David Waldman or Justyna Gudaszewska Crescendo Communications, LLC
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Milestone Medical Inc. Commences Sales of CompuFlo® Epidural Instruments and Disposables to
University Hospital of Würzburg in Germany
Roseland, NJ - February 23, 2021 - Milestone Medical Inc. (WAR:MMD) today announced that it has begun selling its CompuFlo® Epidural Instrument and related disposables to the University Hospital of Würzburg,one of the leading national hospitals in Germany.
Dr. Peter Kranke, Professor of Anesthesia in the Department of Anesthesia and Critical Care, at the University
Hospital of Würzburg, Germany, and the Würzburg Medical School, stated, "Based on the high accidental dural punctures with the loss of resistance that Dawkins found1 and our own published results on the CompuFlo2, we are impressed with Milestone's CompuFlo Epidural Instrument. Introduction of the CompuFlo is an important step towards enhancing the safety of epidural analgesia and anesthesia. Based on the latest literature, the incidence of accidental dural puncture is considered high by modern standards, which is attributable to the standard loss of resistance technique used today. CompuFlo provides an attractive alternative as its addresses "false-positives" and subsequent suboptimal analgesia. CompuFlo also holds significant potential given its ability to reduce complication rates."
Arjan Haverhals, President of Milestone Scientific, the licensor and the majority shareholder of Milestone Medical Inc. commented, "We appreciate the decision of the University Hospital of Wurzburg, in association with Dr. Kranke and his team, to purchase our CompuFlo Epidural System. Dr. Kranke is a premier anesthesiologist and key opinion leader in the area of safe delivery of anesthesia and analgesia. We believe this initial order by a leading European hospital and medical teaching institute is further validation that our technology provides a level of safety and efficiency not available for medical professionals using conventional syringes. We look forward to further expanding our global rollout strategy of the CompuFlo Epidural System and working closely with other hospitals across Europe and North America."
Leonard Osser, Interim CEO of Milestone Medical Inc., stated "This agreement illustrates the positive response for our CompuFlo Epidural Instrument. In addition to hiring more salespeople and expanding our sales funnel, advanced trials are already underway that we believe will convert to commercial orders. We are now aggressively accelerating our commercialization efforts in both domestic and global markets as we pursue our goal to become the new standard of care."
About Milestone Medical Inc.
Milestone Medical, Inc. (WAR:MMD) has developed epidural and intra-articular drug delivery systems based on a patented, painless, computer-controlled injection and drug delivery technology originally developed by Milestone Scientific, Inc. Development of both the epidural and intra-articular instruments is now complete. The Company was granted the FDA marketing clearance of the epidural instrument in U.S. and is currently pursuing regulatory approval for intra-articular instrument in the U.S. Milestone Medical received CE Mark
approval to sell and market its intra-articular and epidural instruments across European Union. For more information please visit www.medicalmilestone.com.
About Milestone Scientific Inc.
Milestone Scientific Inc. (NYSE:MLSS) is a biomedical technology research and development company that patents, designs and develops 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, 2019. 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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