MINNEAPOLIS, MN / ACCESSWIRE / April 14, 2015 / PetVivo Holdings, Inc. (PETV) an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices & therapeutics for pets is pleased to announce the completion of the merger between PetVivo and Gel-Del following satisfaction of the terms and conditions of the previously announced definitive stock exchange agreement. Gel-Del Technologies shareholders will receive shares in PetVivo Holdings and Gel-Del Technologies will continue to operate as a wholly-owned subsidiary of PetVivo Holdings.
"The PetVivo/Gel-Del merger creates value for everyone involved," commented PetVivo CEO John Lai, "We look forward to product revenues later this year and the rollout of Gel-Del's expansive medical device portfolio that is protected by eighteen allowed patents and an additional eighteen applications pending in key markets around the world."
PetVivo's lead product, Kush(TM) Canine, for the treatment of canine osteoarthritis, is scheduled for commercial launch later this year, followed shortly thereafter by Kush(TM) Equine for the treatment of lameness in horses. The particles used to make the Kush devices are part of a large pipeline of patented animal and human therapeutics developed and manufactured by Gel-Del Technologies.
"We are excited about the many opportunities this merger provides," Gel-Del's CEO Dr. David B. Masters noted, "We look forward to commercializing our extensive product pipeline with our initial product launch for treatment of osteoarthritis in dogs. What a great thing to make happen, that is to see dogs run again after receiving our once per year Kush injection treatment into their elbow or knee."
Gel-Del Technologies was founded in 1999 by its Chief Executive Officer, Dr. David B. Masters. Dr. Masters developed Gel-Del's proprietary biomaterials that simulate a body's non-cellular tissue and thus can be readily and effectively utilized to manufacture implantable therapeutic medical devices. The chief advantage of Gel-Del biomaterials is their enhanced biocompatibility with living tissues throughout the body.
About Gel-Del Technologies, Inc.
Gel-Del Technologies (www.gel-del.com) is a biomaterial and medical device manufacturing company based in St. Paul, Minnesota. The company successfully completed a pivotal clinical trial using their novel thermoplastic biomaterial as an injected dermal filler for human facial contour applications (clinicaltrials.gov NCT00414544).
Gel-Del's core competencies include the development and manufacturing of medical devices containing its proprietary biomaterials with or without pharmaceuticals. Using its patented thermoplastic and/or compression manufacturing technologies, purified proteins and carbohydrates are accurately self-assembled and fabricated into cell supporting and tissue compatible biomaterial scaffolds. These "made from scratch" biological scaffolds have the hydrophilic biomimetic structure of the body's non-cellular tissue allowing in vivo biochemical interaction, cellular integration, neovascularization, tissue repair, tissue absorption and regeneration as a temporary or permanent implant. This biomaterial platform has an interlocking proteinaceous structure with inherit molecular forces to contain added components and/or allow their elution for drug delivery at prescribed durations to any body tissue (e.g., transmucosal, injected or implant depots for minutes to months duration).
These non-soluble biomaterials are produced using a patented and reproducible-scalable process that is FDA-validated for human clinical trial production. The inherent properties of these biomaterials allow thermoplastic, compression molding or liquid coating techniques to manufacture implantable devices of all shapes and sizes, including particles for injection and as drug delivery devices at any pharmaceutical dose.
About PetVivo, Inc:
PetVivo, Inc. is a wholly owned subsidiary of PetVivo Holdings, Inc. (PETV) based in Minneapolis, Minnesota. PetVivo is an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices and other therapeutics for pets.
PetVivo believes that it can leverage the investments in the human biomaterials and medical device industries to commercialize therapeutics to pets in a capital and time efficient way. PetVivo's strategy is to in-license proprietary products from human medical device companies specifically for use in pets. 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.
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.
SOURCE: PetVivo Holdings, Inc.