Avivagen Announces AGM Results and Update to Shareholders

Research, News, and Market Data on Avivagen

Record Year of Progress for OxC-beta™ Adoption Worldwide

• Supply agreement with AB Vista in United States, Brazil and Thailand compliments existing partnerships in Asia and Mexico

• Continued positive animal trial results leading to orders, new customer wins and growing recognition from the scientific community

OTTAWA, Ontario, April 08, 2022–(BUSINESS WIRE)–Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Company”), 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, today announced the results of its annual general meeting of shareholders and highlighted the significant progress made in the Corporation’s efforts to drive further adoption of OxC-beta™ worldwide.

At the Company’s AGM held today, Avivagen’s Corporation’s shareholders voted to support all of the resolutions that came before the meeting. The resolutions included the election of directors and the reappointment of McGovern Hurley LLP as Avivagen’s auditor.

The voting results in respect of the election of directors are detailed below:

“Like every business we’ve had to overcome the challenges that the extended Covid-19 pandemic brought over the past year, but our growth since early 2021 is a testament to the opportunities for OxC-beta™,” says Kym Anthony, Chief Executive Officer, Avivagen. “The past year has seen a series of important milestones, including growth throughout the countries we service in the Americas and Asia, new customer wins and distribution agreements, important leadership appointments and strong recognition from the scientific and investment communities. Avivagen is in its strongest position yet, and we’ve only scratched the surface of the potential for OxC-beta™ adoption.”

The past 12 months have seen a series of key milestones achieved in furthering adoption of OxC-beta™ in markets worldwide, including:

Distribution Agreements and Market Development Efforts

In October 2021, Avivagen struck an eight-year supply agreement with AB Vista, a leading global animal nutrition technology company. The agreement saw AB Vista become the exclusive distributor of OxC-beta™ for use with poultry, swine, ruminants and aquaculture in the United States, Brazil and Thailand, and also presents opportunities to collaborate on development efforts. It is believed that the agreement will drive greater adoption of OxC-beta™ in two of the world’s three largest feed production markets.

In July 2021 Avivagen retained the services of industry leader Lesley Nernberg as a technical sales and marketing consultant focused on accelerating adoption of OxC-beta™ in Asia. Avivagen also secured regulatory approval for use of the Corporation’s oxidized carotenoid-based feed additive product in Vietnam in February 2022, creating new market opportunities.

In February 2021, Avivagen signed an agreement with Meyenberg International Group to expand its OxC-beta™ sales efforts into five Central and South American markets. Meyenberg has been instrumental in securing new customer interest, driving trails of OxC-beta™ locally and finalizing new and recurring sales throughout Mexico, with continued progress in Central and South America.

Record Orders and Large Recurring Customers

In April 2021 Avivagen secured the largest OxC-beta™ order to date (4.4 metric tonnes) with long-standing customer UNAHCO in the Philippines. This was later followed up by another record 6.3 tonne order, as UNAHCO continues to gain market share despite current difficult economic conditions.

The Corporation has also secured and fulfilled first purchase orders with a number of landmark customers over the past year, including sales with a large integrated producer in Asia, and an initial order with a large, influential and industry-leading poultry producer in Mexico. Avivagen believes that the order size and volume of initial orders signals an opportunity for growth in OxC-beta™ adoption over the coming years.

Recognition from the Scientific Community and Trials

The growing interest and demand for new and innovative solutions for replacing AGP’s (Antibiotics as Growth Promoters) in feeds, has led to a number scientific papers from Avivagen being accepted and published in top-tier scientific publications over the past year. Of note, scientific papers written by Avivagen representatives have appeared recently in such esteemed publications as Poultry Science, the British Journal of Nutrition, Food and Chemical Toxicology, the Canadian Journal of Chemistry and the New Zealand Veterinary Journal.

The scientific community is now recognizing what distribution partners and customers have seen firsthand via trials of OxC-beta™ over the past several years – that the safety and utility of using OxC-beta™ in broilers, swine and cows is conclusive. Trials with several AB Vista customers in Brazil are currently underway which, if successful, could lead to a pipeline of new customer activity. Trials by two of Mexico’s most important and influential livestock fed and dairy production associations, Asociación Nacional de Fabricantes de Alimentos Para Consumo Animal. S.C (ANFACA) and Asociación Mexicana de Productores de Alimentos, A.C. (AMEPA), are also underway.

Results from a dairy trial in New Zealand showing positive outcomes for use against sub-clinical mastitis were published in the New Zealand Veterinary Journal and have played a key role in driving purchasing decisions for customers as far away as Mexico. Similar trials with large industry leaders have also returned positive results that are expected to lead to continued adoption over the coming years.

Positive Corporate Developments

Along with continued customer and market success for OxC-beta™, Avivagen has focused on strengthening its leadership and financials over the past year. The Corporation announced the appointment of James (Jamie) Nickerson, PhD as President of Avivagen in January 2022 after 15 years of success in roles supporting the Corporation’s business development and innovation efforts.

Avivagen also completed a bought deal financing of $7.5 million in February 2021, and a private placement of debentures and shares for gross proceeds of $5.678 million in March 2022. The proceeds from the debenture and share offering were used by Avivagen to retire principal and interest outstanding pursuant to existing debentures and for transaction expenses.

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications. By unlocking an overlooked facet of ?-carotene activity, a path has been opened to safely and economically support immune function, thereby promoting general health and performance in animals. Avivagen is a public corporation traded on the TSX Venture and OTCQB® Venture Market exchanges under the symbols VIV and VIVXF, 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 ?-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, Mexico, Philippines, Taiwan, New Zealand, Thailand, 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 market opportunities for the Company, the expectation that Avivagen’s current position positions it for future growth, expectation as to further adoption of or orders for the Company’s products, the possibility that trials underway could lead to additional orders in the future 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, unforeseen factors could limit the growth of the Company and the adoption of its products, customers are under no obligation to make additional orders and may not order increasing quantities of the Company’s products, partnerships may not be as successful as hoped, trials may not be successful or may not lead to additional adoption of the Company’s products, 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, all of which could occur 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.

Copyright © 2022 Avivagen Inc. OxC-beta™ is a trademark of Avivagen Inc.

Contacts

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

PDS Biotechnology Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Research, News, and Market Data on PDS Biotech

FLORHAM PARK, N.J., April 08, 2022 (GLOBE NEWSWIRE) — PDS Biotechnology Corporation (Nasdaq: PDSB), a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer immunotherapies and infectious disease vaccines based on the Company’s proprietary Versamune^® and Infectimune™ T-cell activating technologies, today announced that on April 6, 2022 PDS Biotech granted nonstatutory stock options to (a) Robert Imani, M.D., PhD, PDS Biotech’s Vice President Medical Director to purchase 70,000 shares of PDS Biotech common stock, and (b) Paul Ivany, PDS Biotech’s Senior Director Manufacturing Operations, to purchase 50,000 shares of PDS Biotech’s common stock, in each case, as a material inducement to their employment with PDS Biotech and in accordance with Nasdaq Listing Rule 5635(c)(4) and PDS Biotech’s 2019 Inducement Plan, as amended, which was adopted on June 17, 2019 and provides for the granting of equity awards to new employees of PDS Biotech.

Each stock option has an exercise price of $6.09, the closing price of PDS Biotech’s common stock on April 6, 2022. Each stock option vests over a four-year period, with one-quarter of the shares vesting on the first anniversary of the grant date and the remaining shares vesting monthly over the 36-month period thereafter, subject to continued employment with the company through the applicable vesting dates.

About PDS Biotechnology

PDS Biotech is a clinical-stage immunotherapy company developing a growing pipeline of molecularly targeted cancer and infectious disease immunotherapies based on the Company’s proprietary Versamune^® and Infectimune™ T-cell activating technology platforms. Our Versamune^®-based products have demonstrated the potential to overcome the limitations of current immunotherapy by inducing in vivo, large quantities of high-quality, highly potent polyfunctional tumor specific CD4+ helper and CD8+ killer T-cells. PDS Biotech has developed multiple therapies, based on combinations of Versamune^® and disease-specific antigens, designed to train the immune system to better recognize diseased cells and effectively attack and destroy them. The Company’s pipeline products address various cancers including HPV16-associated cancers (anal, cervical, head and neck, penile, vaginal, vulvar) and breast, colon, lung, prostate and ovarian cancers.

Our Infectimune™ -based vaccines have demonstrated the potential to induce not only robust and durable neutralizing antibody responses, but also powerful T-cell responses including long-lasting memory T-cell responses. To learn more, please visit www.pdsbiotech.com or follow us on Twitter at @PDSBiotech.

Forward Looking Statements

This communication contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning PDS Biotechnology Corporation (the “Company”) and other matters. These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the Company’s management, as well as assumptions made by, and information currently available to, management. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend,” “forecast,” “guidance”, “outlook” and other similar expressions among others. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: the Company’s ability to protect its intellectual property rights; the Company’s anticipated capital requirements, including the Company’s anticipated cash runway and the Company’s current expectations regarding its plans for future equity financings; the Company’s dependence on additional financing to fund its operations and complete the development and commercialization of its product candidates, and the risks that raising such additional capital may restrict the Company’s operations or require the Company to relinquish rights to the Company’s technologies or product candidates; the Company’s limited operating history in the Company’s current line of business, which makes it difficult to evaluate the Company’s prospects, the Company’s business plan or the likelihood of the Company’s successful implementation of such business plan; the timing for the Company or its partners to initiate the planned clinical trials for PDS0101, PDS0203 and other Versamune^® and Infectimune™-based product candidates; the future success of such trials; the successful implementation of the Company’s research and development programs and collaborations, including any collaboration studies concerning PDS0101, PDS0203 and other Versamune^® and Infectimune™-based product candidates and the Company’s interpretation of the results and findings of such programs and collaborations and whether such results are sufficient to support the future success of the Company’s product candidates; the success, timing and cost of the Company’s ongoing clinical trials and anticipated clinical trials for the Company’s current product candidates, including statements regarding the timing of initiation, pace of enrollment and completion of the trials (including the Company’s ability to fully fund its disclosed clinical trials, which assumes no material changes to our currently projected expenses), futility analyses, presentations at conferences and data reported in an abstract, and receipt of interim results (including, without limitation, any preclinical results or data), which are not necessarily indicative of the final results of the Company’s ongoing clinical trials; any Company statements about its understanding of product candidates mechanisms of action and interpretation of preclinical and early clinical results from its clinical development programs and any collaboration studies; and other factors, including legislative, regulatory, political and economic developments not within the Company’s control, including unforeseen circumstances or other disruptions to normal business operations arising from or related to COVID-19. The foregoing review of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors included in the Company’s annual and periodic reports filed with the SEC. The forward-looking statements are made only as of the date of this press release and, except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Versamune^® is a registered trademark and Infectimune™ is a trademark of PDS Biotechnology.

Investor Contact:
Rich Cockrell
CG Capital
Phone: +1 (404) 736-3838
Email: pdsb@cg.capital