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PetVivo Announces Definitive Merger Agreement with Gel-Del Technologies

Monday, 24 November 2014 07:00 AM

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MINNEAPOLIS, MN / ACCESSWIRE / November 24, 2014 /  PetVivo Holdings, Inc. (OTCPINK:PETV) an emerging biomedical device company focused on the licensing and commercialization of innovative medical devices for pets, or pet therapeutics is pleased to announce that they have entered into a definitive stock exchange agreement with Gel-Del Technologies, Inc.

"This merger creates value for everyone involved," commented PetVivo CEO John Lai, "PetVivo provides Gel-Del access to capital and product revenues beginning in early 2015, while PetVivo gains an extensive product and intellectual property portfolio from Gel-Del."

"I believe we will create significant value for all stakeholders by combining Gel-Del’s innovative technology platform and commercial ready product pipeline with PetVivo’s strong desire to be the veterinary leader in medical device treatments that reduce pain and bring a better life to animals and their owners." noted Gel-Del’s CEO Dr. David B. Masters.

Upon approval of PetVivo and Gel-Del shareholders that includes certain conditions, this merger will result in an exchange of all outstanding capital stock of Gel-Del with PetVivo. At the time of closing, which is scheduled to occur on or before March 31, 2015, Gel-Del will become a wholly owned subsidiary of PetVivo. Gel-Del will continue with its operations to provide biomaterials and products for human and veterinary markets.

Gel-Del is a biomaterial and medical device development and manufacturing company with its offices and production facilities based in St. Paul, Minnesota, and 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 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.

PetVivo’s lead product, Kush(TM) Canine, for the treatment of canine osteoarthritis, is scheduled for commercial launch in Q2 2015, followed shortly thereafter by Kush(TM) Equine for the treatment of lameness in horses in Q4 of 2015. 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.

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, and regeneration as a temporary or permanent implant.

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 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. (OTCPINK: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.

Forward-Looking 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.

Contact:

John Lai
Chief Executive Officer
PetVivo Holdings, Inc.
Email: [email protected]
Phone: 612-296-7305


Source: PetVivo, Inc.

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