MINNEAPOLIS, Feb. 02, 2018 (GLOBE NEWSWIRE) — A long-awaited day is approaching for PetVivo Holdings, Inc. (www.petvivo.com) (OTCMARKETS:PETV), an emerging biomedical device company. We are speaking of commercial production after fourteen years of research and preparation. The excitement has been growing throughout the company and is expected to build through these final weeks.
PetVivo decided to move their production to Rochester, Minnesota working with “Elite Custom Solutions”, a very unique medical manufacturing facility. Mr. Samuel Probhakar, the CEO of Elite, along with PetVivo staffers Randy Wenthold, Chief Science Officer, and Donna Paddock, Laboratory & Production Manager, expect to have the labs set for production by the end of March (2018).
Randy Wenthold of PetVivo commented, “During the last several weeks, Donna Paddock and I with the support of PetVivo senior management have executed a contract manufacturing agreement with Elite Custom Solutions, started transfer of assembly documents to an ISO quality system and concluded clean room requirements with initial process layout. Moving into the new facility will begin next week, February 5th.”
The company was originally planning to install the manufacturing at its corporate headquarters in Edina, Minnesota but the available resources and capability to upscale production at Elite created a change in plans. Once discovered, the working relationship between PetVivo and Elite has grown daily.
Elite Custom Solutions is a design, development and manufacturing company specializing in medical products. In addition to manufacturing they are available to assist in the areas of material qualification, selection and development support, failure analysis and materials testing.
PetVivo Board member, Mr. David Merrill advised the move along with the hiring of Randy Wenthold, our Chief Science Officer.
“I’ve enjoyed a 5-year business relationship with Randy and am excited that he’s joined the PetVivo family. I’m also happy to endorse and support the decision to enlist Elite as our production fulfillment agent. My experience with Elite has been outstanding, and I welcome them to the PetVivo team.”
All the necessary segments are in place; Kush technology, a strong PetVivo leadership team, superb manufacturing support and an experienced dynamic distribution network.
“I’ve had the opportunity to visit with Randy’s wife Tami an equine Veterinary Technician, as well as a retired personal DVM friend, and they share my enthusiasm and confidence in endorsing Kush therapy, a therapy offering positive patient outcomes and positive economic benefits to our animal patients and the DVM community,” stated David Merrill, PetVivo Corporate Board Member.
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 launch by the end of the fiscal year, March 2018.
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.
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Forward-Looking commercial Statements:
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.
Wesley (Wes) C. Hayne
PetVivo Holdings, Inc.
Direct: (763) 443-7272