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Avivagen Finalizes Distribution Agreement with INPHILCO in the Philippines
Avivagen Finalizes Distribution Agreement with INPHILCO in the Philippines.
About this update from Avivagen, Inc.
[{"type":"text","content":"Avivagen Inc. (TSXV:VIV) (“Avivagen”), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely support immune function, promote general health and performance, has entered into a binding distribution agreement with Manila-based INPHILCO, Inc. that will see the company become a new, key distribution partner for OxC-betaTM Livestock in the rapidly growing Philippines market. OxC-beta™ Livestock has the potential to eliminate the use of antibiotics as growth promoters in livestock feed, a problem requiring an urgent solution, and which represents a multi-hundred-million-dollar market opportunity worldwide.The agreement follows the memorandum of understanding entered into between the companies and announced by Avivagen in December 2019. Under the agreement INPHILCO will be able to purchase OxC-betaTM directly from Avivagen and will hold the exclusive rights to sell the product to large integrated feed producers as an ingredient in its premixes and in its standalone form.“We’re very excited to formalize what we expect to be a very successful relationship with INPHILCO, bringing OxC-betaTM Livestock to an even greater segment of the Philippine market,” said Kym Anthony, Chief Executive Officer, Avivagen. “INPHILCO brings a well-earned reputation for high-quality products and deep rooted relationships with both large integrated feed producers and commercial farms to the table, which will set the stage for increased OxC-betaTM Livestock use for both swine and poultry in this very important region.”The Philippines is a fast growing and important feed market, with an estimated annual feed production of 18.2 million metric tons for 2020[i]. Swine and broiler poultry are the most important commercial livestock species in the country, representing approximately 82% of all feed consumption[ii]. Avivagen expects continued growth within the Philippines and across the Asia-Pacific market as new applications of OxC-betaTM are being utilized by a growing number of local partners, and as it pursues additional regulatory approvals in new jurisdictions.About INPHILCOIncorporated in 1962, INPHILCO is one of the oldest local Vet companies in the Philippines, covering poultry, swine, aquaculture, pet and feed mill requirements for anima...