PetVivo Holdings, Inc. Announces Release of Clinical Study Results Involving Canine Tolerance to Intra-articular Injections of Spryng™ with OsteoCushion™ Technology
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Insights
The release of the clinical study results for PetVivo's Spryng with OsteoCushion Technology represents a significant milestone in the veterinary medical device sector. The study's findings, indicating a strong safety profile for intra-articular injections in dogs, could potentially lead to an increase in the adoption of this treatment for joint-related conditions in companion animals. Considering the prevalence of joint issues such as osteoarthritis in pets, which affects millions of animals worldwide, a safe and effective treatment option could see substantial market demand.
From an investor's perspective, the safety data is a key factor in regulatory approval processes and market acceptance. PetVivo's ability to demonstrate comparable safety to a benign control like saline could facilitate smoother FDA regulatory pathways and enhance consumer confidence. This could ultimately translate into positive market performance for PetVivo, especially if further studies corroborate efficacy alongside safety.
The financial implications of PetVivo's announcement are multifaceted. Firstly, the veterinary healthcare market is a growing industry, with pet owners increasingly willing to spend on advanced treatments for their animals. The positive safety profile of Spryng could position PetVivo to capture a larger share of this market, particularly in the segment dealing with joint health. Moreover, the company's stock valuation might reflect the potential for increased sales volume, as positive clinical outcomes often lead to heightened investor interest.
However, investors should also consider the costs associated with bringing a new medical device to market, including marketing, distribution and post-market surveillance. While the news is positive, it is crucial to monitor the company's expenditure and revenue projections to understand the long-term financial health and the potential return on investment.
Understanding the competitive landscape is essential when evaluating the impact of the Spryng clinical study results. The pet healthcare industry has seen a surge in innovation, but products that demonstrate a high level of safety and efficacy have a competitive advantage. If Spryng can establish itself as a leading treatment for joint afflictions in pets, it could disrupt the current market, potentially displacing less effective or more invasive treatments.
Additionally, consumer trends show a rise in pet humanization, where owners treat their pets as family members and seek out the best care possible. This shift could increase the demand for high-quality medical devices like Spryng. Market research will be crucial in identifying target demographics, optimal pricing strategies and effective channels for reaching potential customers to maximize the product's market penetration.
MINNEAPOLIS, MN, US, Jan. 31, 2024 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (NASDAQ: PETV & PETVW) (the “Company” or “PetVivo") an emerging biomedical device company focused on the commercialization of innovative medical devices and therapeutics for companion animals announced that the Company has released the results of a clinical study conducted by Inotiv, Inc., a world-renowned independent clinical research organization, which examined the safety of intra-articular injections of a collagen-elastin hydrogel microparticulate biomaterial (i.e. Spryng™ with OsteoCushion™ Technology) into the joints of dogs.
“We were pleased to have the release of the final results of this Spryng tolerance study as this data demonstrates the safety of this veterinary medical device when injected into the joints of dogs,” said John Lai, Chief Executive Officer of PetVivo Holdings, Inc. “We continue to strive to provide data demonstrating that Spryng is a viable tool to use in the management of joint related afflictions that thereby enhances the lives of companion animals and their owners.”
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.
The data provided from the dogs enrolled in this study demonstrates the excellent safety profile of Spryng when injected IA into 40 joints (10 each, stifle, elbow, shoulder, hip) across 20 individual dogs. Use of Spryng was similar to a benign control (saline) in regard to incidences of lameness, joint swelling, or pain after IA injection, and post-injection outcomes were most often no different than pre-injection baseline measures. To view the Technical Bulleton discussing the tolerability study involving the intra-articular injection of Spryng in the joints of dogs, please visit the following:
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 robust pipeline of 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, intra-articular injection for the management of lameness and other joint related afflictions, including osteoarthritis, in dogs and horses, is currently available for commercial sale.
For more information about PetVivo Holdings, Inc. and our revolutionary product, Spryng with OsteoCushion Technology, please contact info1@petvivo.com or visit https://petvivo.com/ or http://sprynghealth.com.
CONTACT:
John Lai, CEO
PetVivo Holdings, Inc.
Email: info1@petvivo.com
(952) 405-6216
Forward-Looking 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 focus of the clinical study conducted by Inotiv, Inc.?
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