantities for parts-per-million addition to animal feeds, in accordance with Avivagen or producer-developed protocols. In past studies, OxC-beta(TM) Livestock has been shown to support health or growth in species such as chicken, pigs, cattle and fish. OxC-beta(TM) Livestock is currently available for commercial sale in the Kingdom of Thailand.
About Vivamune(TM) Health Chews - For dogs and cats
Vivamune(TM) Health Chews, containing Avivagen's proprietary active ingredients, are scientifically-formulated chews for dogs and cats. Vivamune(TM) Health Chews work with a pet's own immune system to maintain overall health and well-being. They are sold in re-sealable packages of 30 chews and are currently available in the United States by ordering on-line at www.vivamunehealth.com.
About Oximunol(TM) Chewables - For dogs
Oximunol(TM) Chewables are scientifically-formulated chewable tablets that contain Avivagen's proprietary, patented active ingredient OxC-beta. OxC-beta has been shown to stimulate innate cellular immunity and may thereby help to maintain overall health and well-being. Oximunol(TM) Chewables are distributed by Bayer Healthcare LLC and are available through veterinarians for dogs of all ages in the United States.
Permanent Non-Surgical Sterilization of Female Mammals
Avivagen has optioned worldwide exclusive rights to a technology for the permanent and non-surgical sterilization of female mammals. Proof-of-concept work is ongoing - in order to demonstrate whether the technology appears to be safe and effective. It is expected that a patent application covering World Trade Organization countries will be pursued and that further information will be made available when that patent application is published or as otherwise deemed prudent or required.
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", "could", "estimate", "expect", "if", "intend", "goal", "hope", "likely", "may", "plan", "possibly", "potentially", "seem", "should", "whether", "will", "would" and similar expressions. Statements about uses of the technologies described in this news release, including their importance to animal or human health, their novelty, safety, efficacy or affordability and whether technical hurdles will be successfully addressed, 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. Such Avivagen risks and uncertainties include, but are not limited to, the following: its ability to continue as a going concern; the results of ongoing livestock trials may not be positive or sufficiently positive; even if the results of livestock trials are positive, there is no guarantee that its products will be commercially successful or that requisite regulatory approvals will be obtained; the timing and results of livestock trials may be delayed or may not be completed at all; and intellectual property rights may prove inadequate to protect its inventions. Accordingly, readers should not place undue 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.
For more information:
Avivagen Inc.
Cameron Groome, CEO & President
100 Sussex Drive
Ottawa, Ontario
Canada K1A 0R6
Head Office Phone: 613-949-8164
Website: www.avivagen.com
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