Background & Strength
Safetymed is engaged in the development of a unique range of retractable syringes which provide for automatic retraction of the syringe within the sleeve cartridge after use and genuine single-use of the unit with extreme accuracy of dosage delivery.
Safetymed has developed its Fully Automatic Single-use Safety Syringe over the past four years, since its inception in 2001. The 'Syringesafe Safety Syringes', to be assembled and packaged at the Exelint manufacturing plant and clean room facility in Korea for international sales, are unique in that they are made by utilizing current standard syringes and retrofitting a spring loaded polypropylene sleeve to them thus transforming them into genuine single use safety syringes. The 'sleeve' is owned and patent applied for by Safetymed.
A new manually operated retracting model of the syringe sleeve specifically designed for the diabetes market has also been an early development initiative for the company. On 28 April 2005, the Company entered into an Alliance Agreement with Exelint of the USA to manufacture the 'Securetouch' manual safety syringe and exclusive rights to distribute the syringe to their already well established markets and customers in the United States, Japan, Germany and the United Kingdom, and to specifically address the diabetes markets in those countries.
The technology and intellectual property of the Company's syringe has been continually updated, improved and re-engineered over the past four years, with several recent prototype changes made specifically at the request and direction of Exelint to address the specific requirements of these large overseas markets. Patents are pending in 126 countries worldwide, and sales commitments on the Securetouch safety syringe have been agreed with the US major, Exelint, of 25m units in the first year after market launch, 50m units in the second year have been agreed with the US major, Exelint, of 25m units in the first year after market launch, and 50m units in the second year, and increasing by a minimum 10% per annum thereafter.
Safetymed’s Securetouch safety syringe has the following competitive advantages:
- First and only Australian safety syringe maker with an overseas production facility and marketing and distribution network in place for USA, UK, Germany and Japan
- Full general range of standard cannula sizes
- Simple, low-cost design, strong patent applications with no objections
- Will manufacture and own its plant and production/assembly assets in Korea
- Strategic Alliance with US major, Exelint International, to manufacture and distribute in key major overseas markets
- Guaranteed sales by Exelint
With proven technology developed in Australia over the past four years, Safetymed is positioned to address the very real and serious world problem of needle-stick injuries.
The Company also holds the rights to the technology and product known as the Meditag in respect of the medical and health, pharmaceutical, veterinary and cosmetic sectors worldwide. Meditag is a temperature control product that monitors the storage and handling of temperature sensitive products. The Meditag can be applied for a large number of requirements in the designated sectors and to a vast array of products.
Meditag is to be manufactured in Adelaide at very low and economic cost. The Company considers the scope of the application for its Meditag product to be of enormous potential in a growing market, and provides leading edge quality control and cost benefits to its end-users.
