PetVivo’s Merger Partner Strengthens Canadian IP Portfolio with Stent Patent Allowance
MINNEAPOLIS, MN March 9th, 2015 PetVivo Holdings, Inc. (OTCPINK:PETV) an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices and therapeutics for pets is pleased to announce that the patent portfolio of its merging partner Gel-Del Technologies, Inc. has grown to eighteen allowed patents, with an additional eighteen patent applications pending in the US and strategic foreign countries. PetVivo Holdings and Gel-Del Technologies previously announced that they entered into a definitive stock exchange agreement that is scheduled to close by March 31, 2015.
PetVivo CEO John Lai noted, “While the pending launch of our Kush™ device for the treatment of osteoarthritis in companion animals remains our first priority we are very pleased with the continued expansion of Gel-Del’s intellectual property portfolio. We see many opportunities for introducing our tubular conduit devices and coated stents to provide first-mover advantages in both the veterinary and clinical sectors.”
Titled “Encapsulated or Coated Stent Systems”, this patent allowance by the Canadian Intellectual Property Office has a corresponding US Patent 8,465,537. These patents help secure the intellectual property related to stents that are coated or encapsulated with Gel-Del’s proprietary non-clotting regenerative biomaterials. The self-assembled protein-based scaffolds have inherent drug delivery capabilities that allow coated stents and stent grafts to elute active compounds for many weeks to months. Gel-Del’s stent and lumen devices have a variety of veterinary and human applications.
Gel-Del’s product development efforts for vascular grafts, stents, catheters and drug delivery devices have been supported by $6.6 million in competitive National Institute of Health grant funding. The vast majority of the funding was received from the National Heart, Lung and Blood Institute under the project title “Arterial-Mimetic Grafts Molded From Purified Proteins”. This funding allowed for over five years of extensive testing of Gel-Del’s vascular devices, including both swine and sheep, and demonstrated the efficacy of these devices for smaller diameters required for companion animal applications. In addition, these NIH studies have advanced the pre-clinical studies required for human use, which includes coronary artery bypass grafts to prevent heart attacks.
“We are pleased to have another stent patent allowance for our medical device technology,” commented Gel-Del’s CEO, Dr. David B. Masters. “There have been many accomplishments made over the years to forward this technology for small diameter vessels such as the arteries that feed the heart, and we are excited about the opportunities in the veterinary market to enhance the lives of companion animals with these products. The older our pets get the more they are demonstrating human cardiovascular problems.
Our initial work in developing this biomaterial technology has been funded with competitive research grants from the NIH because of the significance it brings to cardiovascular interventions. The patents we have secured include making small diameter grafts and stents to keep blood vessels open without using anti-platelet therapy, both of which can greatly facilitate cardiovascular interventions for companion animals, as well as other first to market products.”
About Gel-Del Technologies, Inc.
Gel-Del Technologies (www.gel-del.com) is a biomaterial and medical device manufacturing company based in St. Paul, Minnesota. The company successfully completed a pivotal clinical trial using their novel thermoplastic biomaterial as an injected dermal filler for human facial contour applications (clinicaltrials.gov NCT00414544).
Gel-Del’s core competencies include the development and manufacturing of medical devices containing its proprietary biomaterials with or without pharmaceuticals. Using its patented thermoplastic and/or compression manufacturing technologies, purified proteins and carbohydrates are accurately self-assembled and fabricated into cell supporting and tissue compatible biomaterial scaffolds. These “made from scratch” biological scaffolds have the hydrophilic biomimetic structure of the body’s non-cellular tissue allowing in vivo biochemical interaction, cellular integration, neovascularization, tissue repair, tissue absorption and regeneration as a temporary or permanent implant. This biomaterial platform has an interlocking proteinaceous structure with inherit molecular forces to contain added components and/or allow their elution for drug delivery at prescribed durations to any body tissue (e.g., transmucosal, injected or implant depots for minutes to months duration).
These non-soluble biomaterials are produced using a patented and reproducible-scalable process that is FDA-validated for human clinical trial production. The inherent properties of these biomaterials allow thermoplastic, compression molding or liquid coating techniques to manufacture implantable devices of all shapes and sizes, including particles for injection and as drug delivery devices at any pharmaceutical dose.
About PetVivo, Inc:
PetVivo, Inc. is a wholly owned subsidiary of PetVivo Holdings, Inc. (OTCPINK:PETV) based in Minneapolis, Minnesota. PetVivo is an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices and other therapeutics for pets.
PetVivo believes that it can leverage the investments in the human biomaterials and medical device industries to commercialize therapeutics to pets in a capital and time efficient way. PetVivo’s strategy is to in-license proprietary products from human medical device companies specifically for use in pets. A key component of this strategy is the accelerated timeline to revenues for veterinary medical devices, which enter the market much earlier than the more stringently regulated pharmaceuticals.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the forward-looking statements. Readers accordingly should not place undue reliance on these forward-looking statements, which do not reflect unknown or unanticipated events or circumstances occurring after the date of these forward-looking statements.