CLIFTON, NJ / ACCESSWIRE / February 29, 2016 / mPhase Technologies, Inc. (OTC: XDSL), announced today that the recent Notice of Allowance for a patent covering a Smart Drug Delivery System generated interest at The National Investment Banking Association (NIBA) conference in Hollywood, FL. The inquiries from the presentation titled "A Challenging Journey from Smart Batteries to Smart Drug Delivery Systems" along with the Notice of Allowance for the patent has driven the company to begin the process of forming a 100% wholly owned subsidiary with the sole intention of developing a new and novel Electronic Smart Drug Delivery System. The drug delivery system is based on mPhase’s award winning Smart Nano Battery Technology.
mPhase will license the intellectual property rights for it's Smart Drug Delivery to the wholly owned subsidiary. It is then planed that the subsidiary will conduct a "Testing the Waters" campaign in order to gauge investor interest in its novel Smart Drug Delivery System. Such activity will be pursuant to and in full compliance with Regulation A of the Securities Act of 1933, as amended under Regulation. Certain issuers are permitted to conduct a cost- effective "testing of the waters" with all potential investors using solicitation materials both before and after the offering statement is filed, subject to issuer compliance with the rules on filing and disclaimers.
The patent allows for an automatic dispensing of a pre-set dosage of a drug agent or medication. The field of invention relates to a drug delivery system that generally includes a housing having one or more reservoirs; each having a medical agent hermetically sealed therein. A membrane extends across each of the one or more reservoirs which is adapted to allow the medical agents to pass there through in response to external stimuli, such as physical puncturing, melting the membranes through use of heating elements or electrowetting in response to a voltage pulse. A wicking material extends across the membranes through which the medical agents are dispensed to a patient. Because the housing can be made flat, the overall dispensing device can be reduced in size, allowing the drug delivery device to be located and attached to broader areas of the patient’s body for expanded medical applications and treatment.
About mPower Technologies
mPower Technologies Inc. is the wholly owned consumer products subsidiary of mPhase Technologies, Inc. More information about the company can be found at www.mpowertech.com.
About mPhase Technologies, Inc.
mPhase Technologies Inc. (XDSL), a 2013 Frost and Sullivan recipient for the North American Advanced Battery Technology Innovation Award. mPhase Technologies is a publicly traded company (XDSL) that is pioneering a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery, still in development. More information about the company can be found at www.mPhaseTech.com.
Forward-Looking Statements
As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.
Contact:
Danielle LaSalle 973-256-3737
Email: dlasalle@mPhasetech.com
SOURCE: mPhase Technologies, Inc.