SOURCE: Milestone Scientific, Inc.
LIVINGSTON, NJ--(Marketwired - December 02, 2013) -
Milestone Scientific Inc.
(OTCQB: MLSS), a leading medical research and development company that designs and patents innovative injection technology, is pleased to announce its Milestone Medical, Inc. subsidiary has successfully listed and commenced trading on the Warsaw Stock Exchange under the ticker "MMD" (WARSAW: MMD). This listing follows the recent financing conducted by WDM with $3 million raised from European investors for a post-money valuation of approximately $33 million.
The Warsaw Stock Exchange is the largest national stock exchange in Central and Eastern Europe and one of the fastest growing exchanges in Europe. The WSE offers a variety of products and services within its trading markets of equity, derivative, fixed income and structured products in addition to distributing market data. It is one of the most recognizable Polish financial institutions worldwide. Trading and stock information on Milestone Medical is available online at: http://www.gpwinfostrefa.pl/GPWIS2/pl/emitents/news/MILESTONE,USU6005B1045,1,current,1,1
Leonard Osser, CEO of Milestone Scientific, Inc., stated, "We see the Warsaw listing as an important step for our subsidiary, Milestone Medical, Inc. With this latest funding and listing now complete, and with a key strategic partner in place, we look forward to executing on our plans to bring the epidural and intra-articular instruments to market. Moreover, we accomplished all this while minimizing dilution for Milestone Scientific shareholders. We appreciate the strong support we have received from European investors, which further validates our strategy. We are now pursuing worldwide distribution channels for these two products and we look forward to bringing additional medical products to market in the future."
Milestone Medical, Inc. has developed epidural and intra-articular drug delivery systems based on patented, painless, computer-controlled injection and drug delivery technology from Milestone Scientific, Inc. Development of both the epidural and intra-articular instruments is now complete and the Company is currently pursuing marketing clearance for both instruments in the United States and European Union markets.
About Milestone Scientific Inc.
Milestone Scientific Inc. (OTCQB: 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. The epidural and intra-articular medical instruments are currently investigational in the US.
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, 2012. 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.