PETVIVO HOLDING, INC. ANNOUNCES DISTRIBUTION SERVICES AGREEMENT WITH MWI ANIMAL HEALTH
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MINNEAPOLIS, June 29, 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 it has entered into a definitive exclusive distribution services agreement with MWI Animal Health, a leading distributor of animal health products and services and a subsidiary of AmerisourceBergen.
MWI will inventory, market, and promote PetVivo’s veterinary medical device, Spryng™ with OsteoCushion™ Technology, throughout the United States. Through its network of distribution centers in key markets nationwide, MWI can support efficient deliveries to communities nationwide.
"We are pleased with the commitment MWI has made to PetVivo in the roll out of this new relationship that includes the distribution of our lead product, Spryng. We view MWI as a strategic partner that will allow PetVivo significant exposure to and penetration in the US animal health market. This new relationship will benefit the industry, the veterinarian who provides the medical care, their patients and the pet owner alike," stated John Lai, Chief Executive Officer for PetVivo.
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 companion animals in a simple in-clinic administration.
“We continue to see tremendous innovation across the animal health industry, including the emergence of novel therapies and devices. We work closely with companies leading these efforts to ensure veterinarians nationwide have access to the latest products and services that have the potential to help pets live longer and healthier lives,” said Steve Shell, president of MWI Animal Health. “We are thrilled to work with PetVivo to provide veterinarians with timely and reliable access to the company’s new medical device.”
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, CEOPetVivo Holdings, Inc.Email: [email protected](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, 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, 2021 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.
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