Our latest Quarterly Update is on an innovative company developing safer products for medicine delivery and blood collection. MedPro Safety Products, Inc. (MPSP-OTC) possesses a medical device technology designed to prevent needlestick injuries, since skin punctures by a hypodermic needle, syringe, or other sharp can expose people to bloodborne pathogens.
MedPro focuses on devices with passive safety features that deploy without the need for user activation, and therefore require little or no training to use. With a product portfolio that includes traditional and prefilled safety syringes, insulin pen safety needle sets, and blood collection devices, MedPro estimates that it is addressing a market opportunity in excess of $6 billion.
The Company has a global distribution agreement with a major medical device company for three phlebotomy products: two models of a passive safety blood collection system and a passive safety butterfly collection set. The blood collection products received 510(k) market clearance in late 2010 and CE Mark from the EU in 2011. In the second half of 2011, MedPro also began developing and commercializing a drug delivery platform, which the Company is now marketing to potential partners. Importantly, MedPro holds 10 U.S. patents, 16 foreign patents, and 18 pending applications (12 foreign applications).
The full 16-page update is available for download here.
The update covers MedPro's introduction of a new hypodermic safety syringe, as well as a drug delivery platform that includes prefilled cartridges and an innovative IV delivery device; the Company's broadened focus from safety sharps to devices that enable greater patient safety; recent management appointments; U.S. market for infection prevention products and services; and MedPro's strategy for seeking out development and commercialization partners.