PetVivo Holdings, Inc. Achieves Distribution Milestone Surpassing 4500 Syringes of Spryng™ in 2023
- Significant increase in Spryng distribution by over 60% from the previous year
- Positive outcomes experienced by animals injected with Spryng driving its momentum
- Anticipation of further distribution boost in the new year through upcoming clinical studies and trade show exposure
- None.
Insights
The recent distribution achievements of PetVivo Holdings, Inc. highlight a significant uptick in demand for their Spryng™ with OsteoCushion™ technology. This injectable veterinary medical device represents an innovative approach to managing joint-related diseases in animals, a field that has seen growing interest as pet owners increasingly seek advanced treatments for their companions. The reported increase in excess of sixty percent from the previous year underscores a robust market acceptance and potential for growth in this niche segment of the veterinary therapeutics market.
From a veterinary perspective, the integration of Spryng's microparticles with an animal's subsynovial tissue could be a game-changer for the treatment of conditions like osteoarthritis, which is a common and often debilitating condition in pets. The technology behind Spryng, which involves the restoration of proper joint mechanics, offers a non-pharmaceutical alternative that may have fewer side effects compared to traditional treatments, thereby aligning with the trend towards more holistic veterinary care.
Analyzing the financial implications of PetVivo's milestone, the distribution of over 4500 syringes signals a positive revenue trajectory for the company. The sixty percent year-over-year increase in product distribution is a robust indicator of commercial success and may reflect favorably in the company's financial statements. Investors will be keen to monitor the company's sales growth and market penetration, as well as the sustainability of this momentum. It is also important to consider the cost implications of scaling production and distribution to meet increasing demand.
Furthermore, the company's engagement with the veterinarian community and the anticipated exposure at upcoming trade shows could enhance brand visibility and potentially drive further adoption. The financial performance of PetVivo will likely be influenced by the outcomes of additional clinical studies and the continued endorsement by key opinion leaders in the veterinary field.
The veterinary healthcare industry is evolving with a strong emphasis on advanced therapeutic options for companion animals. PetVivo's Spryng™ with OsteoCushion™ technology aligns with this trend and addresses a significant market need for innovative treatments for joint-related afflictions in animals. The company's strategic focus on clinical studies and leveraging key opinion leaders for product endorsement is a sound approach in establishing credibility and market presence. As the industry continues to grow, driven by pet humanization and increased spending on pet health, PetVivo's technology and market strategy position it well to capitalize on these industry dynamics.
However, the competitive landscape includes both established pharmaceutical companies and emerging biotech firms, which means that PetVivo must continue to innovate and prove the efficacy and safety of its products through rigorous clinical studies. The company's performance in the coming years will be a testament to its ability to maintain its competitive edge in a market that is increasingly receptive to cutting-edge veterinary solutions.
MINNEAPOLIS, MN, US, Dec. 21, 2023 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) (the "Company"), an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for companion animals, achieved a significant milestone – surpassing 4500 syringes of Spryng™ with OsteoCushion™ technology distributed to veterinarians in the 2023 calendar year. Thanks to the support of veterinarians throughout the United States, Spryng has experienced strong momentum this year, driven by the beneficial outcomes experienced by thousands of animals injected with this life changing product.
“Achieving this distribution milestone involving Spryng is a testament to the unwavering support of the veterinarian community and their passion to help animals suffering from debilitating lameness related diseases, such as osteoarthritis,” said John Lai, Chief Executive Officer of PetVivo Holdings, Inc. “We’re grateful for all the veterinarians who have added Spryng to their toolbox of therapeutics and medical devices, and we’re thrilled that we are witnessing the positive impact Spryng has had in helping animals suffering from joint related afflictions.”
Veterinarian enthusiasm for Spryng is higher than ever making this the biggest year yet for Spryng distribution. The distribution of syringes of Spryng is an increase in excess of sixty percent from the previous year. This momentum has been driven by the release of recent Spryng clinical study data, such as a cranial cruciate disease study performed by Ethos Veterinary Health, as well as numerous presentations and references at industry trade shows by reputable key opinion leaders in the equine and small animal veterinary community. We anticipate this enthusiasm will magnify into the new year with the release of additional clinical studies and exposure at small animal veterinary trade shows, including the Veterinary Medical Expo in Orlando Florida in January, 2024 and the Western Veterinary Conference in Las Vegas, Nevada in February, 2024.
SPRYNG™ with OsteoCushion™ Technology, is an intra-articular injectable veterinary medical device consisting of sterilized, extra-cellular matrix microparticles. The microparticles of Spryng have been found to adsorb onto the joint synovial lining of animals and subsequently integrate with the animal’s subsynovial tissue. Such action promotes the restoration of proper joint mechanics, thereby aiding in the management of noninfectious sources of joint pain such as joint instability, degenerative joint disease and osteoarthritis.
For more information about PetVivo Holdings, Inc. and its innovative product, Spryng, please contact info1@petvivo.com or visit https://petvivo.com/ and https://sprynghealth.com/.
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 twenty patents protects the Company's biomaterials, products, production processes and methods of use. The Company’s lead product SPRYNG, a veterinarian-administered, intraarticular injection for the treatment of lameness and other joint-related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale to veterinarians.
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 are based on information currently available to 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, 2023 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.
FAQ
What is the milestone achieved by PetVivo Holdings, Inc. (PETV & PETVW) in 2023?
What is Spryng™ with OsteoCushion™ Technology?
What has driven the momentum of Spryng distribution?
