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.
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.
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