PetVivo Engages Former Dechra North American President, Mike Eldred as Commercial and Operations Advisor
PetVivo Board Appoints Eldred as Executive Director to Lead Company
Product Commercialization and Operations
MINNEAPOLIS, MN, Jan. 27, 2025 (GLOBE NEWSWIRE) -- PetVivo Holdings, Inc. (OTCQB: PETV, PETVW), a leading provider of biomedical therapeutics for equines and companion animals, has appointed Mike Eldred as the Company's Commercialization and Operations Advisor. His appointment as an Executive Director by the Company's Board of Directors draws upon Mr. Eldred's 30 years of executive experience in animal health and the veterinary industry to ramp up its product development and sales efforts.
For the past 20 years, Mr. Eldred served as President of North American Operations for Dechra Pharmaceutical, a global specialist in veterinary pharmaceuticals. He built Dechra's North American subsidiary from the 'ground up' to become one of the fastest growing companies in the industry, with more than 250 employees and revenue in excess of $400M.
'Mike's experience and proven record of business achievement in the animal health market brings to our Board a valuable resource for achieving our business goals,' PetVivo CEO, John Lai. 'We anticipate his significant knowledge and extensive background in the veterinary space will help drive and accelerate the growing adoption of Spryng.'
Prior to Dechra, Eldred held senior positions in business development, sales and operations at Virbac Corporation, Fort Dodge Animal Health and Sanofi Animal Health.
Eldred commented, 'I have closely followed PetVivo over the past few years, and I'm impressed with the company's growth strategy and their innovative veterinary medical device - Spryng™, with OsteoCushion Technology. I'm excited to take a more active role at this pivotal time to help the company grow and expand the usage of Syrnge in the US equine and companion animal markets.'
Spryng is an intra-articular injectable veterinary medical device composed of sterilized, extra-cellular matrix microparticles that have been found to adsorb onto the joint synovial lining of animals and subsequently integrate with the animal's subsynovial tissue.
Such action promotes the restoration of proper joint mechanics, thereby aiding in the management of noninfectious sources of joint pain such as joint instability, degenerative joint disease and osteoarthritis.
In multiple independent clinical studies, Spryng has been shown to improve the medical outcomes of animals suffering from lameness and other joint related afflictions.
Mike Eldred Bio
Eldred previously served as President of North American Operations at Dechra. He joined Dechra in 2004 and was responsible for Dechra Veterinary Products' North American business. He was Dechra's first employee in the U.S., where he built the North American subsidiary to more than 250 people and sales in excess of $450M.
He was involved in more than 15 commercial agreements and acquisitions for Dechra, including Pharmaderm, DermaPet, Phycox Animal Health and Putney.
Prior to Dechra, he served as Director of Business Development and Corporate Business Unit at Virbac Corporation, an animal health pharmaceutical company. At Virbac, he directed and coordinated all acquisition, divestiture, licensing agreements, and business alliances strategic to the company. He was involved with such acquisitions as King Pharmaceutical's animal health products and Delmarva Laboratories.
He previously served as Virbac's Director of Supply Chain and Customer Service, where he reduced order turnaround time from five days to one day as well as improved customer fill rate form 70% to 98%.
Earlier, he served as director of Asia Pacific Poultry & North America Planning and Distribution at Fort Dodge Animal Health, a leading global manufacturer of animal health products for the livestock, companion animal, equine, swine, and poultry industries.
He also previously held senior positions at Garmin International and Sanofi Animal Health.
Eldred holds a BA in business from the University of Northern Iowa, and an MBA from University of Missouri-Kansas City.
A revolutionary veterinary medical device that is transforming joint health for animals nationwide. The unique injectable medical device has garnered widespread attention for its effectiveness in the management of osteoarthritis and other musculoskeletal conditions.
In multiple independent clinical studies, Spryng has been shown to improve the medical outcomes of animals suffering from lameness and other joint related afflictions.
By mimicking and reinforcing natural joint cartilage, Spryng represents a highly effective, drug-free option for veterinarians looking for long-term solutions that can improve the mobility and quality of life for equines and companion animals.
The increasing success of Spryng is reflective of the fast-growing U.S. animal health market, which is projected to double to $11.3 billion by 2030.
For more information about Spryng, please contact [email protected] or visit petvivo.com and sprynghealth.com.
To learn more about PetVivo as a publicly traded company, contact John Lai at [email protected].
About PetVivo Holdings
PetVivo Holdings, Inc. (OTCQB: PETV, PETVW) is a biomedical device company focused on the manufacturing, commercialization and licensing of innovative medical devices and therapeutics for equines and companion animals. The company is pursuing a strategy of developing and commercializing human therapies for the treatment of equines and companion animals in capital and time efficient ways. A key component of this strategy is an accelerated timeline to revenues for veterinary medical devices that can enter the market much earlier than more stringently regulated human pharmaceuticals and biologics.
PetVivo has developed a robust pipeline of products for the medical treatment of animals and people, with a portfolio of 21 patents that protect the company's biomaterials, products, production processes and methods of use. The company's commercially launched flagship product, Spryng™ with OsteoCushion™ Technology, is a veterinarian-administered, intra-articular injectable designed for the management of lameness and other joint related afflictions, including osteoarthritis, in cats, dogs and horses.
For more information about PetVivo and its revolutionary Spryng with OsteoCushion Technology, email [email protected] or visit petvivo.com or sprynghealth.com.
Disclosure Information
PetVivo uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor the company's Investor Relations website, in addition to following the company's press releases, SEC filings, public conference calls, presentations and webcasts.
Forward-Looking commercial Statements
The foregoing information regarding PetVivo Holdings, Inc. (the 'Company') 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 to 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, 2024 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.
Company Contact
John Lai, CEO
PetVivo Holdings, Inc.
Tel (952) 405-6216
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