OTTAWA, ONTARIO, March 11, 2013 - Avivagen Inc. (TSXV:VIV), a
wellness company committed to developing and delivering products
that support and improve the health and quality of life for animals
and the people who care for them, is pleased to announce th its at
Board of Directors has appointed Cameron Groome as Chief Executive
Officer and President and will be nominating Mr. Groome for
appointment to the Board of Directors at Avivagen's next Annual
General Meeting of Shareholders.
Cameron Groome is a life sciences business and finance leader
with over 20 years of experience as a senior executive, investment
banker, equity analyst, strategic advisor and corporate board
member. Among the hallmarks of Cameron's career are the capacities
to identify development-stage products with legitimate commercial
viability, to oversee programs to validate efficacy and safety, and
to negotiate mutually-beneficial business agreements. In Cameron's
prior executive role, he led multiple product, partnering and
financing transactions with a cash value of more than $100 million.
More details about Mr. Groome's qualifications are provided
below.
Mr. Groome's appointment represents the implementation of a
planned and open leadership transition, which was sought not just
by the Board of Directors, but also by current management - based
on the recognition that the next phase of Avivagen's growth will be
based on increasing revenues through expanded distribution and
partnering, the launch of additional products and a focus on
capital markets activities, among other necessary goals.
Mr. David Hankinson, who is succeeded by Cameron in the CEO
role, is committed to supporting Cameron and Avivagen in achieving
the next level of success by accepting the newly-created role of
Executive Director. Mr. Hankinson observed "Dog owners are already
experiencing the benefits of our first commercial product and we
look forward to developing and bringing about new companion and
food animal formulations over the coming quarters. While I was CEO,
Avivagen launched its first commercial product and signed its first
international distribution agreement with a large and reputable
animal health company. Now that we have a solid foundation in
place, I'm excited to transition this role to Cameron and work
closely with him in support of our existing commercial
relationships and continuing to provide marketing strategy and
insight for new, upcoming products."
Dr. Graham Burton is succeeded by Mr. Groome in the role of
President and will now be taking-on the newly-created role of
Director of Commercialization Science. Dr. Burton, Co-founder of
Avivagen and discoverer of the OxC-Beta technology, said "I've
never been more excited about the potential of OxC-beta animal
health products and I look forward to supporting our team in
realizing their value through the rigorous science that supports
our commercial activities. We are currently preparing peer-reviewed
publications that will illustrate the scientific foundations of the
OxC-Beta technology and the rationale for multiple products. I'm
deeply committed to proving the utility of our products and am
proud that we've been able to recruit Cameron to help fulfill our
company's evolving leadership needs."
Mr. Jacques Brault, Chairman of Avivagen said "On behalf of the
Board, we are pleased to identify a qualified and dynamic new Chief
Executive Officer, President and Director. This succession will
help Avivagen to accelerate its growth and we welcome Cameron in
taking on these responsibilities." He then added "We also thank
Graham and David for their invaluable work in advancing Avivagen to
this exciting point and are delighted with their continuing
commitments."
Mr. Groome said "The Board has mandated me to take Avivagen into
profitability by realizing the potential of its OxC-beta products
and further exceptional animal health opportunities. We intend to
create extraordinary shareholder value by implementing our business
plans in a disciplined and ethical manner."
About Cameron Groome
Previously, Cameron was Executive Vice President, Corporate and
Strategic Development for Bioniche Life Sciences Inc., an animal
and human health firm, where he led multiple product, partnering
and financing transactions with a cash value of more than $100
million.
In prior roles, Cameron served as Director of Investment Banking
for Blackmont Capital, as Managing Director, Corporate and
Investment Banking for National Bank Financial and as an Equity
Research Analyst for National Bank Financial, First Marathon
Securities and other investment dealers.
Cameron holds a degree in Finance and Marketing, a diploma in
Pure and Applied Sciences and has completed the Partners, Directors
and Senior Officers Course of the Canadian Securities
Institute.
He is a member of the Board of Directors of Microbix Biosystems,
a member of the Life Sciences Advisory Board for Canada's
Department of Foreign Affairs and International Trade and recently
acted as External Advisor to the Board of Directors of Trillium
Therapeutics.
Fluent in English and French, Cameron has often been a keynote
speaker about life sciences investing and management at major
industry conferences.
About Avivagen Inc.
Avivagen Inc. is a publicly-listed life sciences company trading
on the TSX Venture Exchange under the ticker "VIV". The Company's
goal is to develop and deliver scientifically-proven solutions that
can truly benefit companion and food animals by taking advantage of
natural mechanisms for maintaining optimal health. Avivagen's
targeted markets include Pet Wellness and Livestock
Productivity.
The company has sites located in partnership facilities of the
National Research Council of Canada (NRC) - in Ottawa (Chemistry)
and Charlottetown, Prince Edward Island (Nutriscience).
More information can be found at www.avivagen.com.
About OxC-beta
Avivagen's proprietary and patent-protected technology enhances
the body's own systems to maintain and improve health, particularly
by supporting immune function. Avivagen's commercial technology is
Fully-Oxidized Beta-Carotenoids (OxC-Beta).
OxC-Beta compounds occur naturally in vegetation but in minute
amounts. They have been developed to support the health of
companion animals and for use in the global food animal market.
Research results indicate OxC-beta helps support immune
function, which can result in meaningful overall health
improvements. In pets, improvements are seen in overall vitality
and energy, skin, coat and gastrointestinal wellness. Food Animal
benefits include healthier growth, better utilization of feed and
decreased mortality.
The first commercial product launched by Avivagen, Oximunol(TM)
Chewables for dogs of all ages, works with a dog's immune system to
optimize overall health and well-being.
About Oximunol(TM) Chewables - "Optimized Health in a Chewable
Tablet"
Oximunol(TM) is a scientifically formulated chewable tablet that
contains Avivagen's proprietary, patented active ingredient
OxC-beta. Oximunol(TM) Chewables are currently available for dogs
of all ages. The product works with a dog's own immune system to
optimize overall health and well-being.
Forward Looking Statements
This news release includes certain forward-looking statements that
are based upon current expectations, which 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 "will", "anticipate", "believe", "plan", "estimate",
"expect", "intend", and similar expressions. The forward-looking
statements reflect the current expectations of Avivagen Inc.
regarding future results or events. 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. 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.
Cameron Groome
c.groome@avivagen.com
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