Minneapolis, MN, May 13, 2020 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB: PETV)
Dear Stakeholders of PetVivo Holdings, Inc.,
PetVivo Holdings, Inc. Minneapolis MN (OTCQB: PETV) an emerging biomedical device company focused on the commercialization of innovative medical therapeutics for pets is pleased to provide an update to our stakeholders. We have a number of exciting developments to share with each of you and despite the pandemic slowing the world’s economy, we believe PetVivo will continue to excel in 2020.
We, the management team of PetVivo, have been busy over the last several months positioning the Company for a successful launch of our lead product, Kush™, a medical device injection of sterilized, hydrogel microparticles that are wet, slippery and spongy used in the treatment of lameness and other joint related afflictions such as osteoarthritis. In our efforts to facilitate a successful commercial launch, our manufacturing team is entering into the final stages of completing our new production and R&D facility located in suburban Minneapolis, MN. We anticipate that the first pre-commercial production runs of Kush may begin in July, 2020. Once operational we expect this facility to be able to support production of approximately 500,000 units per year at full capacity.
Additionally, the management team at PetVivo recently participated and successfully completed exhibiting at the Western Veterinary Conference from February 17th to February 19th, 2020 at the Mandalay Bay Convention Center in Las Vegas, NV. At the WVC, PetVivo introduced and highlighted its lead product, Kush. WVC is the largest veterinary conference that services the western part of the United States and plays host to more than 15,000+ participants including many of the top industry professionals. The introduction of Kush received an excellent response from veterinarians at the WVC; the overwhelming response from vets has resulted in their strong desire to introduce their patients to Kush and through the WVC we have vastly expanded veterinarians’ awareness of Kush throughout the western part of the United States and Canada.
Over the past few months, PetVivo is also in the process of expanding its management team. Members of the management team and board of directors have been actively interviewing top candidates to assume the position of director of sales and marketing. With manufacturing right on the doorstep of operation, the leadership at PetVivo is actively pursuing experienced executives to design and facilitate the launch of Kush™. The candidates interviewed to date are incredibly experienced in launching new veterinary products and the Company is optimistic that a high-level executive will be installed in the upcoming months.
Finally, PetVivo has recently initiated a new social media engagement campaign to increase transparency with its stakeholders, veterinarians and potential customers. In March, 2020 we started off strong with great social media positioning of our lead product Kush™, that is garnering excellent responses from veterinarians and companion animal owners. Despite recent COVID-19 concerns towards the general market, we want to assure you that we are still progressing, having valuable conversations and look forward to a more informative update in the future on this. We have recently created a live, interactive group you anyone can join to reach team members and other PetVivo supporters. This portal allows individuals to learn more about the company and discover our products. The Telegram Group may be accessed at https://t.me/PetvivoInc. The Company has also set up a new YouTube channel where it will be posting weekly videos with team members, announcing developments, and giving a behind the scenes look at what happens at PetVivo. Interested Individuals may access the PetVivo YouTube Channel Here at https://www.youtube.com/channel/UC14nPbu3ThpSKdt5b3CBN4Q; check out our first video with CEO John Lai at https://www.youtube.com/watch?v=Ry6T-1BPe0s.
We are so excited for the future of PetVivo and we sincerely appreciate YOU, our supporters, old and new. And as always, stay safe and well.
About PetVivo Holdings, Inc.
PetVivo Holdings Inc. (OTCQB: PETV) is an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices for pets and pet therapeutics. PetVivo is leveraging investments made in the human medical device industry to commercialize therapeutics for pets in a capital and time efficient way. 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.
PetVivo’s strategy is to commercialize proprietary products from human medical device companies specifically for the companion animal market. The company’s product pipeline includes seventeen animal and human therapeutics. A portfolio of eighteen patents protects the company’s products, production processes and biomaterials. PetVivo’s lead product, a veterinarian-administered joint injection for the treatment of osteoarthritis in dogs and horses called Kush® is scheduled for launch later this fiscal year.
The Company recently exclusively licensed its mucoadhesive technology to a strategic partner, Emerald Organic Products, Inc., for use of CBD in the human nutraceutical market. The Company will also be seeking additional licensing partners to commercialize its portfolio of proprietary human clinical therapeutics in large market sectors, including: cardiovascular, orthopedic, urology and aesthetics.
Forward-Looking Commercial Statements:
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.
PetVivo Holding, Inc. Reports Progress to Stakeholders
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Chief Executive Officer
PetVivo Holdings, Inc.