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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Eternity Healthcare, Inc.    ETAH

ETERNITY HEALTHCARE, INC.

(ETAH)
Delayed Quote. Delayed OTC Bulletin Board - Other OTC - 01/19 09:30:28 am
0.0004 USD   -77.78%
2018ETERNITY HEALTHCARE INC : SPLIT: 3.5 of 1
FA
2017Eternity Clears Product Development Hurdle
GL
2017Wellmei Mold of Hong Kong Chosen as Lenis® Nozzle Manufacturer for Eternity
GL
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Wellmei Mold of Hong Kong Chosen as Lenis® Nozzle Manufacturer for Eternity

01/30/2017 | 09:31am EST

PHOENIX and VANCOUVER, B.C., Jan. 30, 2017 (GLOBE NEWSWIRE) -- Eternity Healthcare Inc. (OTC:ETAH), announces  it has signed a Development and Manufacturing Agreement with Wellmei Mold Company of Hong Kong (http://www.wellmei.com/indexen.html) for manufacturing nozzles for its needle-less syringes. Wellmei will provide roughly 30% in-kind support for the project, significantly lowering out of pocket costs for Eternity.

“We were delighted to contract with a partner such as Wellmei who not only has the proven manufacturing capability but the confidence in Eternity to absorb internal costs related to manufacturing our needle-less injector 'nozzles'. These are costs we would otherwise have born but Wellmei shares the same vision of an enormous potential for our product that we do,” said, Dr. Salari, President  & CEO of Eternity.

The initial production will consist of prototyping and testing the nozzles, which will be tested both physically and clinically for durability and performance. Once completed, Wellmei will design large scale commercial production molds to be submitted for regulatory approval.

“We chose Wellmei because they can easily scale up production to millions of nozzles per year, making them an ideal partner. Wellmei Mold is a multinational mold manufacturer with clients such as BD, Phillips, Gillet, Edgewell, etc. with proven experience in large scale manufacturing,” said Dr. Salari, “Our prototype manufacturing and development of the nozzles will take between 3-4 months to complete, after which we shall proceed to large scale production and regulatory approval.

“The Lenis® Needle-Free Injection system is comprised of four major components.  With the second component having received CE Certification, we are looking forward to approval of the remaining two. This will then proceed to regulatory approval, a process which typically requires a minimum of 6 months.

“We believe Lenis® will revolutionize medical injections, removing patient fear of needles along with substantial reduction in cost per injection. The injection systems market was estimated at $9.8 Billion for 2016 and expected to grow at 15.5% until reaching $20.17 Billion in size by 2021. Unlike our competition, our design allows for delivery of higher doses, meaning Lenis® could be used with traditional needles and syringes used worldwide. We’re confident we have a superior technology,” said Dr. Salari.

Needle-Free Injection System Applications
The Needle-Free Injection system can be used for a vast variety of injectable medications, and supplements. These include injection of Insulin for diabetes, injection of vaccines such as flu vaccine and many others, injection of steroids, vitamins, human growth hormones, infertility medications and a vast number of cancer drugs. Further applications such as injection of epinephrine might replace Auto-Injectors such as Mylan’s Epipen®.

Benefits of Needle-Free Injection System
The Needle-Free injection system has many advantages over the existing needle injection. These include being environmentally friendly and reducing the risk of accidental poking and cross contamination. Further, the Needle-Free Injection device is good for children and people with needle phobia. It is easy to discard the used syringes as well as to recycle them.

About Eternity Healthcare
Eternity Healthcare or the “Company” (OTC:ETAH) is a healthcare company with technologies in medical devices. Our most advanced product is a Needle-Free Injection system known as Lenis®.  Our products are targeted for use by the healthcare professionals, physicians and consumers directly. More information on Eternity Healthcare, visit the Company’s website; www.eternityhealthcare.com
           
Safe Harbor Statement
This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as ETAH or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

Investors Contact:
Mark Gundy
(972) 240-1873

Company Contact:                        
Dr. Salari                                           
President & CEO
(604) 324 -1113
hassansalari@eternityhealthcare.com                                                                                         
info@eternityhealthcare.com

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© GlobeNewswire 2017
All news about ETERNITY HEALTHCARE, INC.
2018ETERNITY HEALTHCARE INC : SPLIT: 3.5 of 1
FA
2017Eternity Clears Product Development Hurdle
GL
2017Wellmei Mold of Hong Kong Chosen as Lenis® Nozzle Manufacturer for Eternity
GL
2017Lenis® Receives Next Regulatory Certification
GL
2017Milestone Certification Achieved for Eternity Healthcare's Lenis® Device
GL
2016Eternity Healthcare Moves to Next Stage Regulatory Approval Phase with Lenis®
GL
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Managers and Directors
NameTitle
Weitao Wang Chairman, President, CEO & CFO
Allen Yuan Investor Relations Contact
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