Navidea Biopharmaceuticals Announces Patent Extension for Lymphoseek®

DUBLIN, Ohio–(BUSINESS WIRE)–Navidea Biopharmaceuticals, Inc. (NYSE American: NAVB) (“Navidea” or the
“Company”), a company focused on the development of precision
immunodiagnostic agents and immunotherapeutics, today announced that on
November 23, 2018 the U.S. Food and Drug Administration (“FDA”) released
a letter to the U.S. Patent and Trademark Office (“USPTO”) indicating
that the USPTO is allowed to extend the patent duration of U.S. patent
6,409,990 for an additional 5 years or until May 12, 2025.

This patent claims Lymphoseek® (technetium (Tc 99m) tilmanocept) and has
been exclusively licensed with varying geographical and medical
indication coverages to Cardinal Health and Navidea. Allowance of this
patent extension will permit Cardinal Health and Navidea to extend their
exclusive rights to manufacture and commercialize Lymphoseek until the
end of the extended patent term in 2025.

“I am pleased the FDA has taken positive action to extend the Lymphoseek
patent until May 12, 2025,” said Jed Latkin, CEO of Navidea. “We are
excited that this extension allows us to continue advancing the science
as Navidea prepares for the many other indications for which Tilmanocept
can be used.”

About Navidea

Navidea Biopharmaceuticals, Inc. (NYSE American: 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. 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: 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 the CRG
litigation in Texas and Ohio; 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; 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.

Contacts

Navidea Biopharmaceuticals, Inc.
Jed Latkin, CEO, 614-973-7490
jlatkin@navidea.com

Edison
Advisors
Joseph Green, 646-653-7030
jgreen@edisongroup.com