SOURCE: Milestone Scientific, Inc.

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March 27, 2018 08:55 ET

Milestone Scientific's CompuFlo® Epidural Instrument Receives License to Sell in Canada

LIVINGSTON, NJ--(Marketwired - March 27, 2018) - Milestone Scientific Inc . (NYSE American: MLSS) (NYSE MKT: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that Health Canada has issued a medical device license for the CompuFlo® Epidural Computer Controlled Anesthesia System ("CompuFlo® Epidural").

The CompuFlo® Epidural provides anesthesiologists and other providers the ability to quantitatively determine and document pressure at the needle tip, in real-time. The Dynamic Pressure Sensing Technology™ (DPS) allows the CompuFlo® Epidural to provide objective visual and audible in-tissue pressure feedback that allows anesthesiologists to identify the epidural space.

Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, commented, "Receiving a medical device license in Canada is another important step in our global roll-out strategy. Over the past year, we have been primarily focused on building relationships with key opinion leaders around the world. At the same time, we are lining up distributors in major markets throughout North America and Europe. Importantly, we expect to see the results of our trials published in leading industry journals later this year, which should help further accelerate our commercial rollout."

About Milestone Scientific Inc.

Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone's proprietary DPS Dynamic Pressure Sensing technology® is our technology platform that advances the development of next-generation instruments, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra-articular joint injections. 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, timing of regulatory approvals 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, future business decisions and regulatory developments, 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 our inability to raise capital when needed which may force us to delay, curtail or eliminate commercialization efforts of our CompuFlo® Epidural Computer Controlled Anesthesia System, reliance on informal arrangements with third parties to manufacture our products, maintenance of product quality, product acceptance and use by physicians, developments by competitors, inability to defend our patent, adverse patent rulings, the extent to which reimbursement will be available, FDA or legal developments, general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, changes in customer and market requirements and standards, and the other 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, 2016. 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 Natalya Rudman
    Crescendo Communications, LLC
    Email: mlss@crescendo-ir.com
    Tel: 212-671-1020