Ocugen, Inc. Announces Pricing of $53.5 Million Public Offering of Common Stock

Research, News, and Market Data on Ocugen

MALVERN, Pa., Feb. 22, 2022 (GLOBE NEWSWIRE) — Ocugen, Inc. (Nasdaq: OCGN), a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19, today announced the pricing of its underwritten public offering of approximately 15,973,420 million shares of its common stock for gross proceeds of approximately $53.5 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Ocugen. The offering is expected to close on or about February 25, 2022, subject to customary closing conditions. In addition, Ocugen has granted to the underwriter a 30-day option to purchase up to approximately 2,396,013 million additional shares of its common stock.

Ocugen intends to use the net proceeds from the offering for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.

The underwriter may offer the shares from time to time for sale in one or more transactions on the Nasdaq Capital Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

The offering is being made by Ocugen pursuant to a shelf registration statement on Form S-3ASR previously filed with the Securities and Exchange Commission (the “SEC”) on March 22, 2021, which became automatically effective upon filing with the SEC. A preliminary prospectus supplement related to the offering and the accompanying base prospectus have been filed with the SEC and are available on the website of the SEC at www.sec.gov. Copies of the final prospectus supplement and accompanying base prospectus relating to this offering may be obtained, when available, from Cantor Fitzgerald & Co., Attn: Capital Markets, 499 Park Avenue, 4th floor, New York, NY 10022; Email: prospectus@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Ocugen, Inc.

Ocugen, Inc. is a clinical-stage biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – “one to many” and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema and diabetic retinopathy. We are co-developing Bharat Biotech’s COVAXIN™ vaccine candidate for COVID-19 in the U.S. and Canadian markets.

Cautionary Statement Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. Such forward-looking statements within this press release include, without limitation, statements regarding Ocugen’s expectations regarding the completion of the offering and the anticipated use of proceeds. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from our current expectations, such as market and other conditions. These and other risks and uncertainties are more fully described in our periodic filings with the SEC, including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events or otherwise, after the date of this press release.

Ocugen Contact:
Ken Inchausti
Head, Investor Relations & Communications
IR@Ocugen.com

Avivagen Announces Approval in Vietnam

Research, News, and Market Data on Avivagen

Ottawa, ON /Business Wire/ February 22, 2022 /– 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 ?-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

[i] https://grains.org/markets-tools-data/markets/market-profiles/vietnam/

[ii] https://public.tableau.com/app/profile/alltech.digital/viz/AlltechGlobalFeedSurvey2021/AlltechGlobalFeedSurvey2021

Avivagen Announces Approval in Vietnam

Research, News, and Market Data on Avivagen

Ottawa, ON /Business Wire/ February 22, 2022 /– 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 ?-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

[i] https://grains.org/markets-tools-data/markets/market-profiles/vietnam/

[ii] https://public.tableau.com/app/profile/alltech.digital/viz/AlltechGlobalFeedSurvey2021/AlltechGlobalFeedSurvey2021