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mPhase Technologies, Inc. Announces Strategic Discussions With Global Pharmaceutical Company

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. 

Safe Harbor Statement

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements.  All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved.  Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly.  Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission.  Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Contacts:

Investor Contact:

ir@mphasetech.com