Navidea, Macrophage Offer Business Update

Navidea Biopharmaceuticals, Inc. (NYSE MKT:

) announces a conference call on Monday, April 18, 2016 at 4:30 p.m. ET to update the market on recent events. The recent changes to the board provide Navidea with an opportunity to refocus its efforts and to develop a strategic plan that takes maximum advantage of its Manocept™ macrophage targeting technology for immunodiagnostic and immunotherapeutic applications. Lymphoseek® (technetium Tc 99m tilmanocept) injection represents the first of many potential products that can be developed with this technology. In addition, Lymphoseek, which is currently approved in the U.S. and Europe to guide sentinel lymph node biopsy in breast cancer, melanoma, and oral cavity cancers and in the U.S. for use in solid tumors where lymphatic mapping is a component of surgical management, is being explored for additional immunodiagnostic uses including rheumatoid arthritis as the initial target and ultimately for other autoimmune and inflammatory conditions including cardiovascular disease, infectious diseases and a number of other potential indications. On the immunotherapeutic side there has been significant progress and with the changes at the board level, we are committed to providing the necessary support to enable this effort to achieve its potential. To achieve our ambitious goals our immediate objective is to right size our expenses to our current revenues so that we attain positive operational cash flow, based on our current revenue stream. Given our projected revenue growth and profitability and a renegotiated distribution agreement following its expiration in less than 2 years, we believe that our ability to refinance our existing senior debt with improved terms is very likely. In addition we will present an update on the very significant progress that has occurred at Macrophage Therapeutics, the immunotherapeutic-focused subsidiary of Navidea. Over the past six months we have successfully developed new chemical synthetic processes for the synthesis of the first two therapeutic products. These compounds have appropriate purity and have demonstrated high affinity binding to the CD206 (mannose receptor) target. Two different contract manufacturing organizations have successfully produced the materials and there are plans for GMP scale-up as the programs move forward. We have also completed a number of animal studies with our intended anti-inflammatory compound and are in the process of completing dosing in a number of additional animal studies with either our anti-inflammatory compound or our compound designed to destroy via apoptosis disease causing macrophages. We are also in the process of initiating several animal in vivo tumor model studies to investigate the ability to deplete Tumor Associated Macrophages (TAMs) and initiate cancer cell death. As we stated when we created Macrophage Therapeutics, we will be pursuing a partnership model, as we look to explore the many potential uses for this technology in parallel. We have successfully introduced the technology to multiple large pharmaceutical and biotechnology companies and it is our intent to pursue development deals based on their review of the data we are currently generating. We have recently initiated the first collaboration with a large pharmaceutical company that is testing one of our compounds in various anti-inflammatory studies. We will review the current state of affairs at Macrophage Therapeutics on Monday's call. Finally we are eager to open the call to Navidea investors and potential investors. We will devote a substantial portion of the call to Q&A as we want to make certain we address the subjects that are important to investors. We plan to discuss the progress of this promising technology during regularly scheduled Macrophage Therapeutics update calls as we appreciate the value of improving communication with investors and prospective investors. Conference Call Details Investors and the public are invited to access the live audio webcast through the link below. Participants who would like to ask questions during the question and answer session must participate by telephone also. Participants are encouraged to log-in and/or dial-in fifteen minutes before the conference call begins. The webcast replay is expected to be available on our investor website, http://ir.navidea.com, approximately two to four hours after the live event. Event: Navidea and Macrophage Therapeutics Business Update Call Date/Time: Monday, April 18, 2016 at 4:30 p.m. ET Webcast Link: http://edge.media-server.com/m/p/e2rzwvkp Dial-in Number – US: (855) 897-5884 Dial in Number – Int'l: (720) 634-2940 Participant Passcode: 93499436 Replay A webcast replay will be available on the Investor Relations section of our website at http://ir.navidea.com for 30 days.