JERUSALEM, December 2, 2010 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that that company has fully completed development of its locking syringe device.
The company has received significant interest in utilizing, manufacturing, and marketing the life-preserving device. Deliberations are currently ongoing with multiple entities following Medisafe 1 Technologies' participation in the Medica and HealthAchieve Conferences this past month.
Medisafe 1 Technologies intends to begin licensing the technology to commercial entities during the first quarter of 2011.
"Within just a few months, Medisafe 1 Technologies has been able to develop a commercially viable product for the multi-billion dollar healthcare industry," said, Jacob Elhadad, CEO of Medisafe 1 Technologies.
"The locking device has garnered significant interest from noteworthy entities, who are interested in employing our technology in hospitals to reduce loss of life through avoidable human errors, and in turn reduce hospital operating expenses.
"We look forward to entering the commercial phase of the product lifecycle," Elhadad added.
About Medisafe 1 Technologies
Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.
This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.
Contact: Jacob Elhadad CEO +972-524440000 Jacob.firstname.lastname@example.org
SOURCE Medisafe 1 Technologies Corp.