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Navidea Biopharmaceuticals Regains Direct Control of Intellectual Property

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On June 12, 2019, Vice Chancellor Joseph Slights of the Court of
Chancery of the State of Delaware issued an oral ruling granting the
motion of Macrophage Therapeutics, Inc. ("MT"), a subsidiary of Navidea
Biopharmaceuticals, Inc. (NYSE:NAVB) ("Navidea" or the
"Company"), to declare as void certain transactions putatively
authorized by MT's former Chief Executive Officer, Dr. Michael Goldberg
("Dr. Goldberg"), pursuant to which Dr. Goldberg purported to transfer
certain of Navidea's intellectual property rights (which had been
assigned to MT) to a company controlled by Dr. Goldberg.

On February 20, 2019, upon learning of those purported transactions, MT
initiated a suit against Dr. Goldberg in the Court of Chancery of the
State of Delaware, alleging, among other things, breach of fiduciary
duty as a director and officer of MT and conversion, and to obtain a
declaratory judgment that the transactions Dr. Goldberg purportedly
caused MT to effect are void. The Court found that Dr. Goldberg's
actions were not authorized in compliance with the Delaware General
Corporate Law. Specifically, the Court found that Dr. Goldberg's
creation of a new subsidiary of MT and the purported assignment by Dr.
Goldberg of MT's intellectual property to that subsidiary were void. The
Court's ruling follows the Court's order on May 23, 2019 in the case, in
which it found Dr. Goldberg in contempt of its prior order holding Dr.
Goldberg responsible for the payment of MT's fees and costs to cure the
damages caused by Dr. Goldberg's contempt. MT's claims for breach of
fiduciary duty and conversation against Dr. Goldberg remain pending.

As a result of the Court's ruling and Navidea's prior termination of the
sub-license between itself and MT, all of the intellectual property
related to the Manocept platform is now directly controlled by Navidea.

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 Tc99m tilmanocept, the first product developed and
commercialized by Navidea based on the platform. 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 press 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. Forward looking
statements include: (i) our intentions to offer and sell securities in
underwritten public offering, including the grant of an option period to
our underwriter; (ii) our expectations for the use of proceeds received
from the offering; and (iii) our intentions to file the preliminary
prospectus supplement and accompanying base prospectus with the SEC.
These forward-looking statements are subject to a number of risks,
uncertainties and assumptions, including, among other things: whether or
not the Company will be able to raise capital through the sale of its
shares of common stock, the final terms of the proposed offering, market
and other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United States or
internationally, any future actions by Platinum-Montaur; general
economic and business conditions, both nationally and in our markets;
our history of losses and uncertainty of future profitability; the final
outcome of any pending litigation; 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;
our ability to comply with the NYSE American continued listing
standards; our ability to maintain effective internal control over
financial reporting; and other risk factors detailed in our most recent
Annual Report on Form 10-K and other SEC filings. There can be no
assurance that the Company will be able to complete the proposed public
offering on the anticipated terms, or at all. You are urged to carefully
review and consider the disclosures found in our SEC filings, which are
available at http://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
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 press release, except as required by applicable law. In
light of these risks and uncertainties, the forward-looking events and
circumstances discussed in this press release may not occur and actual
results could differ materially from those anticipated or implied in the
forward-looking statements.

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