Milestone Scientific Announces CompuFlo® Epidural System Sales Strategy for the U.S.; Enters Agreement with Leading Distributor Covering Key Midwestern Territories
LIVINGSTON, N.J., May 14, 2018 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today provided an update on its unfolding sales strategy for the U.S., and announced it has signed an agreement with a leading Midwestern distributor and is engaging with other distributors nationwide.
Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, commented, “After careful evaluation of various options, we decided to pursue a decentralized sales strategy employing regional distributors with strong physician relationships within their respective territories and clinical specialties. In particular, we are targeting distributors with highly specialized sales forces that have the ability to both educate and inform anesthesiologists on the clinical benefits of the CompuFlo Epidural System. At the same time, I am pleased to report we have entered into the first such agreement with a leading distributor that brings very strong relationships with key opinion leaders and anesthesia providers across key markets in the Midwest. We are now in discussions with other distributors nationwide and look forward to announcing similar agreements in the coming weeks and months as we develop our sales channels in advance of having the results of our clinical trials published in select industry journals later this year.”
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 May 14, 2018