PetVivo Awarded Key Biocompatible Stent Patent by the United States Patent and Trademark Office

Rhea-AI Summary

PetVivo Holdings, Inc. (OTCQB:PETV) announced the issuance of a new patent from the USPTO for its proprietary encapsulated or coated stent systems. This patent covers a broad range of products, including biocompatible stents aimed at therapies for both humans and companion animals. With this patent, the company's intellectual property portfolio now includes 21 allowed patents, nine of which are U.S. patents. Additionally, PetVivo has 17 more applications pending, advancing its mission to innovate in the biomedical device sector for pets.

Positive

• Issuance of a new patent expands PetVivo's intellectual property portfolio to 21 allowed patents.
• The patent covers biocompatible stents, potentially widening product application in human and animal healthcare.

Negative

• None.

MINNEAPOLIS, MN, April 28, 2021 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB:PETV) an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices and therapeutics for pets is pleased to announce that the United States Patent and Trademark Office (USPTO) has issued a patent related to the Company’s proprietary encapsulated or coated stent systems. The broad scope of the issued claims in this patent, entitled “Encapsulated or Coated Stent Systems” provides protection for a broad range of proprietary products, including stents coated with PetVivo’s biocompatible coacervate biomaterial.

PetVivo’s biomaterial technology and the claims issued in this patent provide comprehensive coverage related to biocompatible stents for treatments in humans and companion animals.

With this recent patent issuance by the USPTO, PetVivo’s intellectual property portfolio has grown to twenty-one allowed patents, nine of which are United States patents. PetVivo has an additional seventeen patent applications pending in the US and in strategic foreign countries.

PetVivo diligently protects its proprietary technologies, including the fabricated biomaterials and their application in end products and devices. To maximize the strength and value of its intellectual property the claims generally cover the commercial devices/therapeutics, the manufacturing methods and the methods of use of PetVivo’s proprietary technology.

About PetVivo Holdings, Inc.

PetVivo Holdings Inc. (OTCQB: PETV) 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 eighteen patents protects the Company's biomaterials, products, production processes and methods of use. The Company’s lead product Kush, a veterinarian-administered, intraarticular injection for the treatment of osteoarthritis in dogs and horses, is scheduled for expanded commercial sale later this year.

CONTACT:

John Lai, CEO
PetVivo Holdings, Inc.
Email: info1@petvivo.com
(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, 2020 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.

Attachment

• PetVivo Holdings, Inc.

FAQ

What is the significance of the new patent issued to PetVivo Holdings (PETV)?

The new patent issued by the USPTO for PetVivo's encapsulated or coated stent systems enhances its intellectual property and covers a wide range of biocompatible stents for treatments in humans and companion animals.

How many patents does PetVivo Holdings currently hold?

PetVivo Holdings currently holds 21 allowed patents, including nine U.S. patents, with 17 additional applications pending.

What products are associated with PetVivo's new patent?

The new patent relates to encapsulated or coated stent systems, which include biocompatible stents for medical treatments in both animals and humans.

How does the patent issuance impact PetVivo's business strategy?

The patent strengthens PetVivo's position in the biomedical device market and supports its strategy of developing innovative medical devices and therapeutics for pets.