SOURCE: Protectus Medical Devices, Inc.

July 15, 2010 08:30 ET

Protectus Medical Devices Issues Letter to Shareholders

MINNEAPOLIS, MN--(Marketwire - July 15, 2010) -   Protectus Medical Devices, Inc. (OTCQB: PTMD) (PINKSHEETS: PTMD), developer and marketer of innovative safety medical devices, has issued a letter to its shareholders. Click here to read the letter in its entirety. 

In the letter, Protectus President and CEO John S. Salstrom, PhD, stated:

  • The Notice of Allowance on the US patent for the the non-helical spring technology inherent in the entire family of all Protectus Safety Needle Devices means that the full patent will be issued no later than September 16, 2010, providing an additional 20 years of intellectual property protection in the US;

  • The Notice of Allowance has allowed Protectus to file this Safety Syringe patent with the Patent Cooperation Treaty (PCT) and Taiwan to provide patent protection in 142 countries while the Company begins to file in the individual countries;

  • Additional patent applications specifically covering the Safety Dental Syringe and the Safety IV Catheter/Cannula Introducer have been filed;

  • A patent application covering the Safety Phlebotomy Device will be filed shortly;

  • Also, Protectus has filed a patent on the Living Hinge Lock Collar that is used in these three devices, which will further protect each of them;

  • Protectus has identified two different, highly qualified, third-party manufacturers to produce its Safety Syringe at prices that will allow Protectus' products to be priced at the low end of the price spectrum for safety syringes already on the market; and

  • The Company has further contracted with Synergistic Medical Network, LLC, a national distribution network, to introduce and distribute the Protectus devices. With more than 150 highly-qualified, hospital- and office-based individual distributors, within all 50 states, Synergistic Medical is well-positioned to gain early clinical acceptance and market share.

Dr. Salstrom also wrote, "To give you some idea of what this means to you as a shareholder, the total US market for syringes is over eight billion units per year with less than one-third of these being 'safety' syringes. Because there are 600,000 to 1 million injuries (grossly under-reported figures, we believe) related to accidental needle sticks in the United States alone, we expect that proportion of safety syringes to rise as more and more healthcare workers demand truly effective safety devices in their clinics and hospitals."

To read the full text of the letter, visit: http://irgnews.com/coi/PTMD/Letter-To-Investors-And-Protectus-Medical-Devices-Inc-Shareholders

About Protectus Medical Devices, Inc. (formerly, E-18 Corp.)

Protectus Medical Devices, Inc. (PTMD, formerly, E-18 Corp.), operating 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 Information

  • Contact:
    John S. Salstrom, Ph.D.
    President and CEO
    Protectus Medical Devices, Inc.
    1-800-778-8438
    moreinfo@protectusmedical.com

    Investor Relations:
    The Investor Relations Group
    212-825-3210

    Adam Holdsworth or James Carbonara

    Public Relations:
    TransMedia Group
    J.P. Hervis
    561-750-9800 x217
    jp@transmediagroup.com