Avivagen Inc VIVXF

Avivagen Announces Approval of OxC-beta™ For Use in Livestoc

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 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.