PetVivo Holdings, Inc. is an emerging biomedical device company that develops, manufactures, commercializes, and licenses medical devices and therapeutics for animals, with a lead product Spryng® (OsteoCushion® Technology) for intraarticular treatment of lameness and joint conditions in dogs and horses.

# PetVivo Holdings, Inc.

PetVivo Holdings, Inc. is an emerging biomedical device company that develops, manufactures, commercializes, and licenses medical devices and therapeutics for animals. Its pipeline includes 17 products intended for use in animals and humans.

## Intellectual property
- Ten issued patents: six U.S. patents and four foreign patents  
- Two U.S. patent applications  
- Six proprietary trade secrets covering biomaterials, production processes, and methods of use

## Lead product and commercialization
- Lead product: Spryng® with OsteoCushion® Technology — a veterinarian-administered intraarticular injection for management of lameness and joint conditions (for example, osteoarthritis) in dogs and horses  
- Commercialization of Spryng began in Q2 of the fiscal year ended March 31, 2022

## Capital raising and trading history
- August 2021: net proceeds of approximately $9.7 million from a registered public offering  
- Offering details: 2.5 million units at $4.50 per unit; each unit included one share of common stock and one warrant to purchase one share at $5.625  
- Shares of common stock and warrants were transferable separately immediately upon issuance  
- Common stock and warrants were registered under Section 12(b) of the Exchange Act and began trading on the Nasdaq Capital Market under the symbols PETV and PETVW; currently trade on the OTC Markets Group, OTCQX Best Market tier, under the same symbols

## Corporate and location
- Incorporated in March 2009 under Nevada law  
- One operating segment  
- Corporate headquarters: Edina, Minnesota

For additional detail, see Note 1, "Description of the Business," in the consolidated financial statements.

PetVivo Holdings, Inc. is a biomedical device company specializing in innovative joint and tissue therapeutics for animals, primarily targeting veterinary applications.

# Summary of PetVivo Holdings, Inc.

## Business Overview
- **Industry & Focus:** PetVivo is an emerging biomedical device company specializing in manufacturing, commercialization, and licensing of innovative medical devices and therapeutics for animals, primarily targeted at the veterinary market.

## Core Products & Technologies
- **Lead Product:** 
  - **Spryng® with OsteoCushion® Technology**: An intra-articular injectable device designed for dogs and horses to treat osteoarthritis and other joint afflictions.
  - Mimics natural cartilage using biocompatible particles made of collagen, elastin, and glycosaminoglycans like heparin.
  - Addresses the root causes of osteoarthritis, promoting joint tissue restoration and mechanical homeostasis.
- **Market & Usage:**
  - Targets osteoarthritis, a chronic degenerative joint disease affecting:
    - **Dogs:** Approximately 14 million affected.
    - **Horses:** Approximately 1 million affected.
  - The total U.S. market for pet care and products is about **$123.6 billion (2021-2022)**, with vet care and product sales constituting about **$34.3 billion**.
  - The target market includes veterinary clinics and hospitals with few existing long-term solutions for osteoarthritis.

## Commercialization & Distribution
- Started sales of Spryng® in Q2 FY2022.
- **Distribution Agreements:**
  - Initially had exclusive distribution with MWI (2022–2024), then shifted to non-exclusive, but mutually ended the agreement in March 2025.
  - Entered into agreements with Covetrus (2023–2025, ended February 2025).
  - Formed distribution partnerships with Vedco and Clipper (late 2024).
- **Sales Channels:**
  - Sold directly to veterinarians and through third-party distributors.
  - Customers are licensed veterinary practices.

## Manufacturing
- Produces products in ISO 7 certified clean rooms in Minneapolis.
- Uses proprietary scalable self-assembly manufacturing processes.
- Planning to establish a second manufacturing facility later in 2025 to enhance capacity and supply chain resilience.

## Product Pipeline & R&D
- **Pipeline includes:** 17 additional devices for veterinary and human applications.
- Focus on treatments for dermal fillers, cardiovascular devices, drug delivery systems, and orthopedic devices.
- Increasing efforts in clinical studies to expand distribution outlets and product applications.

## Intellectual Property
- Portfolio includes **6 issued patents** and **2 pending** in the U.S., plus patents in Canada and the EU.
- Protects biomaterials, production processes, and product applications.
- Relies on trade secrets for manufacturing techniques and formulations.
- Owns trademarks for Spryng® and OsteoCushion®; common law rights in PetVivo™.

## Market & Customers
- Approximately **258 shareholders** as of March 31, 2025.
- Number of issued common stock shares: about **24.4 million** (outstanding).
- Major customers include licensed veterinary practices, government agencies, and online purchasers (no specific customer count provided).

## Financials
- **2025 Revenue:** ~$1.13 million (up from ~$969k in 2024).
- **Net Loss (2025):** approximately **$8.4 million** (compared to ~$11 million in 2024).
- **Operating expenses:** Decreased to ~$9.05 million in 2025.
- **Cash and equivalents:** About **$227,689** as of March 31, 2025.
- **Recent financing:** $5 million Series B Preferred stock offering, with part of the proceeds received.
- **Losses:** Significant, with an accumulated deficit of **$91.2 million** as of March 31, 2025.
- **Employees:** 24 as of July 10, 2025.

## Regulatory & Clinical
- Spryng® classified as a veterinary medical device, not requiring pre-market approval in the U.S.
- Has completed studies including rabbit safety/efficacy, equine tolerance, and canine clinical trials.
- Planning and executing additional clinical studies for market expansion.

## Summary
PetVivo specializes in innovative, biocompatible biomaterials for treating joint and tissue issues in animals, especially osteoarthritis in dogs and horses, with an expanding pipeline of products aimed at both veterinary and human medical markets. The company is actively commercializing Spryng® through various distribution channels, has multiple clinical trials supporting product safety and efficacy, owns significant intellectual property, and operates with a team of 24 employees. Financial losses continue, but recent funding efforts have provided working capital.

PetVivo Holdings, Inc.

10-K / June 29, 2026

10-K / July 10, 2025

10-K / June 29, 2026

PetVivo Holdings, Inc.

Intellectual property

Lead product and commercialization

Capital raising and trading history

Corporate and location