NOTE: This company now trades as GeneSYS ID, Inc. (OTCQB: GNID).
Rx Safes Announces New Patent License Agreement
Company Agrees to License IP to Manufacturer and Seller of Fingerprint Products
HENDERSON, NV–(Marketwired – Jan 27, 2016) – Rx Safes, Inc. (OTCQB: RXSF), a healthcare technology company and developer of autonomous fingerprint healthcare security products, today announced that it has entered into a licensing agreement with Talon Brands, LLC., a manufacturer and seller of fingerprint products, for the rights to sell various fingerprint technology products in North America.
The licensing agreement is the first for Rx Safes and validates the strength of the Company’s intellectual property portfolio. The agreement also introduces a new source of revenue for the Company outside of the core healthcare market focus. Under the terms of agreement, Talon Brands may continue to sell certain types of biometric locking products in North America and will pay Rx Safes a per unit licensing fee. Talon Brands will become a preferred distributor of other Rx Safes’ products and introduce Rx Safes products through its existing and established distribution channels, such as Grainger and The Home Depot. The Company will also offer its patented fingerprint technology interface and expertise to assist Talon in developing new and innovative fingerprint products, which will be added to the licensing agreement.
“The execution of this agreement recognizes and validates the company’s intellectual property and expands our reach beyond our primary healthcare target market. We anticipate that we will continue to be able to support and protect our proprietary patented technology as the demand for biometrics increases across a wide range of industries. We look forward to recognizing the addition to our revenue stream as a result of this agreement and remain focused on creating additional opportunities for the company in order to increase shareholder value,” commented Lorraine M. Yarde, Chief Executive Officer of Rx Safes.
Glenn McGinnis, CEO of Talon Brands, stated, “We appreciate the opportunity to be able to swiftly license Rx Safes’ technology so as not to disrupt our business. Furthermore, Rx Safes’ experience with fingerprint technology and presence in the market will create additional opportunities for the development and marketing of new products to enhance security in a variety of consumer and commercial applications”
About Rx Safes, Inc.
Rx Safes is medical device and healthcare technology company, and is an emerging leader in the personal and professional healthcare drug security market. Our products incorporate proprietary patented fingerprint technology to provide drug security solutions for use in homes and healthcare facilities. Prescription drug misuse, skyrocketing insurance and pharmaceutical treatment costs and increased regulatory pressures create an unfortunate, yet necessary opportunity for Rx Safes to expand our reach and offerings in this growing market, valued at over $50 billion annually. Annual spending on healthcare technology products exceeds $34.5 billion. In addition, the market is being driven by ongoing Government support for successful drug abuse prevention initiatives, with a financial commitment of $25.4 billion in 2015 alone. For more information, please visit www.rxdrugsafe.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission.
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