Avivagen Inc. (VIV:TSX.V; CHEXF:OTCMKTS) announced in a news release it engaged COFCO Biotechnology Co.'s research subsidiary (COFCO) to assist with the approval process to sell OxC-beta Livestock in China for use with broiler chickens.
COFCO Biotechnology will assist Avivagen with all of the approval process components, including protocol design for the required trials of OxC-beta Livestock, an antibiotics-free feed additive.
COFCO supplies agri-products to the Chinese market and generated more than $17.5 billion from sales in 2018. "COFCO has highly respected leadership in the regulatory process," Avivagen CEO Kym Anthony said in the release.
"We are confident that we will obtain the necessary approvals to offer OxC-beta Livestock in China, creating a considerable sales opportunity in this massive market."
China is the world's largest feed market. Currently, the government there intends to prohibit the inclusion of any antibiotics in livestock feed by July 2020, according to COFCO.
"With the majority of Asia moving to ban all in-feed antibiotics as growth promoters in livestock, we are positioned strongly to capitalize on the region's growing desire for safer and more effective alternatives," added Anthony.
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