SOURCE: Milestone Scientific, Inc.

Milestone Scientific

June 30, 2015 07:30 ET

Milestone Scientific's Epidural & IA Subsidiary Commences First Shipments of Epidural Instrument in Europe

LIVINGSTON, NJ--(Marketwired - June 30, 2015) - Milestone Scientific Inc. (NYSE MKT: MLSS), a medical R&D company that designs, patents, incubates and commercializes a growing portfolio of innovative injection technologies, today announced that its Epidural & Intra-Articular (IA) Subsidiary has commenced the first shipments of its CompuFlo™ Epidural Instrument to distributors and key opinion leaders in Europe.

Leonard Osser, Chief Executive Officer of Milestone Scientific, stated, "Since receiving CE Mark marketing clearance for our epidural instrument, our Epidural & IA Subsidiary has been in negotiations with distributors in a number of countries in Europe and, as previously announced, signed an exclusive agreement with TRIMED Sp.z.o.o., one of the largest distributors of diagnostic equipment in Poland. TRIMED has purchased a small number of instruments, initially for internal use and training purposes as it ramps up for a formal launch later this year. The CompuFlo™ Epidural Instrument will be launched through a combination of channels, including medical conventions, direct selling to anesthesia departments at public hospitals and private clinics, and a comprehensive marketing initiative to highlight the global and local clinical work underway."

Mr. Osser continued, "Earlier this month our Epidural & IA Subsidiary signed a distribution agreement with Moss S.p.A., one of the leading distributors of diagnostic and specialty surgery equipment in Italy, with shipments expected to commence in the next few weeks. Over one million epidurals are administered in Italy each year which makes Italy another viable market for these instruments. Moss' demonstrated ability to successfully bring innovate medical products to market will help accelerate our entrée into the Italian marketplace."

Mr. Osser continued, "While CE Mark marketing clearance enables distributors to sell product in Europe, many health systems require further clinical trials before fully adopting a product. The strategy of our Epidural & IA Subsidiary is to start by introducing the epidural instrument to key opinion leaders in target markets that will demonstrate and help publicize the efficacy of the instrument. At the same time, our Epidural & IA Subsidiary is advancing the North American clinical trials, which will provide further validation. In the meantime, the Epidural & IA Subsidiary is actively lining up additional distributors in other European countries and we look forward to announcing these in the coming months."

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 instruments are designed to 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, 2014. 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