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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: October 06, 1998 - Commission File No. 0-17746
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SAFE TECHNOLOGIES INTERNATIONAL INCORPORATED
(Formerly Safe Aid Products Incorporated)
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(Exact name of Registrant as specified in its Charter)
Delaware 22-2824492
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(State or other jurisdiction of (IRS Employer ID No.)
incorporation or organization)
249 Peruvian Avenue
Suite F2
Palm Beach, Florida 33480
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(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code: (561) 832-2700
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* On February 9, 1998, Safe Aid Products Incorporated merged with and into
Intelligence Network International and was renamed Safe Technologies
International Incorporated.
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<PAGE>
Item 5. Other Events
The Company issued a press release today announcing that it had
entered into a License Agreement with Hangzhou Jiuyuan Gene Engineering Co.,
Ltd., located in the state-grade Hangzhou Economic & Technological
Development Zone, P.R. China for the production and distribution of SFAD's
Nasal Aspirin Patent. The information contained in the press release, a
copy of which is attached hereto as Exhibit 99.1 is incorporated herein by
reference.
<PAGE>
Signatures
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SAFE TECHNOLOGIES INTERNATIONAL INCORPORATED
By: /s/ Barbara Tolley
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Barbara Tolley, CEO & Chairman
Dated: October 6, 1998
[logo]
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
SFAD SIGNS NASAL ASPRIN AGREEMENT WITH CHINESE COMPANY
Palm Beach, FL., October 6, 1998, Safe Technologies International,
Inc.,(SFAD) announced today that it has entered into a License Agreement with
Hangzhou Jiuyuan Gene Engineering Co., Ltd., located in the state-grade
Hangzhou Economic & Technological Development Zone, P.R. China for the
production and distribution of SFAD's Nasal Aspirin Patent. The patent relates
to a novel method of administering aspirin to achieve improved delivery, via
nasal administration. The product is especially effective in delivering
faster pain relief due to entering the bloodstream more rapidly and for longer
periods of effectiveness with a lack of any irritation. Nasal aspirin is
particularly effective in the treatment of migraine, cardiovascular damage
resulting from heart attack, and acute pain, such as post-operative pain.
Hangzhou Jiuyuan (http://www.china-gene.com) has a modern facility
specializing in research, development, production and marketing of
pharmaceuticals based on gene-engineering and biochemical technologies.
Hangzhou Jiuyuan, a 70 million RMB company with 212 employees, has developed
two important products, to date: JILIFEN, a stimulating injection drug
designed to increase white bloodcell count and JIPAILIN, a heparin-sodium
injection, anticoagulant and antithrombotic drug. Their extensive Research
Institute facility, staffed and co-established with Beijing University and
Jiuyuan and Zhejiang University has the ability to organize preclinical and
clinical trials and file new drug applications. Currently, they process, and
can independently manage the process of, developing genetically-engineered
drugs from cloning objective genes, construction of engineered bacterium, cell
cultures, protein purification to dosage manufacture and setting up quality
standards.
"We are very pleased to license our Nasal Aspirin Patent, with such a
prestigious research and development institute as Hangzhou Jiuyuan," reported
Barbara Tolley, Safe Technologies' CEO. The Agreement provides SFAD a most
unique opportunity for bringing the product to market. We are very aware of
the huge market potential for pharmaceutical products in the China market, a
potential of over One Billion people. This market will be larger than the
European market, in its entirety, by the Year 2000."
Although specific details of the agreement were not disclosed, Ms. Tolley said
that "an Exclusive Agreement with extension provisions for the territory of
the Pacific Rim has been entered into with Hangzhou Jiuyuan, which would
permit them to complete the field testing and move into production and
distribution of the product. SFAD will receive a percentage of all Gross
Sales of the Nasal Aspirin Delivery System product produced and marketed by
Hangzhou Jiuyuan". Ms. Tolley also reports that the company is looking for
other strategic partners for the nasal aspirin in Latin America, Europe, and
the United States.
Safe Technologies International, based in Palm Beach, Florida, is a multi-
faceted company with multiple areas of concentration: Internet products,
services, and Directories; Marketing, Advertising, Digital Pre-Press Graphics
and Printing; customized PC systems and networks; Heath-Care/Wellness and Real
Estate products, services, and software.
SOURCE: Safe Technologies International, Inc.,(SFAD)
CONTACT: Brad Tolley VP Investor Relations
TEL: 561-832-2700
EMAIL: [email protected]
HTTP:// www.safetechnologies.com
Forward-Looking Statements: Except for the historical information contained
herein, this news release may contain forward looking statements within the
meaning of Section 27A of the Securities Act of l934, as amended, that may
involve risks and uncertainties, including those relating to the availability
of suitable financial resources, the availability of management, unproven
market for SFAD's products and services as well as other risks detailed from
time to time in the Company's SEC reports, including reports on Form 10KSB for
the year ended November, 1997 and Form 10-QSB for the quarter ended June 30,
1998.
