Milestone Medical, Inc. has developed epidural and intra-articular drug delivery systems based on a patented, painless, computer-controlled injection and drug delivery technology originally developed by Milestone Scientific, Inc.
The Company, through Milestone Scientific, has since entered into an exclusive distribution agreement with Tri-anim Health Services, Inc., the largest provider of specialty sales and distribution solutions for healthcare in the U.S., to market the epidural system to healthcare facilities, the home healthcare market, the acute care market, long term acute care and US Government acute care facilities, other than non-hospital based pain management practices. The Company also has a distribution agreement with Beijing 3H, a medical equipment distribution company in China, for distribution of the products in the People's Republic of China, Macao, Hong Kong and other regions of Asia, where Beijing 3H has established distribution channels.
Milestone Medical Inc. was formed in 2011 as a result of a joint venture between Milestone Scientific Inc. and Beijing 3H (Heart-Help-Health) Scientific Technology Co., Ltd. for the development, commercialization, manufacturing and marketing of epidural and intra-articular injection instruments.
In forming the joint venture, Milestone Scientific contributed an exclusive worldwide royalty-free license for Milestone Medical to use its patents for epidural and intra-articular applications, and the other shareholders of Milestone Medical contributed $1.5 million to develop and commercialize these instruments and their disposables.
Development of both the epidural and intra-articular instruments is now complete. The Company is currently pursuing marketing permission for both instruments in the US and European Union.
The core technologies and patents underlying Milestone Medical's license were originally developed and used by Milestone Scientific in breakthrough dental applications; more than 50 million injections have been administered to date.
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