Minneapolis, Aug. 22, 2016 (GLOBE NEWSWIRE) --
PetVivo Continues IP Portfolio Expansion
MINNEAPOLIS, MN August 22, 2016 PetVivo Holdings, Inc. (OTCPINK:PETV) an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics is pleased to announce that the European Patent Office has granted a patent securing Gel-Del’s intellectual property related to orthopedic fracture fixation devices. This patent represents significant market opportunities in both the companion animal and human clinical markets. With the issuance of this patent the company’s global patent portfolio has grown to twenty patents, including eight in the US, with an additional seventeen global patent applications pending.
This patent, titled “Biomatrix Structural Containment and Fixation Systems”, secures intellectual property with medical devices that include orthopedic fracture fixation systems that enable bones to heal across separated defects. This osteoconductive regeneration system uses both biomatrix particles to induce and direct bone growth and a biomatrix sleeve to contain the particles to the defect zone. The sleeve also provides a bridge to connect the vascularized periosteum across the defect, and importantly isolates the defect from soft tissue intrusion and interference to allow the particles to bridge the nonunion. This technology offers a new and simplified treatment method for fractures that are exceptionally difficult to treat.
This technology may also be utilized to repair fractures or damage to other parts of the body such as tendons and nerves (e.g. spinal cord and optical nerve). These therapies improve upon current therapies by using both a containment sleeve to isolate bone, tendon or nerve healing from soft tissue and by adding therapeutic bone, tendon or nerve mending particles to act as healing scaffolds, both of which can provide local drug delivery and local cell integration to the site of healing. The United States Patent Office has already granted a corresponding patent relating to these devices.
“We are very pleased with the continued expansion of our intellectual property portfolio around the globe,” noted PetVivo’s Chief Technical Officer, Dr. David B. Masters. “The European Patent Office has comprehensively granted the same matter as the US Patent and Trademark Office to recognize the uniqueness and broad inventiveness of our natural protein biomaterials and their benefits to create better tissue safe-medical implants and drug delivery device platforms.”
The company diligently protects their proprietary technologies, including the composition of raw elements used to produce its formulations, as well as the fabricated biomaterials and their application in end products and devices. To maximize the strength and value of the company’s intellectual property the claims generally cover the commercial devices/therapeutics, the manufacturing methods and the methods of use of its devices/therapeutics.
PetVivo’s lead product, Kush Canine, a veterinarian-administered joint injection for the treatment of osteoarthritis in dogs, is available for sale in limited quantities to key opinion leaders, with a targeted launch slated for later this year.
You can learn more about Kush Canine and PetVivo by visiting the companies website at www.petvivo.com
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 commercial launch later this year.
The Company will also be seeking licensing partners to commercialize its portfolio of proprietary human clinical therapeutics in large market sectors, including: cardiovascular, orthopedic, urology and aesthetics.
The foregoing 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.
Chief Executive Officer
PetVivo Holdings, Inc.
Source:PetVivo Holdings, Inc.