Milestone Scientific Signs U.S. Distribution Agreement for the CompuFlo® Epidural System with Medical Device Distributor Clinical Technology, Inc.
New distribution agreement follows successful trials with top anesthesiologists
LIVINGSTON, N.J., Oct. 23, 2018 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE: MLSS), a developer of computerized drug delivery instruments that provide painless and precise injections, today announced it has signed an agreement with Clinical Technology, Inc. (CTI), a leading specialty distributor of medical products in the mid-western region of the United States, for the CompuFlo® Epidural System.
Kent Krafft, Vice President of Clinical Technology Inc., stated, “We are impressed with Milestone Scientific’s CompuFlo® Epidural System following extensive due diligence prior to entering this agreement. We have several instruments on loan with top anesthesiologists and have received positive feedback from both providers and patients, reinforcing our confidence in this disruptive technology. Knowing the precise location of a needle during an epidural procedure provides a measure of safety not available to medical professionals using conventional syringes that rely on subjective perception to identify the epidural space. We look forward to rolling out the CompuFlo® Epidural System across the Midwest.”
Sharon Smith, Executive Vice President of Global Sales and Marketing of Milestone Scientific, commented, “We are pleased to partner with CTI in the Midwest. CTI will be an asset to Milestone as we aggressively educate medical professionals on the benefits of objective, quantifiable and real-time confirmation of accessing the epidural space and build a new standard of care with of the CompuFlo® Epidural Instrument.”
About Clinical Technology, Inc.
Clinical Technology Inc. (CTI), headquartered in Brecksville, Ohio, is a leading specialty distributor of medical products in the mid-western region of the United States. CTI operates directly in thirteen states, is part of a national distribution alliance, and serves as master distributor capable of providing sales and distribution throughout the country. In addition, CTI maintains the infrastructure to facilitate a product from concept through the FDA approval process and into manufacturing and distribution.
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs, develops and commercializes 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 devices, 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 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, 2017. 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.
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Released October 23, 2018