Milestone Scientific’s chairman takes over as interim CEO

Livingston-based drug delivery products company Milestone Scientific Inc. has named its chairman as interim CEO, following the resignation of the firm’s CEO and president.

Milestone said Thursday that Leslie Bernhard will replace Daniel Goldberger, who resigned effective Monday, while the company conducts a formal search for a replacement.

“As chairman of the company, Leslie has overseen the strategic direction of the company,” Leonard Osser, founder, board member and director of China operations, said in a prepared statement. “She brings an impressive background and vision that is closely aligned with the objectives of the board. I am 100 percent confident in both her leadership abilities, as well as the near- and long-term outlook for the business.”

The board is also evaluating strategic options after a clearance from the U.S. Food and Drug Administration for its CompuFlo Epidural System, Milestone said.

“Following our recent 510(k) clearance from the U.S. Food and Drug Administration, we have received extremely positive industry feedback regarding our CompuFlo Epidural System,” Bernhard said in a statement. “Both the board and senior management are laser-focused on building a cost-effective global distribution network, which may include strategic partnerships, distribution agreements and/or licensing opportunities. Based on the outcome of these discussions, we will direct resources toward those opportunities that we believe provide the greatest value and return on capital for shareholders.”

Bernhard has served as the company’s non-executive chairman since October 2009, and as a director since May 2003.

“I am fully confident in the ability of the current senior management team to execute on our near-term goals, and longer-term strategic vision, to establish CompuFlo as the standard of care in painless and precise drug delivery across the U.S., Europe and around the world,” she said.

Bernhard is co-founder and former CEO of AdStar Inc., an electronic ad intake service to the newspaper industry. She holds a variety of board seats, as well.