LIVINGSTON, New Jersey--Milestone Scientific Inc., a leader in advanced injection technologies, has announced it has acquired additional patent rights with respect to painless anesthetic injections.
Specifically, these are rights related to controlling the flow rate or pressures used in providing these injections through issuance of 260,000 shares of restricted common stock.
In connection with this acquisition, Milestone also agreed to terminate its Declaratory Judgment action against Dr. Milton Hodosh. This action related to claimed infringements of his patent rights, and Dr. Hodosh agreed to terminate his existing infringement action against the company. Each party is responsible for its attorney fees.
Joe Martin, Chief Executive Officer of Milestone, said, "We are pleased to have acquired these additional patent rights, which strengthens our position as the dominant leader of advanced technology for administering painless anesthetic injections without expending any of our cash resources. Also, the related settlement of our Declaratory Judgment action against Dr. Hodosh and his infringement action against us eliminates further legal expense."
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