PetVivo Receives Notice of Allowance from United States Patent and Trademark Office for Key Patent Application
MINNEAPOLIS, MN, Jan. 23, 2024 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) (the "Company") an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for companion animals is pleased to announce that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for a patent application related to the Company’s proprietary biomaterials and corresponding products. The broad scope of the issued claims in this patent, entitled “Protein Biomaterials and Biocoacervates and Methods of Making and Using Thereof” provides protection for a broad range of proprietary products, including the biocompatible sponge-like particles used in PetVivo’s signature product, Spryng™ with OsteoCushion™ Technology.
“We are incredibly excited about the current expansion of our intellectual property portfolio due to the allowance of another patent that further covers and protects our innovative proprietary technology," said John Lai Chief Executive Officer of PetVivo Holdings, Inc. “One of PetVivo’s primary initiatives is to pursue, capture and enforce our proprietary intellectual property assets. This patent increases the scope of our patent claims, thereby expanding our competitive advantage in the commercialization of products used in the treatment of humans and companion animals.”
With the imminent patent issuance by the USPTO, PetVivo’s intellectual property portfolio has grown to twenty-two allowed and/or issued patents, twelve of which are United States patents.
PetVivo diligently protects its proprietary technologies, including the fabricated biomaterials and their application in end products and devices. To maximize the strength and value of its intellectual property, the claims pursued by PetVivo generally cover the commercial devices/therapeutics, the manufacturing methods and the methods of use of PetVivo’s proprietary technology.
For more information about PetVivo Holdings, Inc. and its innovative product, Spryng, please contact info1@petvivo.com or visit https://petvivo.com/ and https://sprynghealth.com/.
About PetVivo Holdings, Inc.
PetVivo Holdings Inc. (NASDAQ: PETV & PETVW) is an emerging biomedical device company currently focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for companion animals. The Company's strategy is to leverage human therapies for the treatment of companion animals 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 more stringently regulated pharmaceuticals and biologics.
PetVivo has a pipeline of seventeen products for the treatment of animals and people. A portfolio of twenty-two allowed and/or issued patents protects the Company's biomaterials, products, production processes and methods of use. The Company’s lead product SPRYNG, a veterinarian-administered, intraarticular injection for the treatment of lameness and other joint-related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale to veterinarians.
CONTACT:
John Lai, CEO
PetVivo Holdings, Inc.
Email: info1@petvivo.com
(952) 405-6216
Forward-Looking commercial Statements:
The foregoing material may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. Forward-looking statements include all statements that do not relate solely to historical or current facts, including without limitation the Company’s proposed development and commercial timelines, and can be identified by the use of words such as “may,” “will,” “expect,” “project,” “estimate,” “anticipate,” “plan,” “believe,” “potential,” “should,” “continue” or the negative versions of those words or other comparable words. Forward-looking statements are not guarantees of future actions or performance. These forward-looking statements are based on information currently available the Company and its current plans or expectations and are subject to a number of uncertainties and risks that could significantly affect current plans. Risks concerning the Company’s business are described in detail in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 and other periodic and current reports filed with the Securities and Exchange Commission. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.