MedPro Safety Products updates on its recent progress

MedPro Safety Products, Inc. (OTCBB: MPSP), a pioneer in the development and marketing of passive needlestick injury prevention technology, today reported on the Company’s recent progress.

The recent highlights include:

• Executed a Letter of Intent regarding the commercial development of the fourth product in MedPro’s current patent portfolio. Negotiations are ongoing and the Company currently expects that it will execute a definitive agreement with its potential partner prior to year-end. The product is outside of the phlebotomy marketplace.
• Entered into an exclusive agreement with Advanced MedTech (AMT). AMT is wholly owned by Hooman Asbgahi, the inventor of several of MedPro’s products. Under this agreement, AMT will provide MedPro with R&D, market research, product design and development, engineering and other product services as directed by MedPro. MedPro has the first right of refusal to all intellectual property in which Mr. Asbaghi has an interest and in all products that he develops. This includes several new passive medical device designs, including a passive catheter that the Company is currently negotiating to purchase from Mr. Asbaghi.
• MedPro continued to develop its Winged Safety Blood Collection Set, and has delivered high-quality, pre-market prototypes to its customer for evaluation. The Winged Safety Blood Collection Set is a small venous access device utilized in infusion and blood collection. The Winged Safety Blood Collection Set will be manufactured, marketed and distributed by a premier international manufacturer and supplier of medical products under an exclusive agreement that provides minimum volume guarantees.
• Continued final product testing of the Tube-Touch blood collection device. This will be the final step required for the release of this product for human use and the initiation of high volume production for market distribution. The Company entered into an exclusive agreement with a premier international manufacturer and supplier of phlebotomy and pre-analytic products who will manufacture, market and distribute the two models of the passive blood collection system, with plans to begin marketing in the first quarter of 2010. MedPro’s world-wide distribution and manufacturing partner has agreed to minimum volumes for both models of the system over the next five years.
• Continued to explore strategies to improve the liquidity and value of MedPro’s common stock.

“One in seven healthcare workers is accidentally stuck by a contaminated needle each year in the US,” said Craig Turner, MedPro Chief Executive Officer. “This high level of incidence can translate into $1 million or more per-case in expenditures for testing follow-up, lost time and disability payments. We are making significant progress to address these problems with the development of our proprietary and patented needlestick technology products and are well on our way to being a revenue generating company in 2010. Given the structure of our minimum guarantee contracts, our revenue stream is expected to generate high gross margins and will position us to achieve profitability at a relatively low cost to market.”