SOURCE: Milestone Scientific, Inc.

Milestone Scientific, Inc.

March 31, 2015 11:45 ET

Milestone Scientific Signs Letter of Intent With MILA International to Market and Distribute a Novel Instrument for Equine Maxillary Nerve Blocks

LIVINGSTON, NJ--(Marketwired - March 31, 2015) - 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 it has signed a letter of intent with Kentucky-based MILA International Inc., a global marketer and distributor of veterinary products, to collaborate on the development, commercialization and distribution of an anesthetic delivery instrument for maxillary nerve block procedures in horses. The initial research and clinical validation will be conducted by Dr. Luis Campoy at Cornell University College of Veterinary Medicine.

The terms of distribution will be negotiated following the clinical validation. Milestone plans to develop and manufacture the instruments. MILA International plans to market and distribute the instruments, as well as develop the training and promotional programs.

Leonard Osser, Chief Executive Officer of Milestone Scientific, commented, "Our affiliation with MILA International would be our first commercial foray into the $24 billion global animal health industry and we view MILA as an ideal partner given its established presence in the marketplace and its quality reputation."

There are more than 4,000 equine practitioners in North America. General anesthesia carries very high risk for equine patients with documented mortality rates of 1%. Milestone's technology can improve safety and efficacy by allowing these procedures to now be performed without pain and under standing sedation.

About MILA International Inc.

MILA is a leading provider of critical care and surgical veterinary products exclusively focused on meeting the needs of the veterinary market. For over 25 years, MILA International has worked with veterinary institutions, veterinarians, and technicians around the world to develop and commercialize high quality customized and affordable products designed to enhance care. This collaboration will allow MILA to broaden its product offering in the area of veterinary pain management. 

About Milestone Scientific Inc.

Milestone Scientific Inc. 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 Information

  • Contact:
    David Waldman or Klea Theoharis
    Crescendo Communications, LLC
    Email: mlss@crescendo-ir.com
    Tel: 212-671-1020