Business
Avivagen Inc. Announces Results for Fiscal Year Ending October 31, 2020
Avivagen Inc. Announces Results for Fiscal Year Ending October 31, 2020.
About this update from Avivagen, Inc.
[{"type":"text","content":"\nAvivagen Inc. (TSXV:VIV, OTCQB:VIVXF) (“Avivagen” or the “Company”) today reported its audited financial results for the fiscal year ended October 31, 2020. Unless otherwise noted, all figures are in Canadian currency.\n\n“By all measures, Avivagen achieved considerable regulatory, customer, corporate and financial success in 2020,” said Kym Anthony, President and Chief Executive Officer, Avivagen Inc. “We’ve secured record breaking orders for OxC-beta from customers in established markets and received regulatory approval in key markets in Asia and South America. The successes achieved this year position Avivagen very strongly for continued growth worldwide, as we grow recurring order sizes and add new customers and partners in important feed production markets around the globe.”\n\nHighlights from Avivagen’s fiscal 2020 include:\n\nRegulatory Milestones\n\n\nSecured approval for OxC-beta™ Livestock in Malaysia on December 5, 2019. Malaysia had an estimated total annual feed production of 4.8 million metric tonnes in 2019.\n\n\nSigned agreement with COFCO Biotech on December 19, 2019 to support approval process efforts in China. COFCO is a leading supplier of agri-products to the Chinese market, with more than $17.5 billion in annual sales in 2018.\n\n\nSecured approval in Brazil on June 24, 2020. Brazil is the world’s third largest feed production market, and a key exporter to regions such as Europe and China that have implemented bans against the use of antibiotics in livestock feed.\n\n\nCustomer Milestones\n\n\nSecured first order in Malaysia on December 12, 2019, only a week after receiving regulatory approval in the country.\n\n\nSecured first order in Mexico, by Industrias Melder, on March 25, 2020.\n\n\nSecured new sales of OxC-beta™ Livestock in Taiwan and Thailand on April 2, 2020. Avivagen followed those sales with the Company’s largest sales order to date - a three tonne order by UNAHCO in the Philippines - less than a week later.\n\n\nMexico-based customer, Industrias Melder placed orders totaling two tonnes by May 20, 2020, following the positive results of two tests conducted by a key dairy farm client.\n\n\nSecured first order for 125kg from Look Chemicals, Avivagen’s distribution partner in Brazil, on August 12, 2020.\n\n...