Navigation Links
Milestone Scientific Acquires Additional Patent Rights for Painless Injections and Resolves Related Litigations
Date:10/2/2008

LIVINGSTON, N.J., Oct. 2 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced injection technologies, today announced that it has acquired additional patent rights with respect to painless anesthetic injections -- specifically rights related to controlling the flow rate or pressures used in providing these injections -- through issuance of 260,000 shares of restricted common stock. In connection with this acquisition, Milestone also agreed to terminate its Declaratory Judgment action against Dr. Milton Hodosh related to claimed infringements of his patent rights and Dr. Hodosh agreed to terminate his existing infringement action against the Company. Each party is responsible for their own attorney fees.

Joe Martin, Chief Executive Officer of Milestone, stated, "We are pleased to have acquired these additional patent rights, which strengthens our position as the dominant leader of advanced technology for administering painless anesthetic injections without expending any of our cash resources. Also, the related settlement of our Declaratory Judgment action against Dr. Hodosh and his infringement action against us eliminates further legal expense."

About Milestone Scientific Inc.

Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo(R) technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The STA(TM) (Single Tooth Anesthesia) System computer-controlled local anesthesia delivery system which uses this technology provides dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web sites found at http://www.milesci.com.

Safe Harbor Statement

This press release may contain forward-looking statements regarding the timing and financial impact of the 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 on Form 10-KSB for the year ended December 31, 2007. 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.

FOR MORE INFORMATION, PLEASE CONTACT:

Elite Financial Communications Group

Dodi Handy, President and CEO

For Media Inquiries: Tiffany Korkis or John Morrison, Directors, Elite

Media Group

407-585-1080 or via email at mlss@efcg.net


'/>"/>
SOURCE Milestone Scientific Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Affitech Announces Second Milestone in Roche Antibody Discovery Collaboration
2. BioMS Medical announces receipt of milestone payment from Eli Lilly and Company
3. Cequent Pharmaceuticals Meets Novartis Option Fund Milestone; Continues to Next Phase to Validate Inflammatory Bowel Disease Targets in Vivo
4. Cardica Receives $1 Million Milestone Payment From Cook Medical for Development of Heart Defect Closure Device
5. Anesiva Announces Conference Call and Webcast to Discuss Updates to Corporate Strategy and Milestones
6. InterMune Earns Development Milestone in HCV Protease Inhibitor Collaboration With Roche
7. Teliks Aurora Kinase-VEGFR Dual Inhibitor Program Meets a Preclinical Development Milestone
8. Genmab Reaches Fifth Milestone in Ofatumumab Collaboration
9. Access Pharmaceuticals Licenses MuGard to Milestone Biosciences, LLC for North America
10. Milestone Biosciences, LLC Further Strengthens Executive Management Team
11. Milestone to Report Results for 2008 Second Quarter on Thursday, August 14, 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2016)... ... May 24, 2016 , ... Cell therapies for a range ... by research at Worcester Polytechnic Institute (WPI) that yielded a newly patented method ... , The novel method, developed by WPI faculty members Raymond Page, PhD, professor ...
(Date:5/23/2016)... ... ... blood donations in South Texas and across the nation is growing. , But according to ... are on the decline. In fact, donations across the country are at their lowest point ... the last four years alone. , There is no substitute for blood. , “We want ...
(Date:5/23/2016)... and LONDON , May 23, 2016 /PRNewswire/ ... See Frontage Boost Efficiency by 40% - Frontage Implement ... - Frontage Enforce Quality, Compliance and Traceability Within the Bioanalytical lab ... labs in the United States and ... to be deployed across its laboratory facilities. In addition to serving ...
(Date:5/20/2016)... ... May 20, 2016 , ... The leading Regenerative Veterinary Medicine Company, VetStem ... have treated over 100 of their own patients with the VetStem Cell Therapy. Each ... of care for their patients. , The veterinarians are Dr Ross Rich former ...
Breaking Biology Technology:
(Date:4/14/2016)... AVIV, Israel , April 14, 2016 ... Behavioral Authentication and Malware Detection, today announced the appointment ... already assumed the new role. Goldwerger,s leadership ... BioCatch, on the heels of the deployment of its ... addition, BioCatch,s behavioral biometric technology, which discerns unique cognitive ...
(Date:3/31/2016)... 2016   LegacyXChange, ... "Company") LegacyXChange is excited to release its ... to be launched online site for trading 100% guaranteed ... will also provide potential shareholders a sense of the ... an industry that is notorious for fraud. The video ...
(Date:3/29/2016)... 2016 LegacyXChange, Inc. (OTC: ... SelectaDNA/CSI Protect are pleased to announce our successful effort ... variety of writing instruments, ensuring athletes signatures against counterfeiting ... from athletes on LegacyXChange will be assured of ongoing ... Bill Bollander , CEO states, "By ...
Breaking Biology News(10 mins):