LIVINGSTON, NJ—(Marketwired – March 13, 2018) – Milestone Scientific Inc. (NYSE American: MLSS) (NYSE MKT: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, today announced the appointment of Sharon L. Smith to the newly created position of Executive Vice President of Global Sales and Marketing.
Sharon Smith brings a proven track record in the healthcare capital equipment industry, specializing in radiology. Over the course of her career, she has taken part in eight medical product launches. Prior to joining Milestone Scientific, she served as a sales and marketing consultant for an artificial intelligence/deep machine learning software platform, developing the go–to–market strategy. Previously, she served as Vice President of Sales & Marketing for Rivanna Medical, LLC where she developed, implemented and managed the commercial launch plans for an ultrasound–based medical device serving the anesthesia market. She also served as consultant to a venture capital firm and emerging breast imaging companies on the development of their commercial strategies to successfully launch innovative imaging systems in the U.S. and internationally. She has also held senior sales and marketing positions with leading medical device companies, including Gamma Medica, Inc., Aurora Imaging Technology, Inc., Naviscan PET Systems, Inc., Hologic, Inc., and Procter & Gamble.
Leonard Osser, Interim Chief Executive Officer of Milestone Scientific, commented, “We are pleased to welcome Sharon to the senior management team. She brings an extensive medical device background, a successful track record commercializing new products, as well as deep industry relationships — especially within the anesthesia and imaging markets. Thus far, we have been successful in gaining marketing clearance and are creating awareness among KOLs both in Europe and the U.S. for our CompuFloÂ® Epidural Computer Controlled Anesthesia System. With this foundation, we are now commencing the next phase of our strategy, which involves building out our distribution channels. Later this year, we expect to see the results of our trials published in leading industry journals, which should help further validate the safety advantages of our technology.”
Sharon Smith noted, “Having devoted most of my career to medical device sales, especially within the anesthesia and imaging markets, there is a significant unmet need for Milestone's epidural medical instrument. I also see enormous benefits for extensions of this platform technology across multiple indications such as cosmetic and intra–articular injections. Our immediate focus is accelerating the commercial roll–out the epidural medical instrument. Towards this end, we will be partnering with new distributors for the epidural medical instrument both in the U.S. and abroad. In parallel, we continue to seed the market with leading KOLs and have performed over 800 successful procedures to date. Having published data from clinical trials later this year should also help drive commercial adoption.”
About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS) is a biomedical technology research and development company that patents, designs and develops innovative diagnostic and therapeutic injection technologies and instruments for medical, dental, cosmetic and veterinary applications. Milestone's computer–controlled systems are designed to make injections precise, efficient, and virtually painless. Milestone's proprietary DPS Dynamic Pressure Sensing technologyÂ® is our technology platform that advances the development of next–generation instruments, regulating flow rate and monitoring pressure from the tip of the needle, through platform extensions for local anesthesia for subcutaneous drug delivery, with specific applications for cosmetic botulinum toxin injections, epidural space identification in regional anesthesia procedures and intra–articular joint injections. 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 our inability to raise capital when needed which may force us to delay, curtail or eliminate commercialization efforts of our CompuFloÂ® Epidural Computer Controlled Anesthesia System, reliance on informal arrangements with third parties to manufacture our products, maintenance of product quality, product acceptance and use by physicians, developments by competitors, inability to defend our patent, adverse patent rulings, the extent to which reimbursement will be available, FDA or legal developments, general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, , changes in customer and market requirements and standards, and the other 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.