Milestone Scientific Announces Successful Epidural Steroid Injection Procedures Under New AMA CPT Guidelines for Artificial Intelligence (AI) Assisted Pain Management Surgery

ROSELAND, N.J., May 10, 2023 (GLOBE NEWSWIRE) — Milestone Scientific Inc. (NYSE: MLSS), a leading developer of computerized drug delivery instruments that provide painless and precise injections, as well as AI-assisted medical technology, today announced the successful completion of the first series of epidural steroid injections (ESI) using the CompuFlo Epidural System by physicians under the new American Medical Association (AMA) Current Procedural Terminology (CPT®) guidelines for AI-assisted analgesic epidural needle placement in patients.

The AMA’s new technology-specific Category III CPT® code, which came into effect in the CPT codebook on January 1, 2023, specifically covers technologies that “integrate AI to place an epidural needle.” The published and copyrighted guidelines further note that the technology must include real-time software to assist the physician by transmitting key data points, along with sensors to interpret epidural pressures, detail anatomical needle placement, and measure precise saline volume via software facilitating data transmission to an epidural system console screen. The Company is not aware of any systems, other than the CompuFlo Epidural System, that would meet these criteria. Additionally, the technology is backed by a broad portfolio of domestic and international patents.

Arjan Haverhals, CEO and President of Milestone Scientific, stated, “We are proud to announce that multiple physicians have now completed ESI procedures using the CompuFlo Epidural System under the new AMA CPT guidelines for AI-assisted epidural needle placement. This is an important milestone, as it further validates the medical importance of the CompuFlo Epidural System by these physicians in their plans of treatment. Specifically, our proprietary and highly accurate AI-assisted technology enhances both the efficacy and safety of pain management surgery. We believe this data will play an important role as we seek reimbursement for the CompuFlo Epidural System under the new CPT® code.”

About Milestone Scientific Inc.
Milestone Scientific Inc. (MLSS), a technology and artificial intelligence (AI)-focused medical research and development company that patents, designs and develops innovative injection technologies and instruments for medical, dental and cosmetic applications. Milestone Scientific’s computer-controlled systems are designed to make injections precise, efficient and increase overall patient comfort and safety. The proprietary DPS Dynamic Pressure Sensing Technology^® is designed 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.

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