Avivagen has appointed a special committee of the board to review and assess strategic alternatives for the company to maximize stakeholder value going forward. The committee will consider all potential alternatives including the sale, in whole or in part, of the company.
As part of the process to support the review, Avivagen has already implemented certain cost cutting measures including reducing staff and suspending or terminating certain aspects of its consulting arrangements in Asia and Mexico.
Avivagen’s principle product, OxC-beta, is approved for use in animal feeds in 10 countries in Asia, Australia and South America, and is self-affirmed as Generally Regarded as Safe (GRAS) in the U.S.
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