PetVivo Holdings Inc (NASDAQ: PETV) is a veterinary medical products company that commercializes and licenses biomaterial-based treatments for companion animals. Revenue is generated through product sales of its Spryng® intra-articular injection and through licensing agreements, distributed via agreements with Vedco and Clipper Distributing. The company competes against established pharmaceutical and veterinary treatment options including NSAIDs, steroid injections, and hyaluronic acid injections used to manage osteoarthritis in dogs and horses. Incorporated in March 2009 under Nevada law, PetVivo operates as a single segment from its headquarters in Edina, Minnesota. Its core products are derived from proprietary biomaterials composed of naturally occurring proteins including collagen, elastin, and heparin, originally developed for human biomedical applications and adapted for veterinary use. The company has never paid a cash dividend and has financed operations primarily through equity issuances, including a public offering completed August 13, 2021, that raised approximately $11.3 million in gross proceeds. As of March 31, 2025, there were approximately 258 stockholders of record.

Revenue model

Product sales of Spryng® through distribution partners Vedco and Clipper Distributing, supplemented by licensing agreements for its biomaterial-based veterinary products.

Products and services

Spryng® is an intra-articular injection for treating osteoarthritis in dogs and horses. It addresses loss of synovial fluid and deterioration of joint cartilage using proprietary biomaterials composed of collagen, elastin, and heparin. The company also holds patents, trademarks, and licensing agreements related to its biomaterial platform.

Customers and end markets

Veterinary clinics and hospitals treating companion animals, specifically dogs, horses, and cats. End market is the U.S. companion animal and equine veterinary sector, focused on osteoarthritis management.

Value-chain role

PetVivo manufactures Spryng® using raw materials sourced from independent third-party suppliers and distributes through independent distribution partners Vedco and Clipper Distributing. It is a product developer and commercial-stage manufacturer reliant on third-party raw material suppliers for collagen, elastin, and heparin.

Geographic exposure

United States, operating from Edina, Minnesota. No international operations are described in the filing excerpts.

Competitors

NSAID manufacturers (veterinary), Steroid injection providers (veterinary), Hyaluronic acid injection providers (veterinary)

Source: SEC 10-K, filed 2025-07-10

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