The Board of Directors of Milestone Medical Inc. (WAR:MMD, the Company, the Issuer) today announced that the Company has signed a Memorandum of Understanding (“MoU”) with Fidia Farmaceutici SpA (“Fidia”), a specialty pharmaceutical company based in Italy, for the co-development and manufacture of a custom intra-articular drug delivery instrument for Fidia’s hyaluronic acid formulations. Fidia is a leading producer of hyaluronic acid formulations for joint pain.
Under the terms of the MoU, upon completion of Fidia’s evaluation of the technology, the Issuer and Fidia plan to enter into a co-development and manufacturing agreement. The goal is to develop a dedicated instrument and related disposables in order to optimize drug delivery and reduce pain associated with hyaluronic acid injections for joint pain. The custom instrument will be designed to deliver Fidia’s selected hyaluronic acid products exclusively.
Fidia’s focus on joint healthcare makes it an ideal partner for the intra-articular instrument, which has already received CE Mark marketing clearance in Europe. Fidia serves a large market and is one of the leading global manufacturers of hyaluronic acid formulations for intra-articular injections. The Company’s patented technologies have already demonstrated the ability to deliver painless injections. The Company looks forward to working with Fidia as the Issuer believes its instrument will prove beneficial in reducing or eliminating the pain associated with the delivery of hyaluronic acid into the joints.
When the Company will sign a final agreement with Fidia on the basis of signed MoU, the Issuer will inform about it in a separate EBI report.
Legal basis: Section 3.1 of the Exhibit 3 to the Alternative Trading System Rules “Current and Periodical Information in the Alternative Trading System on the NewConnect Market”.
Osoby reprezentujące spółkę:
Joseph D'Agostino - CFO