PISCATAWAY, N.J., May 3 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (OTC Bulletin Board: 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, titled "Self-Administration Injection System."
Milestone's innovative computer-controlled drug delivery platform has been designed to reduce the anxiety and pain of self-administration of medications for the rapidly expanding home-use market. The computer-controlled self-administration system provides a less threatening, virtually painless means for patients to safely self-administer in-home a variety of injections. Moreover, certain differentiating features and capabilities of the invention include the following:
- The system provides a means to optimize injection parameters (injection pressure and flow-rate) for a specific area of the body for each individual, thus allowing the user to create a unique injection profile specific to their own pain tolerance and needs.
- The computer-controlled system provides an interactive learning and teaching experience guiding the user through the injection experience, thereby reducing the uncertainty and anxiety of performing the self-administrated injection.
- The system provides a means of reducing medical errors by verifying the authenticity of the drug administered as well as generating a digital treatment record of the event that can be reviewed by healthcare professions to verify self-medication compliance.
- The system has been designed to be compatible with a wide variety of medications that are routinely prescribed for in-home self-administration.
According to a February 2010 article published in MedTechInsider, "The state of the market for self-injection devices is healthy and growing at a steady clip. Currently, 15% of all injections are performed by the patient, a percentage that will continue to rise." An analysis of market trends reveals a shift to pre-filled, disposable, simple devices that aim to address convenience, regulatory compliance requirements and needle phobia/patient compliance. Such systems are rapidly expanding across therapeutic areas such as multiple sclerosis (MS), rheumatoid arthritis (RA), fertility, osteoporosis, hepatitis, oncology, anemia and migraine. MS, alone, afflicts more than 2.5 million worldwide. Currently, treatment for MS is through the use of Disease Modifying Medications (DMMs), which are all administered by subcutaneous or intramuscular injections, or through intravenous infusions. It has been widely documented that fear of self-administration of DMMs is a major barrier to therapeutic adherence.
Dr. Mark Hochman, Director of Clinical Affairs at Milestone Scientific, noted, "This Notice of Allowance helps to validate and reinforce Milestone's commitment to developing novel medical injection systems that effectively mitigate patient fear, reduce or eliminate operator error, and promote patient drug regimen compliance. Moreover, we believe that with this patent issuance, Milestone will be well positioned to pursue future teaming opportunities with major medical and pharmaceutical companies seeking disruptive drug delivery technologies that will enable them to raise the barriers to market entry and differentiate their drug products from those delivered by otherwise conventional means."
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 23 U.S. utility and design patents relating to its computer-controlled injection technologies.
"As our intellectual property estate continues to grow, the return on investments we've made to pioneer positive change in healthcare delivery are invariably enhanced, and, in turn, Milestone's enterprise value is further enriched," added Leonard Osser, Chief Executive Officer of Milestone. "Protecting the tangible advancements we've made in the science and delivery of medical injections is and will remain a key strategy for us as we persist in redefining the global standard of care."
About Milestone Scientific Inc.
Headquartered in Piscataway, New Jersey, Milestone Scientific is engaged in pioneering advanced computer-controlled injection technologies for the medical and dental markets; and currently sells its award-winning products through a global distribution network serving North America, Asia, Africa and Europe. For more information on the STA System™ and other innovative Milestone products, please visit the Company's web sites 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 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, 2009. 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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SOURCE Milestone Scientific Inc.