The stage order marks the first commercial income for the technology of sharp objects under the syringe agreement of 500 million people
Investments in the best category manufacturing equipment position sharp objects to provide production of high -term high volume syringes to meet the long -term contract demand
New York, April 30, 2025 (Globe Newswire) – Sharps Technology, Inc. (NASDAQ: “STSSW” and “STSSW”) (“Sharps”), an innovative business and pharmaceutical packaging company offering Smart -Smart -Samart health products to the health industry in a health industry in a health industry. This marks the first order under the supply agreement of $ 50 million previously announced from July 2024.
“This order represents a transformer moment for the technology of sharp objects while we are starting to generate income and provide our commitment to shareholders,” said Robert Hayes, Managing Director of Sharps Technology. “Our strategic partnership is now going from the agreement to the execution phase, this initial command serving as the basis for accelerating the volume in the upcoming neighborhoods. Our Hungarian manufacturing plant is fully prepared to deliver these first orders of SOLOGARD SYRENGE compatible with pumps.
The prescription triggers the historic agreement announced in July 2024, under which sharp objects will provide around 500 million personalized sologard syringes of 10 ml to the American supplier of medical saltworks and aquatic products over a period of five years. The agreement is expected to generate around $ 50 million in income during its duration.
Retling objects have been strategically invested in advanced production technology for the manufacture of sologard and will soon start installation and operational qualification to support increased production capacity. The obligations continue to work in close collaboration with the customer to finalize the qualification of the products and optimize the production processes to meet the growing demand provided under the agreement.
Braden Miller, vice-president of product management and programs at Sharps, concluded: “Our strategic investment in precision molding and advanced automation thanks to partnerships with Husky medical molds fueled by Schöttli and BBS automation demonstrates our unwavering commitment to the manufacture of efficiency. Technologies, we provide precision, performance and sustainability to our new generation syringe manufacturing platform.
About sharp objects technology:
Sharps technology is an innovative company of medical devices and pharmaceutical packaging offering patented syringe products and best-security in the best category in the health care industry. The company’s product ranges focus on the supply of ultra -low waste capabilities, which incorporate syringe technologies that use passive and active safety functionalities. Retling objects also offers products designed with specialized copolymer technology to support the preflable syringe market segment. The company has a manufacturing plant in Hungary. For more information, please visit www.sharpstechnology.com.
Prospective declarations:
This press release contains “prospective declarations”. Prospective declarations reflect our current point of view on future events. When used in this press release, the words “anticipate”, “believe”, “believe”, “wait”, “future”, “consider”, “plan”, “ready” or the negative of these terms and similar expressions, with regard to us or our management, identify prospective declarations. These statements include, but without limiting themselves, the statements contained in this press release concerning our commercial strategy, our future operating results and liquidity and the prospects for capital resources. Prospective declarations are based on our current expectations and hypotheses concerning our business, our economy and other future conditions. Since prospective declarations concern the future, they are subject to uncertainties, risks and changes in circumstances that are difficult to foresee. Our real results may differ materially from those envisaged by prospective declarations. These are neither historical de facto statements nor guarantees of future performance insurance. We therefore warn you to count on one of these prospective declarations. Important factors that could ensure that real results differ significantly from those of prospective statements include, without limitation, our capacity to raise capital to finance continuous operations; Our ability to protect our intellectual property rights; the impact of any infringement actions or other disputes that have been submitted to us; competition from other suppliers and products; our ability to develop and market products and services; changes in government regulations; our ability to carry out capital lifting transactions; and other factors relating to our industry, our operations and our operations results. Real results may differ considerably from those that have been planned, raw, estimated, expected, doomed or planned. The factors or events that could defer our real results can emerge from time to time, and it is not possible for us to predict them all. We cannot guarantee future results, activity levels, performance or achievements. The company assumes no obligation to update prospective declarations in order to reflect any event or circumstance which may occur after the date of this version.
Investor contact:
Holdworth Partners
Adam Holdsworth
Telephone: 917-497-9287
E-mail: Ir@sharpstechnology.com
