POTENTIAL RESIDENT OF LOTOS SEZ

This was announced at the meeting of the supervisory board of Lotos Special Economic Zone headed by the Governor of the Astrakhan Oblast Aleksandr Zhilkin. As active stage of engagement of residents into the Special Economic Zone (SEZ) goes on, the core agenda of the meeting was to discuss business plan of the High-Tech Manufacturing of the Third Generation Autodestruct Injection Syringes project presented by MedInTech LLC.

Noteworthy, Lotos SEZ, PAO and MedInTech LLC had signed a Letter of Intent.

The Project proposes manufacturing of the third generation autodestruct injection syringes. The syringes allow minimizing risk of pathogen transmission (AIDS, hepatitis, tuberculosis, syphilis, and other blood-transmitted infection agents) from infected patient to medical personnel and people processing medical waste.

The syringe design completely prevents possibility of reusing: after a single shot the needle retracts into the syringe body automatically.

According to MedInTech LLC's General Director Ramazan Faiziev, the future manufacturing facility is going to produce and supply syringes to the healthcare institutions across the entire Southern Federal District. There are 52 healthcare providers in the Astrakhan Oblast alone. Additionally, the products will be distributed through regional drug stores.

It is planned to start manufacturing in June 2017. By that time the Project needs to be approved by federal authorities.

It should be noted that today there is no production of the third-generation syringes in Russia, which means that at the early stage of the manufacturing facility operation its products are going to complete with domestic manufacturers of the second-generation syringes and imported products.