Maxxon Announces Manufacturing and Development Agreement with Globe Medical Tech, Inc.Business Editors/Health/Medical Writers TULSA, Okla.--(BUSINESS WIRE)--Nov. 19, 2003 Maxxon, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :MXON) today announced that the Company has signed a manufacturing and development agreement with Globe Medical Tech, Inc. of Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . The agreement includes final manufacturing prototyping, the production of multicavity injection molds, preparation of an FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. 510(k) submission, and an initial run of ten million Maxxon Safety Syringes. After the initial run of ten million safety syringes, Maxxon's projected costs for a minimum order of one million safety syringes will be substantially less than the current market costs for retractable re·tract v. re·tract·ed, re·tract·ing, re·tracts v.tr. 1. To take back; disavow: refused to retract the statement. 2. safety syringes. Globe's production capacity for Maxxon's retractable safety syringe from one set of molds will be two million safety syringes per month. Globe estimates that production molds will be completed six to eight weeks after the project begins. The project is subject to Maxxon raising $1.4 million, of which 50% will be due when the project begins, 25% will be due upon receipt of FDA approval for the syringe, and 25% will be due after receiving the syringes. Globe Medical Tech, Inc. is a medical safety and drug delivery products developer and manufacturer based in Houston, Texas. For the past fifteen years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Globe team has accumulated valuable development and integration experience for the manufacturing of medical devices. Globe Medical Tech 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 Medical Tech has established itself as one of the most cost effective operations in the medical device industry by effectively integrating patent development, research, and engineering design capabilities with class 100,000 clean-room manufacturing and assembly facilities and integrated on-site sterilization sterilization Any surgical procedure intended to end fertility permanently (see contraception). Such operations remove or interrupt the anatomical pathways through which the cells involved in fertilization travel (see reproductive system). capabilities. All of Globe Medical Tech quality control inspections and testing are done by fully trained and qualified quality technicians. Testing includes physical, chemical & biological testing procedures that strictly adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. the FDA's Quality System Regulation. For additional information, visit the Globe Medical Tech, Inc. website at www.globemedtech.com. Maxxon is a development stage company committed to reducing the risk of accidental needlestick injuries needlestick injury Infection control The unintentional exposure of a health care worker to a needle used in direct Pt management. See Hospital-acquired penetration contacts, Sharps. and deaths to healthcare workers. Maxxon's Safety Syringe is a single-handed, vacuum-operated safety syringe that retracts the used needle into the barrel of the syringe after use. For more information visit the Maxxon website at www.maxxoninc.com or call Ron Wheet at (843) 971-4848. This press release contains some forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 the Company's SEC filings. |
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