Subscribe
Be the first with the news that moves the market- Avivagen Inc (TSXV:VIV) has secured new purchase orders for the company’s OxC-beta product in Asia
- One of Thailand’s leading commercial feed mills, Top Feed, is increasing the size and frequency of its orders with Avivagen
- New company client Fwusow, a Taiwanese feed producer, has also made a purchase order
- Avivagen Inc (VIV) is up 1.56 per cent, and is currently trading for $0.65 per share
Life sciences company, Avivagen Inc (TSXV:VIV) has received new purchase-to-sell orders for its OxC-beta product in Taiwan and Thailand.
The orders came from the Thai commercial feed mill Top Feed, and the Taiwanese feed producer Fwusow.
Top Feed, a highly-respected producer of poultry and swine feeds, was originally Avivagen’s first customer in Thailand. Since 2018, the leading feed mill has been purchasing OxC-beta Livestock, the company’s antibiotic alternative compound.
In the last four months, Top Feed has consistently increased the frequency and size of its OxC-beta orders. As a result, its purchase orders have grown from 25 kilograms every six months to 50 kilograms every month.
This performance is typical of product use trajectories that the company has seen with several other customers. It also endorses Avivagen’s strategy of having new customers test small amounts first, which eventually leads to significant increases later.
Avivagen’s new client, Fwusow, is one of Taiwan’s leading feed producers and integrators. The company produces food for pets and livestock, and makes the number one selling dog food brand in Taiwan.
With its first purchase order of OxC-beta, Fwusow plans to develop and launch a new line of dog food. The line will have “Powered by OxC-beta” branding on all packaging, which will raise industry awareness about the product.
Avivagen expects that this first step will also facilitate the introduction of OxC-beta Livestock into Fwusow’s livestock feeds in future.
Avivagen’s CEO, Kym Anthony, said that the company was eager to further grow OxC-beta’s footprint in both Thailand and Taiwan.
“Top Feed has been an important and valued customer for Avivagen for several years. Its consistent growth in order frequency and size is evidence of the positive impact that OxC-beta Livestock is having as a part of its product line.
“With Fwusow’s plans for a high-quality new line of dog foods, we expect to build greater brand awareness and preference throughout the companion animal market in Taiwan,” he said.
Avivagen Inc (VIV) is up 1.56 per cent, and trading for $0.65 per share, as of 11:08am EST.
