PISCATAWAY, N.J., Sept. 16 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: MLSS), the recognized leader in advanced injection technologies, today announced that the United States Patent and Trademark Office has issued a Notice of Allowance for Milestone's U.S. patent application, titled "Computer Controlled Drug Delivery System with Dynamic Pressure Sensing."
Dynamic Pressure Sensing provides visual and audible in-tissue pressure feedback, identifying tissue types to the healthcare provider. This feedback allows a healthcare provider to know when certain types of tissue have been penetrated, allowing for the injection of medicaments at a precise location. This is particularly beneficial when making subcutaneous and intramuscular injections.
Dr. Mark Hochman, Director of Clinical Affairs at Milestone Scientific, stated, "This Notice of Allowance is of profound significance to our Company, in that the noted intellectual property represents one of the key technological components that will afford Milestone Scientific the opportunity to enter the medical drug delivery market. Intra-articular, epidurals, along with numerous other injections should undergo a revolutionary change in the areas of efficacy, safety, and cost benefits."
A Notice of Allowance generally completes the substantive examination of a patent application. The normal process, which results in a final issuance of a U.S. patent, involves several administrative steps that are typically completed in due course following the issuance of such a Notice.
The new patent will provide protection for a key element of Milestone's technology until December 21, 2026 and thus will extend and strengthen Milestone's leadership position in the growing field of advanced injection and drug delivery systems. To date, Milestone has been awarded a total of 22 U.S. utility and design patents relating to its C-CLAD technologies. In August of this year, the Company received a Notice of Allowance for the bonded disposable hand piece for fluid administration used by the Company's commercially available C-CLAD systems, including the STA Single Tooth Anesthesia System(TM), CompuDent(R) and CompuMed(R).
"We are very proud of our Company's technological achievements and expect that the protection afforded by these patents will give Milestone a key competitive advantage in the drug delivery market," added Leonard Osser, Milestone's CEO. In June 2008, Business Insights reported that over the last decade, the drug delivery industry has evolved to become a key area in the development of value-added pharmaceutical products. The global market grew from $15 billion to $40 billion during 2000-2006 as companies increasingly turned to innovative new drug delivery technologies as a means of expanding product lifecycles, enhancing drug efficacy and maximizing revenues.
About Milestone Scientific Inc.
Headquartered in Piscataway, 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 Single Tooth Anesthesia System(TM), a computer-controlled local anesthesia delivery system, uses this technology to provide 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 site found at www.milestonescientific.com and www.STAis4U.com.
Safe Harbor Statement
This press release contains 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 for the year ended December 31, 2008. 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.
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|SOURCE Milestone Scientific Inc.|
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