New York, NY, Feb. 06, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- mPhase Technologies, Inc. (XDSL) (“the Company”) is pleased to inform shareholders that it has entered into substantive discussions with a global pharmaceutical company (“Pharma Company”) to explore the use of the mPhase smart surface technology for transdermal drug delivery. The Pharma Company currently has more than 549 registered pharmaceutical products and operates in 68 countries.
The mPhase drug delivery technology relies on the same nanotechnology platform that powers the Company’s Smart Nanobattery, and uses electronic or other external stimulus to dispense an unattended, predetermined quantity of drug or medical agent through a smart surface membrane. The system is highly flexible and adaptable, allowing for pre-programmed dosing of a drug agent for hospital and outpatient wearable applications.
mPhase and the Pharma Company are exploring which products could be enhanced through this new form of delivery. The current expectation is that mPhase would complete the development of the device for commercial use and the Pharma Company would spearhead approval of the device as well as the distribution in the countries where they do business outside of the U.S.
“We are excited to begin the process of vetting our technology with a company that has successfully completed almost 800 drug approval filings on five continents,” explained mPhase CEO Anshu Bhatnagar. “This is the first of multiple partner candidates we have lined up to accelerate the development of our portfolio of promising technology. We are sharing this information with shareholders simply to highlight the process we intend to follow, to find experienced global partners with an interest in utilizing our technology within their established markets.”
In order to help investors, partners and customers track the company’s expansion, the Company intends to post ongoing operational updates, including photos, on its Twitter feed @mPhase_Tech.
About mPhase Technologies, Inc.
mPhase Technologies, Inc has historically engaged in technology R&D, with a particular emphasis on long-life, battery cell technology. The Company is currently transitioning into a consumer-oriented technology and services company.
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