PetVivo Holdings, Inc. Moves Manufacturing Facility, Creates Research and Development Laboratory - Archived News Release
MINNEPOLIS, MINNESOTA, USA, August 16, 2018 /EINPresswire.com/ -- PETVIVO HOLDINGS, INC. MOVES AND EXPANDS MANUFACTURING FACILITY. CREATES RESEARCH AND DEVELOPMENT LAB
(OTCMARKETS: PETV), PetVivo Holdings, Inc. (www.petvivo.com) an emerging biomedical device company, is pleased to announce the moving of its manufacturing facility and the creation of a research and development lab.
In an effort to expand manufacturing and create a research and development facility, Petvivo, Inc. moved from Elite Solutions in Rochester, Minnesota to the home of CytoMedical Design Group LLC (cmdg) in St. Paul, Minnesota. The location has far better access for Petvivo employees and eliminates the costs of hotels and mileage which the company has been absorbing sending and supporting staff from Minneapolis for weeks at a time to work in Rochester.
“We estimate that our cost of manufacturing will be reduced substantially. It is also time to address our plan to continue improving our product and initiate our research and development plans. Assistance for both manufacturing and research will be available from staff members of the cmdg group. Cmdg has additional clean rooms and square footage for our use “commented Wes Hayne, CEO of Petvivo Holdings, Inc.
The move was performed in one week, coordinated with three different moving companies. Each company specializing in specific equipment, with different degrees of sensitivity. The move is now complete, and production is expected to resume within the next three weeks. The new surroundings and extra space will help in building the efficiencies of the manufacturing process.
About PetVivo Holdings, Inc.
PetVivo Holdings Inc. (OTCPINK: 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 twenty 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, is scheduled for launch later this year.
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