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Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) has received regulatory approval for its oxidized carotenoid-based feed additive in Vietnam, a significant feed market in Southeast Asia. This approval allows Avivagen to tap into a market projected to grow from over 32 MMT in 2020 to more than 35 MMT in the coming years. The product is aimed at swine, poultry, and dairy sectors. Positive results from two research trials conducted in Vietnam underpin the product’s expected impact on health and productivity in livestock.
Positive
Approval secured for oxidized carotenoid-based feed additive in Vietnam, a major feed market in Southeast Asia.
Vietnam's feed consumption is projected to grow from over 32 MMT in 2020 to more than 35 MMT.
Strong growth potential in swine, poultry, and dairy feed segments.
Positive results from two Vietnamese trials support product effectiveness.
Negative
None.
OTTAWA, Ontario--(BUSINESS WIRE)--
Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce that Avivagen’s oxidized carotenoid-based feed additive product has received approval for use in Vietnam.
“We are very excited to secure approval for our product in Vietnam, a critical feed market in Southeast Asia with strong growth potential over the coming years,” says Kym Anthony, Chief Executive Officer, Avivagen. “We continue to make strong in-roads with feed producers across Asia and see considerable opportunity to further grow our presence in the swine and poultry feed markets in Vietnam and across the region.”
Vietnam represents the largest feed market in Southeast Asia according to a report by the US Grains Council, which indicates total annual feed consumption of over 32 MMT in 2020. Additionally, The Grains Council report states that Vietnam is a strong growth market which is expected to surpass 35 MMT of feed within the next few years.i Production within the country is dominated by swine, with feed for swine accounting for approximately 38% of total feed, followed by poultry accounting for 21.6% of total feed. (2020)ii. In addition to swine and poultry Vietnam has a surprisingly large and rapidly growing dairy industry which represents an important third target market segment for use of Avivagen’s product.
“Demand for effective alternatives to antibiotics is growing across all of Southeast Asia,” says Lesley Nernberg, Technical Sales and Marketing Consultant, Asia, Avivagen Inc. “Approval in Vietnam will allow Avivagen to capitalize on a marketplace ready for these types of innovations.”
The use of Avivagen’s product in the Vietnam feed industry is supported by the positive results of two research trials conducted specifically under Vietnamese commercial production conditions. The trials were run in collaboration with the Institute for Animal Sciences for South Vietnam and were conducted with pigs. “The results of these two trials make clear the benefits of Avivagen’s product on improving the health and productivity of piglets. We’re confident that the use of our product in this segment, along with poultry and dairy, will have a significantly positive impact for producers throughout the country,” says Jamie Nickerson, President, Avivagen Inc. “Comparable trials are underway around the world, and we expect many to result in additional regulatory approvals and customer wins over the coming months.”
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. 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, Mexico, Taiwan, New Zealand, Thailand, Brazil, 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 growth and prospects for Avivagen, benefits to Avivagen resulting from receipt of regulatory approval, the benefits to customers from the use of Avivagen’s products, Avivagen’s expectations as to the results of ongoing trials, the potential for additional regulatory approvals and the possibility for OxC-beta™ Livestock to replace antibiotics in livestock feeds as growth promoters are 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’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 as growth promoters in livestock feeds 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:
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
Source: Avivagen Inc.
FAQ
What is Avivagen's recent announcement regarding Vietnam?
Avivagen announced it received approval for its oxidized carotenoid-based feed additive for use in Vietnam.
How significant is the feed market in Vietnam for Avivagen?
Vietnam is the largest feed market in Southeast Asia, with consumption expected to grow significantly.
What impact does the approval have on Avivagen's business?
The approval allows Avivagen to capitalize on a growing market ready for innovative, antibiotic alternatives.
What sectors will benefit from Avivagen's product in Vietnam?
The product targets swine, poultry, and dairy sectors in Vietnam.
What results support Avivagen's product effectiveness?
Positive results from two research trials conducted under Vietnamese commercial conditions support the product's effectiveness.
