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Milestone Scientific Announces Notice of Allowance From US Patent and Trademark Office
Monday, August 24, 2009
Piscataway, NJ -- Milestone Scientific Inc. (OTCBB: MLSS), the recognized leader in advanced injection technologies, today announced that the United States Patent and Trademark Office has issued a Notice of Allowance for Milestone's U.S. patent application directed to the use of its disposable hand piece for fluid administration. Milestone's proprietary, award-winning hand piece is an instrument currently utilized in conjunction with the Company's commercially available Computer-Controlled Local Anesthetic Delivery (C-CLAD) systems, including the STA Single Tooth Anesthesia System, CompuDent and CompuMed.
Dr. Mark Hochman, Director of Clinical Affairs at Milestone Scientific, noted, "We are very pleased with the U.S. Patent Office's decision to recognize the uniqueness of our invention. Moreover, obtaining patent protection for this particular component of our C-CLAD technology was an important step in further securing our position as the industry leader in the delivery of subcutaneous drug delivery."
A Notice of Allowance generally completes the substantive examination of a patent application. The normal process which results in a final issuance of a U.S. patent involves several administrative steps that are typically completed in due course following the issuance of such a Notice. To date, Milestone has been awarded a total of 21 U.S. utility and design patents relating to its C-CLAD technologies.
According to Leonard Osser, Milestone's Chairman and Interim Chief Executive Officer, "This Notice is a strong validation of Milestone's technological leadership and innovation, and demonstrates our team's proven ability to pioneer important new components and mechanisms that add material value to our growing intellectual property platform."
About Milestone Scientific Inc.
Headquartered in Piscataway, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The STA Single Tooth Anesthesia System, a computer-controlled local anesthesia delivery system, uses this technology to provide dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web site found at www.milestonescientific.com and www.STAis4U.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of the Milestone's ability to implement its business plan, expected revenues 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 and future business decisions, 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, 2008. 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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