Milestone Scientific and Beijing 3H Scientific to Form Joint Venture Bringing Breakthrough Technology to the Epidural Marketplace

LIVINGSTON, N.J., July 14, 2011 (GLOBE NEWSWIRE) -- Milestone Scientific Inc. (OTCQB:MLSS), the recognized leader in advanced drug delivery technologies, today announced that it has signed a definitive joint venture agreement with Beijing 3H (Heart-Help-Health) Scientific Technology Co., Ltd. (Beijing 3H) for the development, commercialization, manufacture and marketing of epidural and intra-articular injection instruments. Milestone Scientific will have a 50% interest in the joint venture and Beijing 3H together with a number of individuals, including a large shareholder in Milestone who is also the principal of a supplier to Milestone, will also have a 50% interest in the joint venture.