Medisafe 1 Technologies Receives Endorsement for National Implementation From Israel's Pharmaceuticals Administration

^{Published on 2011-01-10 04:41:03 - Market Wire}
 

Medisafe 1 Technologies Receives Endorsement for National Implementation From Israel's Pharmaceuticals Administration -- JERUSALEM, January 10, 2011 /PRNewswire-FirstCall/ --

JERUSALEM, January 10, 2011 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company has received endorsement for the national implementation of its barcoded syringe locking device, from Israel's Pharmaceuticals Administration.

The endorsement was received as the final of a series of meetings with Health Ministry officials. The latest meeting was conducted with the Chief Technical Officer of Israel's Pharmaceuticals Administration.

The previous meeting was held with Directors of Israel's Health Ministry including Deputy Minister Yaakov Litzman. The Health Ministry portfolio is officially held by Prime Minister Benjamin Netanyahu.

Members of the Pharmaceuticals Administration were particularly pleased with the lifesaving benefits of the syringe-locking device, as well as the locking device's ability to reduce theft by individuals wishing to intentionally use or sell prescription medications.

Following official endorsement, Medisafe 1 Technologies has been in discussion with a leading Israeli pharmaceuticals company to partner in streamlining the production process the introduction of the device at Israeli Medical Centers.

The pharmaceuticals company also expressed interest in advancing the development of Medisafe 1 Technologies' proposed locking-device for blood transfusion bags.

"Officials across Israel's health system have been duly impressed with the potential of our locking devices to reduce hospital injuries and save lives, thus reducing the legal and insurance related costs associated with running hospitals," said, Jacob Elhadad, CEO of Medisafe 1 Technologies.

"We are now in serious discussions with the companies that will aid us toward full commercialization of our products."

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.

Forward-Looking Statements

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.elhadad10@gmail.com ]

SOURCE Medisafe 1 Technologies Corp.