SOURCE: PetVivo Holdings, Inc.
MINNEAPOLIS, MN--(Marketwired - May 29, 2014) - PetVivo Holdings, Inc. (OTCQB: PETV) an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices for pets, or pet therapeutics is pleased to announce that the Canadian Intellectual Property Office has issued a notice of allowance for the biomaterial contained in the Company's osteoarthritis product, which goes by the product name Kush™. This Canadian patent is one of the patents the Company has licensed from Gel-Del Technologies, Inc.
Titled "Protein Biomaterials and Biocoacervates and Methods of Making and Using Thereof" the patent application secures the protein matrix material that is used to produce the Kush particles for the treatment of osteoarthritic animal joints. PetVivo CEO John Lai noted, "We are pleased with the expanded intellectual property and the materials that Gel-Del's Dr. David B. Masters has invented and secured for the Kush product and related devices. The Kush product is protected by an extensive intellectual property portfolio in key markets around the world, including the Canadian patent's US equivalent, US Patent No. 8,153,591."
To treat lameness the Kush protein matrix particles are injected into the joint's synovial fluid to protect the joint by providing a cushion where the joint's natural cushioning cartilage is missing. A simple explanation is that the Kush device provides soft, resilient, particles to the joint to replenish the slippery cushioning characteristics of the missing or damaged cartilage. These particles are simply providing the joint the mechanical characteristics needed to absorb the forces of a normal joint. The Kush device is administered by a licensed veterinarian.
About PetVivo, Inc:
PetVivo, Inc. is a wholly owned subsidiary of PetVivo Holdings, Inc. (OTCQB: 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, Inc. believes that it can leverage the investments in the human bio-materials 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 fore-going 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.