WESTON, Fla., Sept. 14 /PRNewswire-FirstCall/ -- American Scientific Resources, Inc. (the Company), is excited to announce that it has acquired the intellectual property to the world’s only FDA approved home needle destruction device (NDD), the Disintegrator(TM) and Disintegrator Plus(TM) (U.S. Patent No. 6,384,362 Patent Application No.: 09/500,504) (the “Device Technology”).
As part of the agreement, all current contracts and future sales and contracts pertaining to the Device Technology are the sole property of ASR. Rights to such sales are worldwide with the exception of a single licensing agreement covering the European Union region where Safeguard pays a consulting royalty on sales.
ASR’s plan is to introduce the product commercially in the fall/winter of 2009. The Disintegrator enables patients who give themselves injections, including those suffering from multiple sclerosis or diabetes, to properly and safely dispose of needles at home. The EPA and the American Diabetes Association approve the device.
Safeguard delivered a purchase order for 5000 units to one of the world’s leading healthcare enterprises in March of 2009; since then, the global enterprise has placed an additional order for 2000 units which American Scientific Resources will fill. Safeguard practices a form of just-in-time productivity, matching production to its needs based on order size. Production is planned to ramp up by year’s end with full production capability exceeding 25,000 units per month.
“Given the need in the US for a safe way to dispose of sharps, we are hopeful that the Disintegrator will eventually become a trusted household name,” continues Dr. Tirotta.
About American Scientific Resources, Inc.
American Scientific Resources, Inc. is a holding company for two wholly owned subsidiaries, Kidz-Med, Inc. and Heart Smart System. The Company’s objective is to locate and acquire innovative health and safety products that are successfully sold abroad, and to introduce and promote them to the North American market.
Safe Harbor
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
American Scientific Resources, Inc.
