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Medisafe 1 Technologies Finalises Contract to Develop Prototype of the World's First Ever Medicinal Syringe-Locking Device
Date:8/31/2010

. The device includes a syringe-locking mechanism that works in concert with a bar-code reader and database system.

The device electronically confirms whether the syringe held by a medical practitioner contains the correct medication and dosage that has been prescribed to a particular patient, before allowing that medication to be physically administered.

"Medication administration errors in hospitals cause 400,000 preventable drug-related injuries and 70,000 deaths each year," said Jacob Elhadad, Chief Executive Officer of Medisafe 1 Technologies. "The development of this patented locking-device prototype is the first step towards significantly reducing instances of such injuries."

"As the healthcare industry in the U.S. continues to mandate the usage of safer syringe technologies, including Barcoding Point of Care (BPOC) systems, Medisafe 1 Technologies are well positioned. Factoring the possibility of widespread implementation, the total potential addressable market for Medisafe's patented technologies could exceed $1 billion per year," Elhadad added.

About Medisafe 1 Technologies

Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospectiv
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