LIVINGSTON, NJ--(Marketwired - July 06, 2016) - We are advised by Milestone Scientific Inc. that the third sentence of the second paragraph has been changed. Complete corrected text follows.
Milestone Scientific Announces Completion of Pilot Study and Final Report by Cornell University College of Veterinary Medicine on Milestone Scientific's Computer-Controlled Injection and Drug Delivery Instrument
LIVINGSTON, NJ -- July 5th, 2016 -- Milestone Scientific Inc (NYSE MKT: MLSS) today announced that Cornell University College of Veterinary Medicine completed its pilot study and final report on the Company's computer-controlled injection and drug delivery technology. This was a controlled pilot study of 10 animals to determine the efficacy of using the CompuFlo® technology to identify a specific target when performing a maxillary foramen block in a horse. The study was conducted by Dr. Luis Campoy, Associate Clinical Professor in Anesthesiology and Analgesia and follows an earlier preliminary study conducted in 2015.
The pilot study confirmed that Milestone's CompuFlo® instrument can identify a target with a high level of accuracy using the instrument's Dynamic Pressure Sensing® (DPS) capability. In this study, the target was properly identified in all subjects on the first attempt. The study was conducted in conjunction with a letter of intent between Milestone Medical, Inc. and Mila International Inc, a major distributor of medical instrumentation for animals.
Milestone's patented technology regulates and controls the flow rate of fluid, minimizing tissue damage and allowing for painless injections. The Dynamic Pressure Sensing® (DPS) capability provides in-tissue pressure feedback. DPS provides medical practitioners with the ability to identify pressure signatures for the different tissue types and inject drugs at precisely the right location, eliminating guesswork. Additionally, the disposable injection handpiece allows for precise tactile control during an injection.
Dr. Luis Campoy commented, "The Compuflo® system performed as expected with a high level of accuracy and offered additional feedback while performing a maxillary foramen block in the horse. This device also has potential as a training tool for clinicians learning to perform this or similar blocks in which having tissue tactile feedback is of paramount importance, such as epidural injections in dogs, retrobulbar injections in horses, etc."
Leonard Osser, CEO of Milestone Scientific Inc., commented, "We are pleased to report the findings of this pilot study on horses, which further validates our earlier studies using Milestone's DPS® technology. Importantly, this study illustrates the potential of our instrument across a wide range of veterinary applications."
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a medical R&D company that designs, patents, incubates and commercializes a growing portfolio of innovative injection technologies. 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, 2015. 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.