MLSS Milestone Scientific Inc

Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today reported it has commenced commercial sales of CompuFlo® disposables for use in neurostimulation spinal cord stimulator implantation procedures at the University of Texas Medical Branch (UTMB) Health Clear Lake Campus Hospital, expanding use of CompuFlo® within the institution beyond the labor and delivery department and training for residents in epidural needle placement and verification.

A spinal cord stimulator is an implanted device that sends low levels of electricity directly into the spinal cord to relieve pain. An estimated 60,000 spinal cord stimulators are implanted each year.

Approval and adoption of the technology for neurostimulation spinal cord stimulator implantation follows a successful evaluation process by Dr. Patrick Karas, MD, a full-time faculty neurosurgeon at UTMB, operating at both the Galveston and Clear Lake campuses. Dr. Karas completed 10 cases using the CompuFlo Epidural system, in which he reported 100% success and no complications.

UTMB is an institution of the University of Texas System and agency of the State of Texas. UTMB is a major academic health sciences center of global influence, with medical, nursing, health professions and graduate biomedical schools; a world-renowned research enterprise; and a growing, comprehensive health system with hospitals on four campuses. 

Dr. Karas is a member of the American Association of Neurological Surgeons, the Congress of Neurological Surgeons, Texas Association of Neurosurgeons, and the American Epilepsy Society. Dr. Karas obtained his MD from Columbia University College of Physicians and Surgeons, and completed his neurosurgery residency at Baylor College of Medicine. His training also included brain tumor surgery training at MD Anderson Cancer Center. After completing residency, Dr. Karas continued his study of epilepsy surgery techniques at the Charles Shor Epilepsy Center at the Cleveland Clinic.

Dr. Patrick Karas commented, “In my experience, Milestone’s CompuFlo helps to minimize the risk of intraoperative cerebral fluid leakage and trauma to underlying nerve roots, both potential complications of spinal cord stimulator procedures. Cerebral fluid leakage can require a post-operative blood patch, while nerve root irritation can cause severe radiculitis requiring extended post-operative admission and post-operative steroid injections. The CompuFlo has also decreased operative time by around 15 to 20 minutes per procedure.”

Arjan Haverhals, CEO of Milestone Scientific, stated: “I am very pleased to announce that UTMB Health Clear Lake Campus Hospital has expanded the use of the CompuFlo® Epidural beyond labor & delivery, to now include neurostimulation spinal cord stimulator implantation procedures. Use of our instrument for this procedure is further evidence of the broad potential of CompuFlo® based on its ability to increase efficiency, safety and predictability, thus improving patient outcomes and lowering costs.”

About Milestone Scientific Inc.Milestone Scientific Inc. (MLSS), a technology-focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical and dental applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase the overall patient comfort and safety. Their proprietary DPS Dynamic Pressure Sensing Technology® instruments is the platform to advance the development of next-generation devices, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions of subcutaneous drug delivery, including local anesthetic. To learn more, view the MLSS brand video or visit 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, 2022. 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:Crescendo Communications, LLCEmail: mlss@crescendo-ir.comTel: 212-671-1020