COMPUTER CONTROL PREVENTS MISTAKES
Milestone Medical is a subsidiary of Milestone Scientific, a NYSE MKT listed company. Before Milestone Scientific, the way injections were delivered had not changed materially since the nineteenth century. Milestone Scientific radically changed that by computerizing the process.
Milestone’s injection delivery system connects a disposable syringe to a computerised base station that identifies different types of tissue and provides real time visual and aural feedback. Injections can be more precisely targeted.
Dentists have used Milestone technology for years. Over 50 million Milestone dental injections have been given. The injections are more precise, less painful and usually require less drug.
Milestone Medical was formed to license the global rights to market the Milestone system for epidural and intra-articular injections. Precise targeting is more critical in these kinds of medical injections. A misdirected needle can result in serious complications, even death.
Approximately 2.4 million epidural injections are given annually in the United States to women in labor. There are approximately 8.9 million other epidural procedures. The epidural market is estimated to be over a billion dollars a year market in the United States alone. Doctors using conventional syringes can identify the epidural space only subjectively which can result in serious complications.
The intra-articular market is projected to be approximately 7 billion dollars this year. 21 million people in the United States will receive intra-articular injections for osteoarthritis. Injections are minimally effective because of the difficulty of locating the intra-articular space.
HOW QUARK HELPED
Quark financed Milestone Medical with a 3 million USD investment from one of Poland’s largest mutual funds. Quark subsequently listed Milestone Medical on the Warsaw Stock Exchange. The company is awaiting approval of a European Union grant.
$4.2 MILLION EU GRANT
Next, Quark helped Milestone Scientific form a consortium with another Quark portfolio company, BioMed-Lublin, to develop another application for its computer controlled delivery system: a stem cell injectable for diabetics. BioMed-Lublin, one of Poland’s leading pharmaceutical manufacturers has to date received 20 million USD in European Union grants. The Milestone consortium also included Polpharma, another major Polish pharmaceutical manufacturer, the Medical University of Lublin, Warsaw University of Technology and the University of Gdansk.
The Milestone consortium was awarded a 4.2 million USD European Union grant.