Ritract Limited is pleased to announce that it has been granted an Australian patent for its retractable safety syringe technology.
The granting of this Australian patent provides additional support for our technology platform and allows the Company to develop a range of solutions around this world class platform. As previously announced the Company has been advised that its application for a US patent has been allowed and will move to grant shortly.
The Ritract syringe patent is pending in a further 31 countries including key countries in Europe and Asia. Over the coming months the Patent Offices in these markets are expected to follow the lead set by Australia and the United States.
This patent is an important addition to the existing portfolio of patents held by the Company and marks a vital step in advancing the Company’s intellectual property strategy to acquire safety technology in the medical devices sector.
Ritract’s intellectual property portfolio now includes 4 patents, all of which have been granted in Australia and 3 granted in the US with one pending grant. An additional 4 International patent applications have been made and are at the PCT stage. In addition, our IP portfolio includes the trademark Ritract®, a registered trademark.
Ritract Limited Managing Director, Rupert Northcott said “It is very reassuring to have patents granted protecting the Company’s technology assets, allowing us to develop the technology with increased confidence and reduced risk for shareholders. The timing of this patent is excellent as we are about to commence commercial sales of our approved and now patented product.”