LIVINGSTON, NJ --(Marketwired - November 20, 2017) - Milestone Scientific Inc . (NYSE American: MLSS) (
Key highlights of the new cosmetic instrument include:
- Improved needle placement with a comfortable stylus grip
- Precise dosing driven by an electronic motor
- Uses the same comfort speed technology that has made dental injections painless
- Efficient operation with an intuitive touch-screen interface
- Simple integrated electronic record-keeping capability without a costly electronic medical records system
- Operates wirelessly with high-capacity battery
Leslie Bernhard, Chairman and Interim CEO of Milestone Scientific, commented, "There is a large and growing market for botulinum toxin (such as Botox® and Dysport®) injections globally, with over 8.4 million botulinum toxin injections annually in the U.S. alone. Recognizing this opportunity, we set out to develop a product concept and conducted a cosmetic injection instrument feasibility study to determine professional interest in a new cosmetic injection system.
"Milestone conducted an extensive survey of over 150 medical professionals, including both plastic surgeons and cosmetic dermatologists. The physicians surveyed conduct regular botulinum toxin injections and are decision makers regarding the purchase of equipment and devices for their practice. Based on the results of the study, which indicated dissatisfaction with the current syringe-based technique, these medical professionals indicated a strong desire for improvement in the ability to inject precise dosage units and to minimize patient discomfort.
"As a result, we proceeded with the development of a new cosmetic injection instrument that allows the clinician to inject accurate doses with the precision of a stylus pen that is designed for comfort and superior tactile feel. Each injection is verified with audible sound feedback confirming unit dose and each injection is documented with an electronic record," stated Ms. Bernhard.
Ms. Bernhard concluded, "I am pleased to report we have now completed the design process and manufactured a set of fully functional pre-production devices. We have also completed a series of multi-state human factors studies with targeted customers. Based on the positive outcome, we are moving forward aggressively towards the commercial launch of our cosmetic instrument, starting first in Europe. Shortly thereafter, we plan to launch the product in the U.S. and across Asia. The cosmetic market represents a sizable and potentially lucrative market. Moreover, most procedures are private pay and do not require reimbursement, which will help to further accelerate our commercialization timeline."
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is an industry-leading leading medical research and development company that designs and patents innovative injection technologies. Milestone's computer-controlled systems are designed to make injections precise, efficient, and virtually painless. 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, 2016. 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
