Full Press Release Details
Signs Development Agreement with STERIS
EDGE, NJ - March 23, 2010 - Nephros, Inc. (OTC Bulletin Board: NEPH), a medical
device company developing and marketing filtration products for therapeutic
applications, infection control, and water purification, today reported that is
has entered into a development agreement with STERIS Corporation (NYSE:
terms of the agreement, Nephros and STERIS will jointly develop filtration-based
products for medical device applications. Nephros received an initial
payment upon entering into the agreement and is eligible to receive additional
payments upon successful completion of product development
is investigating a range of commercial, industrial and retail opportunities for
its DSU technology," said Ernest Elgin, President and CEO of
Nephros. "We are pleased to be working with STERIS to leverage our
expertise in additional applications. STERIS is a leader in the field
of medical device sterilization, and we look forward to developing new products
together to enhance patient safety."
Nephros received 510(k) marketing approval from the FDA for the Dual Stage
Ultrafilter (DSU) to be used to filter biological contaminants from water and
bicarbonate concentrate used in hemodialysis procedures. In August
2009, Nephros reported that it was awarded a new research contract from the U.S.
Office of Naval Research ("ONR") for development of a portable dual-stage
mission of STERIS Corporation is to provide a healthier today and safer tomorrow
through knowledgeable people and innovative infection prevention,
decontamination and health science technologies, products and services. The
Company has approximately 5,000 dedicated employees around the world working
together to supply a broad array of solutions by offering a combination of
equipment, consumables and services to healthcare, pharmaceutical, industrial
and government Customers. The Company is listed on the New York Stock Exchange
under the symbol STE. For more information, visit www.steris.com.
Inc., headquartered in River Edge, New Jersey, is a medical device company
developing and marketing filtration products for therapeutic applications,
infection control, and water purification. The Nephros DSU is the
basis for the Nephros line of water filtration products. The patented dual stage
ultrafilter has the capability to filter out bacteria and, due to its
exceptional filtration levels, filter out many viruses, parasites and
information about Nephros, please visit our website at
in this news release that are not historical facts constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995 (the "PSLRA"). Such statements may be preceded by words such as "may,"
"plans," "expects," "believes," "hopes," "potential" or similar words. For such
statements, Nephros claims the protection of the PSLRA.
statements are not guarantees of future performance, are based on assumptions
and are subject to various known and unknown risks and uncertainties, many of
which are beyond Nephros' control. Actual results may differ materially from the
expectations contained in the forward-looking statements. Factors that may cause
such differences include the risks that Nephros may not be able: (i) to obtain
additional funding when needed or on favorable terms; (ii) to continue as a
going concern; (iii) to obtain appropriate or necessary governmental approvals
to achieve its business plan or effectively market its products; (iv) to have
its technologies and products accepted in current or future target markets; (v)
to demonstrate in pre-clinical or clinical trials the anticipated efficacy,
safety or cost savings of products that appeared promising to Nephros in
research or clinical trials; or (vi) to secure or enforce adequate legal
protection, including patent protection, for its products. More detailed
information about Nephros and the risk factors that may affect the realization
of forward-looking statements is set forth in Nephros' filings with the SEC,
including Nephros' Annual Report on Form 10-K for the fiscal year ended December
31, 2008. Investors and security holders are encouraged to read these documents
on the SEC's website at http://www.sec.gov/. Nephros does not undertake to
publicly update or revise its forward-looking statements as a result of new
information, future events or otherwise except as required by law.