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PETV PetVivo Holdings, Inc. Letter to Shareholders

MINNEAPOLIS, MN--(Marketwired - Jun 9, 2014) - PetVivo Holdings, Inc. (OTCQB: PETV)

Dear Shareholders:
We are very pleased to provide you an update on our recent progress. As you may be aware PetVivo recently entered into a binding term sheet for a merger with our licensing and supply partner Gel-Del Technologies, Inc. Under the agreed upon terms Gel-Del will merge with PetVivo Holdings, Inc. and upon resolution of certain conditions specified as terms, a definitive agreement will consummate the merger.

While the Gel-Del license included an option to merge, both parties agreed that an accelerated path to a merger would maximize shareholder value by providing a strategic inflection point that expands access to capital and accelerates commercialization of both human and animal devices. While this planned merger greatly expands our product pipeline, PetVivo remains committed to a Q4 2014 launch of our first product Kush™ for the treatment of animal lameness.

Gel-Del Technologies has an extensive patent portfolio in key territories around the world including six issued US Patents. The portfolio not only protects the medical devices but also its materials and method of manufacture.

Gel-Del has completed a successful pivotal US clinical trial using their novel thermoplastic biomaterial as a dermal filler for human cosmetic applications. The randomized, double-blind, multicenter study compared Gel-Del's CosmetaLife Product to Restylane. In addition to meeting the primary efficacy endpoint, more subjects preferred CosmetaLife to Restylane through the study's duration. A summary of the trial information and results can be found on clinicaltrial.gov website: http://clinicaltrials.gov/show/NCT00414544

The dermal filler market is a multi-billion dollar market opportunity. Last month Nestle reported it is paying $1.4 billion in cash for the rights to sell Restylane and other skin products in the U.S. and Canada. We anticipate entering the dermal filler market 18 to 24 months post merger.

While the human market presents some very large opportunities for Gel-Del's novel devices in the short term PetVivo will continue to focus on the veterinary sector with the launch of the Kush product planned before year-end. We have also established a goal of being listed on NASDAQ within 12 months.

We thank you for your ongoing support and we remain committed to providing ongoing shareholder updates.
Regards,
John Lai
Chief Executive Officer

Read Full: http://finance.yahoo.com/news/petvivo-holdings-inc-letter-shareholders-104800939.html