TGI Solar Power Group Inc. (OTC:TSPG) Stock Gains Momentum: Here is Why

This morning, investors could do well to keep an eye on the TGI Solar Power Group Inc. (OTC:TSPG) stock following a key announcement from its joint venture, BioVet GGT. The company had entered into that joint venture with BioVet Technologies, Inc. On Wednesday, BioVet GGT announced that it had been formed for the purpose of commercializing gene and cell therapies meant for the veterinary niche.

Additionally, it would also work on additional therapies and technologies specifically meant for the veterinary space. The Chief Executive Officer of TGI Solar Power Group, Henry Val, spoke about the development yesterday. He noted that everyone at the company believed that BioVet was the first commercial-scale effort to provide pet owners with access to unique autologous gene and cell therapies for their pets. He went on to note that the joint venture would not only be highly beneficial to pet owners and pets but also go on to create significant value for the company’s shareholders.

Val stated that in collaboration with BioVet, the company would create a platform through BioVet GGT that would provide a range of gene and cell therapy products. In this regard, it should also be noted that spending on pets has risen steadily in recent times. The spending in the United States in 2022 had been $136.8 billion. In 2023, the projected spending was $143.6 billion in sales.

The Chief Executive Officer of BioVet Technologies, Michael Handley, spoke about the development as well. Handley stated that the team at BioVet GGT had been working towards building a platform that would provide pet owners with artificial intelligence-powered targeted therapies. The management in place at the joint venture expects that it will implement the available licensed technologies and develop new ones, which will help in generating new revenues quickly.