MINNEAPOLIS, Oct. 03, 2022 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) ("PetVivo"), an emerging biomedical device company focused on the commercialization of innovative medical devices and other therapeutics for equine athletes and companion animals, announced today that its signature product Spryng™ with OsteoCushion™ Technology is now available for purchase through MWI Animal Health, a subsidiary of AmerisourceBergen (“MWI”). MWI, a leading distributor of animal health products and services, has Spryng available for sale throughout the United States. Pursuant to an exclusive distribution agreement entered into by PetVivo and MWI, MWI will inventory, market, and promote Spryng throughout the United States.
We have shipped Spryng to veterinarians in forty two states. "We are now excited to team-up with MWI to expand the distribution of Spryng to veterinarians throughout the United States. We view MWI as a strategic partner that will allow PetVivo significant exposure to and penetration in the US animal health market, stated John Lai, Chief Executive Officer for PetVivo. We believe our relationship with MWI will provide veterinarians a new tool for the management of lameness and other joint afflictions, thereby enhancing the lives of animals and their owners alike.”
PetVivo’s innovative product, Spryng with OsteoCushion Technology, is a veterinary medical device comprised of millions of micronized hydrogel matrices, which are derived from natural biocompatible components. OsteoCushion Technology provides both reinforcing natural joint support to augment and reinforce missing and/or damaged cartilage, as well as delivers natural scaffolding to help address tissue defects. These attributes offer a great solution to manage lameness and joint afflictions, such as osteoarthritis, for equine athletes and companion animals in a simple in-clinic administration.
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 nineteen patents protects the Company's biomaterials, products, production processes and methods of use. The Company’s lead product SPRYNG™ with OsteoCushion™ technology, a veterinarian-administered, intraarticular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale.
John Lai, CEO
PetVivo Holdings, Inc.
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, including the potential listing of the Company’s common stock on Nasdaq, 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, 2022 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.