MINNEAPOLIS, MN--(Marketwire - 01/14/10) - Protectus Medical Devices, Inc. ("Protectus Medical Devices") (OTC.BB:PTMD - News), a developer and marketer of innovative medical devices, today announced the signing of a three-year manufacturing agreement with Moll Industries, Inc. to provide injection molded plastic manufacturing services for the Protectus Safety Syringe.
"This is a major milestone for Protectus Medical Devices and is a critical step in creating the infrastructure for moving the Company forward," said Dr. John Salstrom, President and CEO of Protectus Medical Devices. "I am pleased to report that we have completed our negotiations with Moll Industries and have signed a comprehensive manufacturing agreement for the production of the Protectus Safety Syringe. As one of the premier plastic molders in North America, Moll Industries will be able to support us through the various phases of our manufacturing process as we look to ramp-up production of the Protectus Safety Syringe and introduce the device to hospitals and healthcare institutions across the country and, eventually, worldwide. We believe that Moll's extensive knowledge of injection molding, and specifically their expertise in manufacturing medical devices, will allow the Company to bring our innovative hypodermic safety syringe product to market quite cost-competitively."
Moll Industries has been providing solutions for the medical industry for over thirty-five years and has full FDA Compliance, TS and ISO 13485 Certification. With injection molding machines ranging from 25 to 600 tons, and clean room assembly and automation, Moll Industries supplies molded and finished devices to the medical markets in the United States and Europe. (Source: Moll Industries, Inc.)
As one of the most experienced global injection molders and full-service contract manufacturers, Moll forms strategic partnerships to deliver high-quality products manufactured with cost-effective process optimizations. Moll utilizes Six Sigma engineering expertise and Lean Manufacturing to yield maximum results for customers' unique objectives. (Source: Moll Industries, Inc.)
Dr. Salstrom added, "We are confident that the 'manufacturing-friendly' design of the Protectus Safety Syringe, together with the manufacturing expertise of Moll Industries, will ultimately allow the Protectus device to be priced at the low end of the spectrum on the distributor level as production is scaled up."
The Protectus Safety Syringe is the only fully automatic, self-sheathing safety hypodermic syringe that currently meets all U.S. Federal Government and OSHA mandates designed to protect both healthcare workers and patients alike. It is designed to significantly reduce or eliminate accidental needlestick injuries that have plagued the healthcare workplace for decades. More information about Protectus Medical Devices may be found at the Company's corporate website at www.protectusmedical.com.
About Moll Industries, Inc.
Moll Industries is one of the top Medical Device Providers in the US with expertise in plastic product development and manufacturing. With over 35 years of experience in the medical industry, Moll offers solutions across multiple medical device segments, including fluid and drug delivery systems. Moll operates five medical plants across two locations in the US and Ireland. Experienced medical device professionals deliver solutions across the full value chain ranging from design and engineering to clean room manufacturing, sterile barrier packaging, and sterilization management. For more information, please visit www.mollindustries.com.
About Protectus Medical Devices, Inc. (formerly, E-18 Corp.)
Protectus Medical Devices, Inc. (OTC.BB:PTMD - News) (formerly, E-18 Corp.), through its wholly owned subsidiary, SquareOne Medical, Inc., develops and markets innovative safety medical percutaneous devices that, collectively, have the potential to dramatically reduce needlestick injuries for medical professionals worldwide. In the nearly $5 billion global hypodermic syringe market, the Protectus Safety Syringe, the Company's lead product, is the only fully automatic, self-sheathing hypodermic safety syringe that currently meets the functional definition of "Self-Sheathing" mandated by the U.S. Federal Government. None of the manufacturers of other devices on the market can make this claim. Protectus Medical Devices has successfully patented its automatic, self-sheathing hypodermic safety syringe product, and, based on the results of full comparison clinical trials, the Protectus Safety Syringe (formerly the SquareOne Safety Syringe) has received the required 510(k) permission from the U.S. FDA to manufacture and market the device in the U.S. More information about the Company may be found at www.protectusmedical.com.
Forward-Looking Statements
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause the business and financial results of Protectus Medical Devices, Inc. to differ materially from those currently anticipated, including the risk factors identified in Protectus Medical Devices, Inc.'s filings with the Securities and Exchange Commission.
Contact: Protectus Medical Devices, Inc. John Salstrom President and CEO 1-800-778-8438 moreinfo@protectusmedical.com Moll Industries, Inc. Kevin Andrews CEO 1-972-383-8014 Kevin.Andrews@mollindustries.com
