Company Looks to Expand IP Protection With Filings for International Patents
MINNEAPOLIS, Nov. 10, 2015 (GLOBE NEWSWIRE) -- Skyline Medical Inc. (NASDAQ:SKLN) (NASDAQ:SKLNU) announced today that as part of its international expansion strategy the Company is in the process of filing national stage patent applications for the technologies and processes applied in its flagship product, the STREAMWAY® System. The initial applications are being applied for in Canada and select European countries.
The patents cover innovative technology to allow for direct-to-drain fluid waste disposal and allows the system to provide continuous suction to the field and unlimited waste fluid capacity.
The filing of these patents in individual countries follows the Company’s completion of a patent review process by the Patent Cooperation Treaty (PCT), which has already issued a Written Opinion (“WO”) from the International Searching Authority (“ISR”) regarding all 23 of Skyline’s claims. The PCT application gives the Company prior art claims in 148 different countries.
Josh Kornberg, CEO of Skyline Medical, said, “We are excited to implement these steps forward in our strategy to expand commercial activities into major international markets and establish Skyline Medical as a market leader in medical waste management. Since entering the US market, the STREAMWAY System has proven itself to be a safer, more efficient and cost effective waste fluid management system for medical facilities.”
The STREAMWAY System can be installed in any facility, eliminating costly medical waste disposal and all of the direct and indirect handling risks. As a result, the facility and its employees will not need to purchase, dispose of or handle surgical fluid canisters. The fully automated STREAMWAY System improves efficiency in the operating room and procedure room, leading to faster turnover times, a more productive staff and ultimately greater profitability.
About Skyline Medical Inc.
Skyline Medical Inc. produces a fully automated, patented, FDA-cleared, waste fluid disposal system that virtually eliminates staff exposure to blood, irrigation fluid and other potentially infectious fluids found in the healthcare environment. Antiquated manual fluid handling methods — which require hand carrying and emptying filled fluid canisters — present an exposure risk and potential liability. Skyline Medical’s STREAMWAY System fully automates the collection, measurement and disposal of waste fluids and is designed to: 1) reduce overhead costs to hospitals and surgical centers, 2) improve compliance with Occupational State and Health Association (OSHA) and other regulatory agency safety guidelines, 3) improve efficiency in the operating room, and radiology and endoscopy departments — leading to greater profitability, and 4) provide greater environmental stewardship by helping to eliminate the approximately 50 million potentially disease-infected canisters that go into landfills annually in the United States. For additional information, please visit: www.skylinemedical.com.
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