Market Overview

Navidea Biopharmaceuticals Announces Closing of a $3 Million Private Placement

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Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) ("Navidea" or the
"Company"), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, announced today closing
of a $3 million private placement. The Company entered into a definitive
securities purchase agreement with an existing investor, John K. Scott,
Jr., pursuant to which the Company received aggregate gross proceeds of
$3 million in exchange for the issuance of 18,320,610 shares of the
Company's common stock, par value $0.001 per share. The securities to be
issued to Mr. Scott will represent approximately 10% of the Company's
outstanding common stock after such issuance. The securities are subject
to a 180-day lock-up and there are no registration rights.

The Company will use the proceeds from the private placement for general
working capital purposes, including, but not limited to, research and
development, and other operating expenses.

"Our family has been a long-term shareholder since 2003 and we now have
confidence in the science, management and the direction of the company.
This is why we have made this investment at this time. Our intent is to
the give the company additional flexibility and stability," stated John
K. Scott, Jr.

"We are very happy that an existing long-term shareholder continues to
show faith in the potential of Navidea as well as the future direction
of the Company led by a new, streamlined management team," commented Mr.
Jed A. Latkin, Chief Executive Officer of Navidea. "The ability to
quickly raise $3 million without having to pay any fees, give any
warrants and at a price near market was an opportunity that the Company
could not pass up. It also gives the Company significant runway to allow
for the planned launch of the confirmatory rheumatoid arthritis study in
the upcoming quarter."

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale
of these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.

About Navidea

Navidea Biopharmaceuticals, Inc. (NYSE:NAVB) is a
biopharmaceutical company focused on the development of precision
immunodiagnostic agents and immunotherapeutics. Navidea is developing
multiple precision-targeted products based on its Manocept™ platform to
enhance patient care by identifying the sites and pathways of disease
and enable better diagnostic accuracy, clinical decision-making, and
targeted treatment. Navidea's Manocept platform is predicated on the
ability to specifically target the CD206 mannose receptor expressed on
activated macrophages. The Manocept platform serves as the molecular
backbone of Tc 99m tilmanocept, the first product developed and
commercialized by Navidea based on the platform. The development
activities of the Manocept immunotherapeutic platform are being
conducted by Navidea in conjunction with its subsidiary, Macrophage
Therapeutics, Inc. Navidea's strategy is to deliver superior growth and
shareholder return by bringing to market novel products and advancing
the Company's pipeline through global partnering and commercialization
efforts.

For more information, please visit www.navidea.com.

Forward-Looking Statements

This release and any oral statements made with respect to the
information contained in this release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. We have based these forward-looking statements largely
on our current expectations and projections about future events and
financial trends affecting the financial condition of our business.
These forward-looking statements are subject to a number of risks,
uncertainties and assumptions, including, among other things: general
economic and business conditions, both nationally and in our markets;
our history of losses and uncertainty of future profitability; the final
outcome of the CRG litigation in Texas; our ability to successfully
complete research and further development of our drug candidates; the
timing, cost and uncertainty of obtaining regulatory approvals of our
drug candidates; our ability to successfully commercialize our drug
candidates; our expectations and estimates concerning future financial
performance, financing plans and the impact of competition; our ability
to raise capital sufficient to fund our development and
commercialization programs; our ability to implement our growth
strategy; anticipated trends in our business; advances in technologies;
and other risk factors detailed in our most recent Annual Report on Form
10-K and other SEC filings. You are urged to carefully review and
consider the disclosures found in our SEC filings, which are available
at 
www.sec.gov or
at 
http://ir.navidea.com.

Investors are urged to consider statements that include the words
"will," "may," "could," "should," "plan," "continue," "designed,"
"goal," "forecast," "future," "believe," "intend," "expect,"
"anticipate," "estimate," "project," and similar expressions, as well as
the negatives of those words or other comparable words, to be uncertain
forward-looking statements.

You are cautioned not to place undue reliance on any forward-looking
statements, any of which could turn out to be incorrect. We undertake no
obligation to update publicly or revise any forward-looking statements,
whether as a result of new information, future events or otherwise after
the date of this report. In light of these risks and uncertainties, the
forward-looking events and circumstances discussed in this report may
not occur and actual results could differ materially from those
anticipated or implied in the forward-looking statements.

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