TORONTO, Jan. 20, 2009 (GLOBE NEWSWIRE) -- Pro-Tect, Inc. (Pink Sheets:PRTT) has completed its acquisition from Medivices Corporation of all of Medivices' manufacturing, marketing and distribution rights related to certain nanotechnology method used in medical measurement devices in skin treatment and cosmetics. The acquisition includes all patent and proprietary rights and property related to the technology. In consideration for the acquisition, Pro-Tect has issued 2.5 million shares of its common stock.
The acquired Medivices technology involves designing, marketing and manufacturing new innovative medical devices using Nanomedicine and Micro-ElectroMechanical Systems ("MEMS"). Nanomedicine is the medical use of molecular-sized particles to deliver drugs, heat, light or other substances to specific cells in the human body. Engineering particles to be used in this way enable detection and/or treatment of injuries within the targeted cells, thereby minimizing the damage to healthy cells in the body. Micro-ElectroMechanical Systems allow both electronic circuits and mechanical devices to be manufactured on a silicon chip, similar to the process used for integrated circuits. This allows the construction of items using sensor chips with built-in electronics that are a fraction of the size that was previously possible.
As a result of the acquisition, Pro-Tect intends to oversee the development and manufacturing of the Medivices products and to facilitate the marketing and distribution of the products.
About Pro-Tect, Inc.
Pro-Tect, Inc. specializes in the development and commercialization of technologies through its sale, license or transfer. We specialize in restructuring technology for maximum valuation and acquisition. We provide the deliverables required to achieve highest quality and profitability. Our technology base ranges from simple products to very sophisticated solutions. We identify, vet and secure strategic partners, establish joint ventures and teaming relationships. In addition to actively search and identification of the strategic candidates, we build contractual relationships.
For further information about this release and Pro-Tect, Inc. please contact: Richard Rusiniak at (416) 617-6050 or you may write to info@prtt-inc.com
This news release may contain certain forward-looking statements and information concerning Pro-Tect's business, operations and financial condition. These statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors. The information set forth herein should be read in light of such risks and uncertainties. We assume no duty or obligation to update these statements at any future date.