Milestone Announces Agreement with Bioline Supply to Distribute the CompuFlo® Epidural System and Related Disposables Across Spain

ROSELAND, N.J., Nov. 28, 2023 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (NYSE:MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced it has entered into an agreement with Bioline Supply to distribute the CompuFlo® Epidural System and related disposables in Spain. Bioline is a premier distributor of medical devices and equipment, supporting many hospitals and pain clinics across Spain. In connection with the agreement, Milestone Scientific has commenced sales and shipments of its CompuFlo Epidural Instrument and consumables to Spain.

Giacomo Damiani, CEO of Bioline Supply, stated, “We are pleased to add the CompuFlo® Epidural System to our product portfolio. Based on a detailed analysis of the product and discussions with physicians, we found CompuFlo to be an important and revolutionary advancement for drug delivery in pain management and anesthesiology. CompuFlo provides objective, and real-time confirmation of the challenging anatomical spaces throughout the spine, to enhance predictability and safety of the procedure. Our collaboration with Milestone Scientific to distribute the CompuFlo Epidural System across Spain is a critical step towards providing patients with access to pain relief that is both safe and reduces the risk of complications.”

Arjan Haverhals, CEO and President of Milestone Scientific noted, “We are pleased to enter into this distribution agreement with Bioline Supply, which illustrates their confidence in the market potential for our technology. We believe that Spain represents an important market for us with a population in excess of 48 million people and a growing number of epidural procedures each year in pain management and anesthesiology. Bioline Supply is an ideal distribution partner as its principals have extensive relationships with physicians, pain clinics and hospitals, as well as a proven track record of introducing new medical devices in Spain, which should be invaluable as we seek to expand our European and international market presence. We look forward to working closely with Bioline Supply in training and educating medical professionals on the benefits of our system in terms of safety, efficacy and predictability. Based on the growing adoption of our technology among pain management clinics and anesthesiologists, we remain confident and believe that the CompuFlo Epidural system will, in time, become the standard of care in epidural analgesia.”

About Bioline Supply
Founded in 2000, Bioline Supply is a supplier of innovative medical devices and equipment in Spain. The goal of the company is to import and market innovative cutting-edge technologies for implementation and training in the main hospitals and pain clinics in Spain, with a specialized presence in certain medical disciplines, including anesthesiology, surgery, and non-vascular intervention. For more information, please visit: https://www.biolinesupply.com.

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, LLC
Email: [email protected]
Tel: 212-671-1020

Contact: David Waldman or Natalya Rudman
Crescendo Communications, LLC
Email: [email protected]
Tel: 212-671-1020