PetVivo Recieves Notice of Allowance from United States Patent and Trademark Office for Key Patent Application
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The granting of a patent by the USPTO is a significant milestone for PetVivo Holdings as it solidifies their intellectual property (IP) portfolio, which is an essential asset for biomedical device companies. IP protection is crucial as it prevents competitors from replicating their proprietary biomaterials and products, thus providing a competitive edge in the market. The patent for 'Protein Biomaterials and Biocoacervates and Methods of Making and Using Thereof' likely covers innovative aspects of their technology that can be leveraged to expand their product line and potentially enter new markets.
The scope of the claims within the patent is particularly important. Broad claims can offer extensive protection, making it more challenging for competitors to design around the patent. This can lead to a stronger market position and potentially higher revenues from both direct sales and licensing agreements. However, broad claims are often subjected to more scrutiny and potential challenges, which could lead to future legal defense costs.
The notice of allowance for a patent application covering biocompatible sponge-like particles used in PetVivo’s Spryng™ with OsteoCushion™ Technology is indicative of the company's innovation in the veterinary medical devices sector. This technology, which aims to address joint and tissue ailments in companion animals, taps into the growing pet care market, which has been experiencing an upward trend due to increased pet ownership and a greater focus on pet health and wellness.
From a market perspective, the protection of this technology could allow PetVivo to secure and possibly expand its market share. The proprietary nature of their products may enable premium pricing and improve profit margins. Additionally, such advancements could attract partnership opportunities with larger pharmaceutical or pet care companies seeking to diversify their offerings with cutting-edge technologies.
The notice of allowance is a positive development for PetVivo Holdings' financial outlook, as it could lead to increased investor confidence. Patents are intangible assets that can significantly enhance company valuation. Investors often view robust patent portfolios as indicative of a company's potential for future growth and profitability. It's important to monitor how this IP protection translates into market performance and whether it will lead to an increase in share price or attract strategic investments.
While this development is promising, it is essential to consider the costs associated with maintaining patents, potential litigation and the time to market for the products covered by the patent. The company’s ability to effectively commercialize the patented products and manage these costs will be critical in determining the long-term financial impact of this news.
MINNEAPOLIS, MN, Jan. 23, 2024 (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 is pleased to announce that the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for a patent application related to the Company’s proprietary biomaterials and corresponding products. The broad scope of the issued claims in this patent, entitled “Protein Biomaterials and Biocoacervates and Methods of Making and Using Thereof” provides protection for a broad range of proprietary products, including the biocompatible sponge-like particles used in PetVivo’s signature product, Spryng™ with OsteoCushion™ Technology.
“We are incredibly excited about the current expansion of our intellectual property portfolio due to the allowance of another patent that further covers and protects our innovative proprietary technology," said John Lai Chief Executive Officer of PetVivo Holdings, Inc. “One of PetVivo’s primary initiatives is to pursue, capture and enforce our proprietary intellectual property assets. This patent increases the scope of our patent claims, thereby expanding our competitive advantage in the commercialization of products used in the treatment of humans and companion animals.”
With the imminent patent issuance by the USPTO, PetVivo’s intellectual property portfolio has grown to twenty-two allowed and/or issued patents, twelve of which are United States patents.
PetVivo diligently protects its proprietary technologies, including the fabricated biomaterials and their application in end products and devices. To maximize the strength and value of its intellectual property, the claims pursued by PetVivo generally cover the commercial devices/therapeutics, the manufacturing methods and the methods of use of PetVivo’s proprietary technology.
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-two allowed and/or issued 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 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 notice of allowance issued by the USPTO for PetVivo Holdings, Inc.?
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