Sharps Technology Ships First Containers of Safety Syringes to Nephron Pharmaceuticals for Commercialization

First product shipped from Sharps' facility in Hungary and first to support the Nephron Pharmaceuticals distribution and sales collaboration

Sharps anticipates 1.3 million units to be commercially available in February 2023 with additional shipments to follow and new products to be added

NEW YORK , Jan. 31, 2023 (GLOBE NEWSWIRE)– Sharps Technology, Inc. (the “Company”, "Sharps") (NASDAQ: “STSS” and “STSSW”), an innovative medical device and drug delivery Company offering patented, best-in-class syringe products, announces the first shipments of product from its wholly owned manufacturing facility in Hungary to Nephron Pharmaceuticals to advance the Company's first commercial operations.

Securegard is the first product that will be available to the market through the Company's collaboration with Nephron and will be introduced through Nephron’s network of more than 3,000 customers. Securegard is a vial draw product with innovative product features for safety, ultra-low waste and non-reuse that has been approved by the Food and Drug Administration (FDA), the World Health Organization (WHO), and received a CE Mark, facilitating global sales. Initial shipments will total 1.3 million 1-mililiter (1mL) units by February and will increase with additional volume and product configurations as sales commence.

Robert Hayes, Sharps Technology CEO, commented: "With the first shipments of Securegard underway to Nephron, we mark the beginning of commercial operations for Sharps. We are committed to executing on our manufacturing and distribution plan and through this shipment, the Company will transition to revenue in the first half of 2023. Securegard will be the first of many innovative syringe systems that Sharps launches in collaboration with Nephron, and we look forward to announcing updates on new products from our portfolio this year."

About Sharps Technology

Sharps Technology is a medical device and pharmaceutical packaging company specializing in the development and manufacturing of innovative drug delivery systems. The company’s product lines focus on low waste and ultra-low waste syringe technologies that incorporate both passive and active safety features. These features protect front line healthcare workers from life-threatening needle stick injuries and protect the public from needle re-use. Sharps Technology has extensive expertise in specialized prefilled syringe systems and ready to use processing. The company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the US. For additional information, please visit www.sharpstechnology.com.

Forward-Looking Statements:

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