PetVivo Holdings, an emerging biomedical device company focused on the commercialisation of innovative medical therapeutics for pets, has announced the certification and opening of its new medical device manufacturing facility and Center of Excellence in Edina, Minnesota.
The new manufacturing facility is primarily dedicated to the manufacture of its veterinary medical device for the treatment of osteoarthritis (OA), KUSH, in the $4.8 billion dog and horse therapeutics market and the development of its proprietary mucoadhesive active agent delivery products.
Located minutes from Minneapolis, Minnesota, the new PetVivo medical device facility will serve as the primary location for PetVivo medical device operations, which provides manufacturing capabilities to produce up to 500,000 syringes of Kush that could generate over $100 million in revenue annually.
"Minnesota is an ideal location for our medical Center of Excellence as it has a highly trained local workforce, strong local universities and a geographic location that makes it easily accessible and convenient for our customers," said John Lai, PetVivo CEO. "Our new facility will serve as a commercial launching pad for our innovative medical device products, as well as provide a state of the art facility for our future product initiatives."
PetVivo's facility is dedicated exclusively to medical device manufacturing and product development and is staffed with a highly skilled team, led by a seasoned management team having medical device manufacturing and engineering backgrounds.
The facility includes over 600 sqft of state-of-the-art ISO Class 5, Class 7 and Class 8 cleanroom space, with plans for additional expansion. This provides PetVivo the ability to execute high speed, high volume, high mix, zero defect, lean manufacturing solutions for the commercial production of products that enhance the quality of life for companion animals.
"By owning and controlling our own manufacturing site, the company can be more responsive to customer needs, as well as maintain better control of the Company's intellectual property, including our proprietary trade secrets," explained David Masters, Director of Science and Technology and primary inventor of PetVivo's technology. "The opening of our new manufacturing facility in Edina tremendously enhances our commercial strength by providing us the ability to mass manufacture our signature product, Kush, as well as allows our scientific team to achieve commercialisation of a number of the other therapeutic products existing in our extensive product pipeline."