Milestone Scientific Inc. Receives Notice of Allowance for U.S Patent Related to CompuFlo® Disposables

Rhea-AI Summary

Milestone Scientific (NYSE American: MLSS) announced the receipt of a Notice of Allowance from the USPTO for a patent related to the disposable component of its CompuFlo® Instrument. This patent aims to enhance safety and control through an embedded micro-chip security feature, preventing unauthorized reuse of disposables. Dr. Mark Hochman emphasized the patent's importance for long-term financial success and the company's leadership in the market, holding over 20 related patents.

Positive

• Received a Notice of Allowance for a patent that enhances safety and control of disposables.
• The embedded micro-chip security feature supports long-term financial success.
• Strengthens Milestone's position as a leader with over 20 patents related to injection and drug delivery systems.

Negative

• None.

ROSELAND, N.J., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE American:MLSS), a leading developer of computerized drug delivery instruments that provides virtually 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 relating to the disposable component of Milestone’s CompuFlo® Instrument.

Dr. Mark Hochman, D.D.S., Inventor and Clinical Director for Milestone Scientific, commented, "Our clinical objectives have always been to focus on creating greater control and safety of our disposables. This aligns with our commercial strategy to ensure our disposables are protected due to the high margin, recurring revenue nature of these sales. This patent will cover the unique interactions of the disposable assembly and a micro-chip security verification feature embedded in the disposables, which provides numerous clinical and safety benefits for the patient and practitioner. This patent also covers the use of an embedded security chip, which is intended to enhance the safety and integrity of our system by preventing improper reuse of the disposables, as well as ensuring our instrument can only be used with authenticated disposables for the current and future systems. Ensuring the use of only authorized disposable components is critical to CompuFlo’s performance, safety as well as our long-term financial success of the Company. I am proud to state that we currently hold more than 20 patents surrounding our injection and drug delivery systems, which further solidifies our leadership position in this market.”     

About Milestone Scientific Inc.

Milestone Scientific Inc. (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.

Contact:
David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: mlss@crescendo-ir.com
Tel: 212-671-1020

FAQ

What patent was recently allowed for Milestone Scientific?

Milestone Scientific received a Notice of Allowance for a patent related to the disposable component of its CompuFlo® Instrument.

How does the new patent benefit Milestone Scientific's products?

The patent enhances safety and control by incorporating an embedded micro-chip security feature, preventing unauthorized reuse of disposables.

What is the significance of Milestone Scientific holding over 20 patents?

Holding over 20 patents solidifies Milestone's leadership position in the market for injection and drug delivery systems.

What does the embedded micro-chip in the disposables do?

The micro-chip ensures that only authorized disposable components are used, which is crucial for the performance and safety of the CompuFlo® system.

What is the stock symbol for Milestone Scientific?

The stock symbol for Milestone Scientific is MLSS.