MedPro Safety Products Signs Letter Of Intent With Specialty Pharmaceutical Company
LEXINGTON, Ky.--(BUSINESS WIRE)--MedPro Safety Products, Inc. (OTCBB:MPSP), a leading developer of transformational technologies that enable safer medication delivery and blood collection, today announced it has signed a letter of intent with a specialty pharmaceutical company for licensing MedPro's Drug Delivery Platform. The companies will work together over the next couple months on the terms of a definitive agreement.
"The unique, truly automatic, passive safety sharps for which we are known are now part of a platform solution for pharmaceutical companies that offers greater safety for patients, clinicians and their community"
The Drug Delivery Platform consists of four elements, a primary container, a passive safety syringe, an intravenous shuttle and a multi-dose cartridge vial. The primary container holds medication and can be filled by a pharmaceutical company using its existing equipment. The passive safety syringe is a fully automatic and fully passive safety sharp into which the primary container can be inserted to inject the medication without concern for needlestick injuries, due to the syringe's shield which automatically covers the needle after use. The primary container can be inserted into the intravenous shuttle to administer the medication through any standard intravenous line. The primary container may also be inserted in the multi-dose cartridge vial to allow the medication to be accessed for injection in smaller doses from the same primary container.
The combined features of the platform provide greater patient safety, primarily by helping ensure proper dosing, as well as clinician and community safety by preventing needlestick injuries and the potential spread of bloodborne pathogens. The platform offers pharmaceutical companies greater efficiency by using one primary container for multiple uses.
"The unique, truly automatic, passive safety sharps for which we are known are now part of a platform solution for pharmaceutical companies that offers greater safety for patients, clinicians and their community," said Wm. Craig Turner, Chairman and CEO of MedPro. "By offering three different ways to use one primary container we are presenting a uniquely efficient platform, which has not been available until now."
About MedPro Safety Products, Inc.
Headquartered in Lexington, Kentucky, MedPro Safety Products, Inc. is a leading developer of safer medication delivery and blood collection systems. The Company licenses, develops and manufactures transformational technologies marketed through its global medical device partners. MedPro's products address multiple product categories within the medication delivery (injection and infusion) and blood collection (blood collection sets and blood tube holders) markets. Unlike competitive products currently available on the market, MedPro's products incorporate safety features that operate without user activation, and therefore require little or no clinician training to use. The total global market opportunity for safer medication delivery and blood collection products is believed to be more than $6 billion. For additional information, please refer to the 'Investor Relations' link on the Company's website (www.medprosafety.com).
Safe Harbor Statement
This release includes forward-looking statements based upon current expectations of the management of MedPro Safety Products, Inc. that involve risks and uncertainties, such as plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward- looking statements as a result of a number of factors, including our ability to identify and acquire medical safety device safety technologies with product development potential; our ability to successfully develop and bring products to market, including obtaining regulatory approvals; our ability to successfully increase sales of our products; our ability to obtain additional financing on satisfactory terms; our ability to attract and retain qualified employees; and governmental regulation associated with the medical safety products industry. Words such as "anticipate," "estimate," "plan," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions are used to identify forward-looking statements. We refer you to the more detailed discussion of risks and uncertainties under "Risk Factors" in our Annual Report on Form 10-K and our other reports on file with the Securities and Exchange Commission.
Doug Sherk/Jenifer Kirtland, 415-568-9349 (Investor Contact)
Christopher Gale, 646-201-5431 (Media Contact)