Safetymed is currently engaged in the development of a unique...

Safetymed is currently engaged in the development of a unique range of safe retractable syringes and medical products. The safety syringe system is designed as a genuine single-use syringe which retracts within its own sleeve cartridge after use. Dosage delivery remains extremely accurate and the companies quality control technologies comply with the standards set in the general health market for such products.

On 28th April 2005, the Company entered into a Strategic Alliance Agreement with the large medical products distributor Exelint International Co. of the USA for the manufacture and production of the Securetouch safety syringe in Korea, and for the exclusive sale and distribution of the product in the United States, Japan, Germany and the United Kingdom.

The technology and intellectual property embodied within the Securetouch safety syringe was devised and re-engineered over the past four years, with several prototype changes and made specifically at the direction of Exelint to address the requirements of these large overseas markets. Patents are pending in 126 countries, and the range is to be marketed under the Securetouch brand, with production targets and sales commitments of 50 million units per year to be achieved by April 2008 and agreed minimum increases thereafter of 10% per annum.

The syringes comprise a unique range of single-use safety and retractable syringes with genuine single-use action. The syringe enables extreme accuracy of dosage delivery and in the action of administering the dose the syringe is drawn into and secured within a unique polypropylene sleeve after use. With proven technology developed in Australia, the Securetouch will be positioned to address the very serious global problem of needle-stick injuries, especially with diabetics and repeat users, at very low unit cost.

Safetymed’s cutting-edge syringe technology can be used in all conventional needle manufacturing segments, both conventional medical hypodermic syringes and for repeat-user markets. The Securetouch safety syringe was designed with diabetic users in particular taken into consideration, thus resulting in the integration of a unique magnification feature that increases the size of the numbers on the syringe by more than 25%.

The Company is also looking to produce its Meditag temperature control product for sales into the Australian and worldwide medical and health industries. The Company holds the worldwide rights to the technology for the temperature-control of the product known as the Meditag, a product that monitors the storage and handling of temperature sensitive products. The Meditag can be applied to a large number and variety of products and quality assurance requirements within the medical, health, pharmaceutical, veterinary and cosmetics sectors, such as pharmaceuticals and medicines, vaccines, blood supplies, supplements, skin creams and beauty products, natural and alternative products where temperature control is necessary.

The Meditag is expected to be manufactured in Australia at very low and economic cost. The Company considers the scope of the application for its Meditag product to be of enormous potential and the market to be growing, given the stricter product standard and quality assurance controls now operating in Australia and around the world and provides leading edge quality control monitoring and cost benefits to its end-users.

The Company is seeking to raise a minimum $4 million in equity to fund commercialisation, production and marketing of the Securetouch safety syringe in the USA, UK, German and Japanese markets through Exelint of the USA, and Australian and Asia-Pacific markets through their Head Office here in Australia.

The raising will also allow monies to be utilized to support and promote the development and production of other medical products within the group, such as Meditag, and further product development as appropriate.