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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font-size: 10pt">Date of Report (Date of earliest event reported)</TD>
    <TD STYLE="width: 62%; font-size: 10pt; text-decoration: none; border-bottom: Black 1pt solid; text-align: left; padding-left: 0.36in">August 27, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><U STYLE="text-decoration: none">&#9;NAVIDEA BIOPHARMACEUTICALS, INC.&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">001-35076</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">31-1080091</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(State or other jurisdiction</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Commission</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">of incorporation)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">File Number)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.4pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">425 Metro Place North, Suite 450, Dublin, Ohio</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; border-bottom: Black 1pt solid">43017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 43%">Registrant's telephone number, including area code</TD>
    <TD STYLE="width: 57%; border-bottom: Black 1pt solid; padding-left: 0.36in">(614) 793-7500</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp;&nbsp;&nbsp;Entry into a Material Definitive
Agreement.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On August 27, 2012, Navidea Biopharmaceuticals,
Inc. (the &ldquo;Company&rdquo;) entered into an agreement with Eric K. Rowinsky, M.D., a member of the Company's board of directors,
pursuant to which Dr. Rowinsky will provide the Company with consulting services during the period from August 1, 2012, through
January 31, 2013 (the &ldquo;Consulting Agreement&rdquo;). Either the Company or Dr. Rowinsky may terminate the Consulting Agreement
with ten (10) business days&rsquo; prior written notice to the other. Early termination of the Consulting Agreement by the Company
will not relieve the Company of any liability for payment of fees that accrued prior to the date of termination. Dr. Rowinsky will
perform the following duties pursuant to the terms of the Consulting Agreement: (1) medical, clinical development, strategic support
to business development objectives focusing on new product assessments for in-licensing, M&amp;A prospects and territory deals
pertaining to existing products; (2) clinical development support with a particular focus on Lymphoseek development (Europe/ROW,
current usage of sentinel node mapping/product in melanoma and breast cancer; expansion of studies into head and neck, GI, other
tumor types), RIGS development and new products; (3) assisting with formation of the company's Scientific/Medical Advisory Board
and ad hoc medical advisory groups (e.g. Key Opinion Leader cultivation); and (4) assisting with investor relations, roadshows,
presentations and financings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In exchange for performing the consulting
services, the Consulting Agreement provides for Dr. Rowinsky to receive 13,764 options to purchase common stock of the Company
at an exercise price of $3.61 per share. The options will vest one sixth per month for each month the Consulting Agreement is in
effect. This option grant is intended to represent payment for an average of two (2) days per month of consulting services during
the six month period of the Consulting Agreement, and the Company must pre-approve the rendering of any consulting services in
excess of four days in any given month. In the event that consulting services rendered by Dr. Rowinsky pursuant to the Consulting
Agreement total more than twelve (12) days, the Company will determine an amount of compensation for Dr. Rowinsky for authorized
services at a rate consistent with that otherwise provided for in the Consulting Agreement, payable in cash or stock options, at
the option of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Consulting
Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is attached hereto
as Exhibit&nbsp;10.1 and which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Exhibit</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; font-style: italic; text-align: justify">Number</TD>
    <TD STYLE="width: 89%; font-style: italic; text-align: justify">Exhibit Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1</TD>
    <TD STYLE="text-align: justify">Consulting Services Agreement between Navidea Biopharmaceuticals, Inc. and Eric K. Rowinsky, M.D.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Private Securities
Litigation Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements made by or on behalf of the Company.
Statements contained or incorporated by reference in this Current Report on Form 8-K, which relate to other than strictly historical
facts, such as statements about the Company&rsquo;s plans and strategies, expectations for future financial performance, new and
existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company&rsquo;s products
are forward-looking statements within the meaning of the Act. The words &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;project,&rdquo; and similar expressions identify forward-looking statements that speak only as of
the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to
differ materially from historical or anticipated results due to many factors including, but not limited to, the Company&rsquo;s
continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated
deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition,
limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed
in the Company&rsquo;s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the United
States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;Navidea Biopharmaceuticals, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -3.75pt">Date: August 30, 2012</TD>
    <TD>By:&nbsp;&nbsp;</TD>
    <TD STYLE="text-decoration: underline">/s/ Brent L. Larson&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Brent L. Larson, Senior Vice President and <BR>
&nbsp;&nbsp;&nbsp;Chief
        Financial Officer</P></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 27, 2012
NAVIDEA BIOPHARMACEUTICALS, INC.
(Exact name of registrant as specified in
its charter)
Delaware
001-35076
31-1080091
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
425 Metro Place North, Suite 450, Dublin, Ohio
43017
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(614) 793-7500
(Former name or former address, if changed
since last report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01.   Entry into a Material Definitive
Agreement.
On August 27, 2012, Navidea Biopharmaceuticals,
Inc. (the "Company") entered into an agreement with Eric K. Rowinsky, M.D., a member of the Company's board of directors,
pursuant to which Dr. Rowinsky will provide the Company with consulting services during the period from August 1, 2012, through
January 31, 2013 (the "Consulting Agreement"). Either the Company or Dr. Rowinsky may terminate the Consulting Agreement
with ten (10) business days' prior written notice to the other. Early termination of the Consulting Agreement by the Company
will not relieve the Company of any liability for payment of fees that accrued prior to the date of termination. Dr. Rowinsky will
perform the following duties pursuant to the terms of the Consulting Agreement: (1) medical, clinical development, strategic support
to business development objectives focusing on new product assessments for in-licensing, M&A prospects and territory deals
pertaining to existing products; (2) clinical development support with a particular focus on Lymphoseek development (Europe/ROW,
current usage of sentinel node mapping/product in melanoma and breast cancer; expansion of studies into head and neck, GI, other
tumor types), RIGS development and new products; (3) assisting with formation of the company's Scientific/Medical Advisory Board
and ad hoc medical advisory groups (e.g. Key Opinion Leader cultivation); and (4) assisting with investor relations, roadshows,
presentations and financings.
In exchange for performing the consulting
services, the Consulting Agreement provides for Dr. Rowinsky to receive 13,764 options to purchase common stock of the Company
at an exercise price of $3.61 per share. The options will vest one sixth per month for each month the Consulting Agreement is in
effect. This option grant is intended to represent payment for an average of two (2) days per month of consulting services during
the six month period of the Consulting Agreement, and the Company must pre-approve the rendering of any consulting services in
excess of four days in any given month. In the event that consulting services rendered by Dr. Rowinsky pursuant to the Consulting
Agreement total more than twelve (12) days, the Company will determine an amount of compensation for Dr. Rowinsky for authorized
services at a rate consistent with that otherwise provided for in the Consulting Agreement, payable in cash or stock options, at
the option of the Company.
The foregoing description of the Consulting
Agreement is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is attached hereto
as Exhibit 10.1 and which is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Exhibit Description
10.1
Consulting Services Agreement between Navidea Biopharmaceuticals, Inc. and Eric K. Rowinsky, M.D.
The Private Securities
Litigation Reform Act of 1995 (the Act) provides a safe harbor for forward-looking statements made by or on behalf of the Company.
Statements contained or incorporated by reference in this Current Report on Form 8-K, which relate to other than strictly historical
facts, such as statements about the Company's plans and strategies, expectations for future financial performance, new and
existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company's products
are forward-looking statements within the meaning of the Act. The words "believe," "expect," "anticipate,"
"estimate," "project," and similar expressions identify forward-looking statements that speak only as of
the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to
differ materially from historical or anticipated results due to many factors including, but not limited to, the Company's
continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated
deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition,
limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed
in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other filings with the United
States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking
statements.
2
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Navidea Biopharmaceuticals, Inc.
Date: August 30, 2012
By:
/s/ Brent L. Larson
Brent L. Larson, Senior Vice President and
Chief
        Financial Officer
3