Navidea Biopharmaceuticals Appoints Adam Cutler to Board of Directors

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 the
appointment of Adam Cutler to the Company’s board of directors,
effective December 1, 2018.

“We are pleased to welcome Mr. Cutler to Navidea’s board of directors,”
said Mr. Jed A. Latkin, Chief Executive Officer of Navidea. “He will be
a significant asset to the Company, as he has over 20 years of
experience in equity research, investor relations, capital markets,
business development, finance and management consulting. His diverse
perspective will help drive the Company forward through an important
part of our evolution.”

“I am excited to join Navidea’s board of directors and help the Company
advance the business and its novel imaging pipeline,” commented Adam
Cutler. “By applying the underlying technology from the Manocept CD206
targeting platform, Navidea has the potential to make a difference in
the lives of patients by developing next-generation diagnostic agents
and targeted therapies for autoimmune disorders, inflammatory diseases
and an array of other indications.”

Adam Cutler joined Molecular Templates, Inc. as its Chief Financial
Officer in November 2017. Prior, he was Senior Vice President of
Corporate Affairs for Arbutus Biopharma Corporation, where he was
responsible for investor relations and contributed to the company’s
business development and corporate finance efforts from March 2015 to
November 2017. From 2012 to 2015, he was a Managing Director for The
Trout Group LLC and Trout Capital LLC, where he executed financings and
advised public and private life science companies on investor relations
and capital raising strategies. From 2000 to 2012, Mr. Cutler worked as
a biotechnology equity research analyst with Credit Suisse, Canaccord
Genuity, JMP Securities, and Bank of America Securities. He also worked
in healthcare consulting as an Analyst at The Frankel Group and a
Consultant for Ernst Young LLP. He currently serves on the Board of
Directors for Inmed Pharmaceuticals. He earned his Bachelor of Arts
degree in Economics from Brandeis University.

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.

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