Avivagen Announces Foundational Scientific and Commercial Evidence of OxC-Beta Product Published in Peer-Reviewed Journal

Avivagen Inc. (TSXV:VIV, OTCQB:VIVXF) ('Avivagen'), a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that safely enhances feed intake and supports immune function, thereby supporting general health and performance, is pleased to announce that its scientific team has just published a peer-reviewed paper describing the discovery, natural occurrence, scientific significance, commercial livestock applications and safety of OxBC, the active ingredient of OxC-beta Livestock.

The peer-reviewed paper, entitled 'Oxidized -Carotene Is a Novel Phytochemical Immune Modulator That Supports Animal Health and Performance for Antibiotic-Free Production' appears in a special edition of the journal 'Animals' dedicated to the topic of alternatives to antibiotics. The paper reports key scientific evidence regarding OxBC mode of action including the fact that OxBC, unlike antibiotics, does not have any direct anti-bacterial activity and thus does not contribute to the potential rise of antibiotic resistant bacteria.

Commercially salient points reported in the paper include results from multiple research trials with OxC-beta Livestock in poultry, swine, and dairy cows supplemented with low parts-per-million in-feed levels of OxBC showing economically significant benefits over and above those of feeds containing regular vitamin and mineral premixes. The paper also highlights regulatory approvals and successful commercial use in several countries as strong supporting evidence for the safety and viability of OxC-beta Livestock as an alternative for the use of in-feed antibiotics as well as its ability to provide tangible benefits in applications where antibiotic usage is not permitted. Of note, the paper also disclosed that as of mid-2022, OxBC has been used commercially in the form of OxC-betaLivestock in various countries as a feed additive in approximately 16 million piglets, 94,000 sows, and 19.6 million poultry, and as a supplement for 12,000 dairy cows.

About Avivagen

Avivagen is a life sciences corporation focused on developing and commercializing products for livestock, companion animal and human applications that, by safely supporting immune function, promote general health and performance. It is a public corporation traded on the TSX Venture Exchange under the symbol VIV and is headquartered in Ottawa, Canada, based in partnership facilities of the National Research Council of Canada.

About OxC-beta Technology and OxC-beta Livestock

Avivagen's OxC-beta technology is derived from Avivagen discoveries about -carotene and other carotenoids, compounds that give certain fruits and vegetables their bright colours. Through support of immune function the technology provides a non-antibiotic means of promoting health and growth. OxC-beta Livestock is a proprietary product shown to be an effective and economic alternative to the antibiotics commonly added to livestock feeds. The product is currently available for sale in the United States, Philippines, Mexico, Taiwan, New Zealand, Thailand, Brazil, Australia, Vietnam and Malaysia.

Avivagen's OxC-beta Livestock product is safe, effective and could fulfill the global mandate to remove all in-feed antibiotics as growth promoters. Numerous international livestock trials with poultry and swine using OxC-beta Livestock have proven that the product performs as well as, and, sometimes, in some aspects, better than in-feed antibiotics.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon the current expectations of management. Forward-looking statements 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 'aim', 'anticipate', 'appear', 'believe', 'consider', 'could', 'estimate', 'expect', 'if', 'intend', 'goal', 'hope', 'likely', 'may', 'plan', 'possibly', 'potentially', 'pursue', 'seem', 'should', 'whether', 'will', 'would' and similar expressions.

Statements set out in this news release relating to the potential positive impacts expected to arise from the publication of the above-reference article, the future growth and prospects for Avivagen, and the possibility for OxC-beta Livestock to replace antibiotics in livestock feeds as growth promoters are forward-looking statements. 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. For instance, Avivagen's products may not gain market acceptance or regulatory approval in new jurisdictions or for new applications and may not be widely accepted as a replacement for antibiotics as growth promoters in livestock feeds due to many factors, many of which are outside of Avivagen's control. Orders may be cancelled for many reasons outside of Avivagen's control. Readers are referred to the risk factors associated with the business of Avivagen set out in Avivagen's most recent management's discussion and analysis of financial condition available at www.SEDAR.com. Except as required by law, 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.

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