Avivagen Inc. (VIV:TSX.V; CHEXF:OTCMKTS) announced in a news release it signed a memorandum of understanding (MOU) with INPHILCO for it to distribute Avivagen's OxC-beta™ Livestock in the Philippines.
The MOU represents the start of negotiating a binding definitive agreement between the two companies, which they both expect to reach and sign in the next two months.
Under the MOU, INPHILCO will sell the non-antibiotic feed additive for swine and poultry to large integrated feed producers in two ways. One is as part of INPHILCO'S premix offerings. The other is as a standalone product and to commercial farms throughout the country.
"INPHILCO's deep rooted relationships with both large integrated feed producers and commercial farms, along with its well-earned reputation for high quality feed premixes, provide an opportunity for OxC-beta Livestock use for both swine and poultry to grow in the Philippines over the coming years," Avivagen CEO Kym Anthony said in the release.
In other news, Avivagen is finalizing the rights to sell OxC-beta Livestock directly to Quezon City-based Universal Robina Corp., a large producer of integrated livestock branded consumer foods and beverages. Universal Robina's Agro-Industrial and Commodity Food Groups, a major pork and poultry producer in the Philippines, is currently testing OxC-beta Livestock in its integrated feed for use in its swine operations.
"When signed, these important new agreements with INPHILCO and Universal Robina will help OxC-beta Livestock reach an even greater segment of the Philippine feed market," Anthony added.
"Avivagen expects growth within the Asia-Pacific market to accelerate in 2020 and beyond as new applications of OxC-beta are being utilized by a growing number of local partners, and as it pursues additional regulatory approvals in new jurisdictions," the company stated. The company recently secured approval for OxC-beta Livestock for specific applications in Taiwan, Mexico, Malaysia and the United States.
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