JERUSALEM, January 26, 2011 /PRNewswire-FirstCall/ -- Medisafe 1 Technologies Corp. (OTCBB: MFTH), a developer of patented technologies that physically prevent unauthorized administration of prescription medications, announced today that the company intends to begin development of a barcoded system to confirm the origin and authenticity of prescription medications. The product is aimed at reducing ingestion of counterfeit medications.

The concept behind the system is to enable both prescription drug manufacturers and pharmaceutical retailers to confirm that appropriate and authentic medications are delivered to patients.

Counterfeit medications are a continuously growing phenomenon. The World Health Organization predicts that annual counterfeit drug sales will soon reach $75 billion worldwide.

It is estimated that 10 to 25 percent of all drugs sold in developing countries are either counterfeit or stolen. In countries such as China, South Korea, Russia, Uzbekistan, India and South America about 50 percent of all drugs sold are believed to be counterfeit.

"It is estimated that 200,000 people die each year from ingesting counterfeit medications," said, Jacob Elhadad, CEO of Medisafe 1 Technologies. "The counterfeit market is incredibly large and pharmaceutical companies are losing billions of dollars to counterfeit sales while patients in need of medication are at significant risk."

"Developing products that ensure that appropriate medications are administered to a patient is the mission on Medisafe 1 Technologies," Elhadad added.

About Medisafe 1 Technologies

Medisafe 1 Technologies seeks to effectively prevent unauthorized administration of a drug or medicinal substance by hypodermic needle. Medisafe's patented technology is a medical assembly with a locking mechanism that is intended to ensure the substance cannot be released from the hypodermic needle without positive pre-matching between the substance and its intended patient.

Forward-Looking Statements

This letter contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All forward-looking statements are inherently uncertain, based on current expectations and assumptions concerning future events or future performance of Medisafe 1 Technologies Corp., and its technologies. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, as actual results may differ materially from those indicated. Medisafe 1 Technologies Corp. public filings may be viewed at http://www.sec.gov.



    Contact:
    Jacob Elhadad
    CEO
    +972-524440000
    Jacob.elhadad10@gmail.com

SOURCE Medisafe 1 Technologies Corp.