LIVINGSTON, NJ / ACCESSWIRE / January 21, 2020 / Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced that it has received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a patent regarding a new application for its technology in which claims were allowed for a Computer Controlled Drug Infusion Device for cosmetic use. The allowed claims relate to a novel cosmetic injection instrument for the delivery of botulinum toxin, such as Botox® and Dysport®.
The CompuFlo® system with DPS Dynamic Pressure Sensing (DPS®) Technology® provides an objective tool that can consistently reduce pain perception, accurately maintain a precise unit dose of Botulinum toxin and allows the graphic recording of unit doses for each patient, while allowing the clinician to generate a precise record for future use. Additionally, the patented hand piece design provides for greater tactile feel for precise needle manipulation and placement. The system is optimized for a faster, more precise and virtually painless experience for the patient while providing clinicians with an important graphic recording of the procedure.
Mark Hochman, D.D.S., Inventor and Clinical Director for Milestone Scientific, commented, "We are pleased to receive the Notice of Allowance related to our cosmetic injection system, as this expands our intellectual property into an exciting new application. Based on our previous feasibility study of plastic surgeons and cosmetic dermatologists we recognized the profession's interest in a new cosmetic injection system that would allow the delivery of precise dosage and address the need for a unique graphic record."
Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, stated, "With this patent in hand, we look forward to advancing the commercial roll-out of our cosmetic injection instrument in the U.S., which has the potential to significantly impact the safety and administration of botulinum toxin. The market opportunity for our cosmetic instrument includes over 8.4 million botulinum toxin injections delivered annually in the U.S. alone."
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, 2018. 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
Email: [email protected]
SOURCE: Milestone Scientific, Inc.