Milestone Scientific Announces Plans to Establish Special Committee of the Board of Directors to Evaluate Strategic Options
LIVINGSTON, NJ / ACCESSWIRE / March 19, 2019 / Milestone Scientific Inc. (NYSE American: MLSS) today announced that the Board of Directors plans to establish a special committee of the Board to evaluate strategic options, which could include the potential sale or licensing of different instruments and/or other business combinations.
Leslie Bernhard, Chairman of Milestone Scientific, stated, "Our mission has been to develop a portfolio of new technologies around our core platform, the patented DPS Dynamic Pressure Sensing® injection technology, which has the potential to improve success rates, reduce complications and lower costs. Our goal has been, and continues to be, advancing these technologies to a commercial level whereby we could either sell or license the technology for specific indications, in order to maximize value for our shareholders. We are now at a stage that our dental division is well beyond proof of concept and on a growth trajectory. The CompuFlo™ Epidural instrument is beginning to generate commercial traction following publication of clinical research that found it to be a safe alternative to the current standards of care. Given the third-party interest in our technology, including both dental and medical applications, the Board decided this is the time to establish a special committee to carefully evaluate all potential strategic options. We will provide further updates as developments unfold."
About Milestone Scientific Inc
Milestone Scientific Inc. (MLSS) is a medical device 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
SOURCE: Milestone Scientific Inc.
Released March 19, 2019