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Press Releases
MILESTONE SCIENTIFIC GRANTS SINOPHARM EXCLUSIVE
DISTRIBUTION AND MARKETING RIGHTS TO STA SYSTEM IN
CHINA
China’s Largest Distributor of Medical
and Dental Products to Market Milestone’s Award-Winning Computer-Controlled
Local Anesthetic Delivery System to China’s Dental Industry
LIVINGSTON, N.J. – (PR NEWSWIRE) – April 29,
2009 – Milestone Scientific Inc. (OTCBB:MLSS),
the recognized leader in advanced injection technologies, today announced
that it has granted China National Medicines Corporation, d/b/a Sinopharm,
exclusive distribution and marketing rights of the award-winning STA
Single Tooth Anesthesia System™ (STA System)
in China. Traded on the Shanghai Stock Exchange (SHA:600511),
Sinopharm is China’s largest domestic manufacturer, distributor
and marketer of pharmaceuticals and importer of medical devices,
and the country’s largest domestic distributor of dental anesthetic
carpules to the Chinese dental industry.
The deal paves the way for Milestone’s Computer-Controlled Local
Anesthetic Delivery (C-CLAD) technologies to reach progressive oral health
practitioners in China through Sinopharm’s extensive medical and
dental distribution network. According to Global Industry Analysts,
Inc., one of the world’s largest market research publishers, “Rapid
growth in living standards has induced greater realization about the
quality of medical and dental services in countries such as India and
China. Consequently, these countries are exhibiting soaring demand
for modern and sophisticated technology and equipment in the dental market.” Market
research firm Freedonia also notes that “demand for dental products
in China is expected to climb 11% per year through 2012 to 21.5 billion
yuan ($3.15 billion U.S. dollars), driven by the increasing number of
Chinese who are using dental products to improve their appearance and
the growing popularity of professional dental care.”
Leonard Osser, Chairman and interim CEO of Milestone, stated, “An
important factor of Milestone’s long term success is teaming with
the right distribution partners who are capable of promoting
rapid market penetration for our advanced injection technologies in key
geographic regions around the world. Considering that China represents
one of the most significant growth markets for the STA System,
our efforts to identify an ideal partner in that global region has been
especially pronounced. As a result, we are very proud to team with
Sinopharm, one of China’s noted healthcare leaders, as our exclusive
supplier of the STA System and related ancillary handpieces
in China and look forward to working closely with them to help establish
our technologies as the gold standard for dental injections in the country.”
The state-of-the-art STA System is a computer-controlled, pressure-sensitive
injection system, which provides dentists with audible and visual signals
as to in-tissue pressure and needle location. Milestone’s
latest achievement in C-CLAD makes the injection process more comfortable
for both dentists and patients and allows for the painless delivery of
local anesthetic. Marketed worldwide by Milestone’s growing
global distributor network to dental practitioners for the painless administration
of all dental injections, the STA System is uniquely capable
of predictably and more comfortably administering “Single Tooth
Anesthesia” into the Periodontal Intraligamentary (PDL) space,
something never before possible using conventional techniques.
Established in 1999 by China National Pharmaceutical Group Corporation,
China’s largest pharmaceutical group, China National Medicine Corporation
Ltd.’s (Sinopharm) core businesses are investment, import and export,
and domestic distribution in pharmaceutical and relevant sections, including
pharmaceutical R&D, manufacturing, distribution, consultation, bonded
warehousing and other value-added services such as overseas pharmaceutical
projects and domestic wholesale of pharmaceuticals, medical instruments
and equipments. Sinopharm keeps the country’s medicine reserve
and plays an important role in disaster and emergency relief and disease
and plague prevention.
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® 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™, 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.milesci.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.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group
Dodi Handy, President and CEO
For Media Inquiries: Tiffany Korkis or Kathy Addison, Directors, Elite
Media Group
407-585-1080 or via email at mlss@efcg.net
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