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Milestone Scientific Receives CE Mark Approval for Intra-Articular Instrument
LIVINGSTON, NJ--(Marketwired - September 15, 2014) - Milestone Scientific Inc. (OTCQB: MLSS), a medical R&D company that designs, patents, incubates and commercializes a growing portfolio of innovative injection technologies, today announced that its subsidiary, Milestone Medical, has received CE Mark regulatory approval to market and sell its intra-articular instrument in Europe.
Leonard Osser, Chief Executive Officer of Milestone Scientific stated, "Receipt of regulatory approval in Europe for this instrument is validation of our technology and allows our subsidiary to move forward with its plans to commercialize the technology in Europe. Our subsidiary is now in the process of evaluating potential strategic partners to distribute its intra-articular instrument in Europe. We believe we are well positioned to enter this multi-billion dollar market since conventional injections are painful, a problem eliminated with our instrument, and not always efficacious, as doctors often fail to locate the intra-articular space or use inappropriate volumes of hyaluronic acid."
Milestone's injection technology is based on a patented Dynamic Pressure Sensing® system (DPS®), intended to measure the density of body tissue and thus help a clinician know the location of a hypodermic needle during an injection. The system utilizes computer controlled technology to provide real-time feedback to the medical practitioner and identify with precision when a needle has reached the location where a drug should be administered to a patient. It has the added advantage in other applications of controlling the pain that patients typically associate with injections.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a leading medical research and development company that designs and patents innovative injection technology. Milestone's computer-controlled systems make injections precise, efficient, and virtually painless. For more information please visit our website: www.milestonescientific.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2013. The forward looking statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contact:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020
Source: Marketwired (September 15, 2014 - 7:30 AM EDT)
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