TULSA, Okla., Aug. 9, 2005 (PRIMEZONE) -- Maxxon, Inc. (PinkSheets:MXON) ("Maxxon"), a growing medical products designer, manufacturer, and distributor concentrating on innovative safety devices which will have a price advantage over many competitors in the medical products arena, is pleased to announce that pursuant to its joint venture with Globe Medical Tech plans to place an order for 300,000 of its new safety scalpels, the ReTrac Automatic Retractable Safety Scalpel with Permanent Lock ("ReTrac Scalpel").
The order will fill existing back orders for the ReTrac Scalpel, as well as provide samples for several medical device distributors. The container with 300,000 scalpels is scheduled to be delivered in the beginning of November to the joint venture at Globe Medical Tech's Houston warehouse. The order is subject to available funds, customs inspections, weather issues, and other delays typical to international manufacturing and shipping.
The ReTrac Scalpel is one of several safety scalpels, including disposable scalpels, plastic scalpels with disposal blades, scalpels with spring loaded retractable blades, scalpels with flip covers, retractable blades with slider buttons, fixed blades with sliding caps, and other safety techniques which immediately protects the contaminated blade, however Maxxon and Globe Medical Tech believe that the ReTrac Scalpel is the first safety scalpel that utilizes a permanent lock function. The permanent lock function is critical because it prevents the reuse of the contaminated scalpel. Globe Medical Tech has quoted the manufacturing price of the ReTrac Scalpel to be competitive with current retractable safety scalpels.
Globe Medical Tech filed a patent application with the United States Patent and Trademark Office for the ReTrac Scalpel on April 25, 2005 and their Foreign License was granted on June 1, 2005. Globe Medical Tech has assigned Maxxon 50 percent of this patent as an addition to the joint venture. The companies will file a joint Patent Cooperation Treaty Application. The countries that are signatories to the treaty include China, Japan, Australia, Korea, the Russian Federation, and the European Patent Office (countries in the European Economic Community).
"The ReTrac Scalpel is likely to become one of our signature products and considering the global market for this technology is estimated to be at about 300 million units per year, I suspect we're going to get some orders. I also see this as a product which will present some strong cross sales opportunities," stated Ron Wheet, CEO of Maxxon.
About Maxxon
Maxxon is a development stage company committed to reducing the risk of accidental needlestick injuries and deaths to healthcare workers. Maxxon's 3 cc safety syringe, presently in development, is designed as a single-handed, vacuum-operated safety syringe that retracts the used needle into the syringe after use. For more information on Maxxon, please go to www.maxxoninc.com.
About Globe Medical Tech
Globe Medical Tech, Inc. is a high-tech medical safety and drug delivery products developer and manufacturer based in Houston, Texas, with a clean-room manufacturing presence in China. Globe has marketed its products in the U.S. and around the world, providing the medical industry with innovative low-cost, high-quality medical products. Globe's team has accumulated valuable integration experience for medical devices, while establishing itself as a cost effective operator in the medical device industry. Whether under the company's brand name, or under a private label, Globe has a history of effectively integrating patent development, research, and engineering design capabilities. For more information on Globe, please go to www.globemedtech.com.
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This press release contains some forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business. Those uncertainties are discussed in Maxxon's SEC filings.