Manhattan Scientifics (MHTX) Announces Collaboration with MD Anderson Cancer Center to Validate New Instrument for Very Early...
January 27 2014 - 11:38AM
Business Wire
Manhattan Scientifics (OTC: MHTX) executed an agreement to
collaborate with The University of Texas MD Anderson Cancer Center
(MDACC) to advance, demonstrate and validate a breakthrough
technology developed by Edward R. Flynn, PhD, for the very early
detection of cancer. Dr. Flynn is the founder and chief scientist
of MHTX’s subsidiary, Senior Scientific LLC. Senior Scientific is
seeking to commercialize this patented non-invasive technology
using ultra-sensitive magnetic detectors to locate, identify and
measure tumors thousands of times smaller than detectable using
current technologies.
Manhattan Scientifics, Inc., together with the National
Institute of Health, financed the development and construction of
the new medical instrument that may become the next important
evolutionary step in cancer diagnostics, which we believe will
provide a dramatic advance beyond PET, MRI, CT and X-ray.
Senior Scientific selected MD Anderson to test the new system
because of MD Anderson’s advanced cancer research facilities and
the shared goal of bringing Senior Scientific’s technology from
"bench to bedside.”
MD Anderson is collaborating with Senior Scientific to test the
technology because of its potential to avoid false positives and
provide the ability to detect cancer years earlier than other
approaches. In many cancers, early detection is the key to
cure.
Senior Scientific’s technology uses iron oxide nanoparticles and
biomarkers to target specific cancer cell receptors. The instrument
is used to rapidly magnetize, and then detect, the nanoparticles
that have found cancer cells. The resulting measurement is specific
to the targeted cells and is much more sensitive than existing
technologies.
Following two years of informal collaboration, MD Anderson and
Senior Scientific have now inked a deal to formally collaborate on
this technology seeking a path toward FDA approval and human
diagnostic applications. Under the collaboration agreement
announced today, Senior Scientific will supply a next generation
instrument to MD Anderson during the first quarter of 2014. MD
Anderson will be the first institution to use the new technology in
its cancer research programs.
Dr. Flynn said, "Cancer remains the second most common cause of
death in the U.S., accounting for nearly one of every four deaths.
Our formal collaboration with MD Anderson brings to fruition years
of research from our MHTX team. I am excited to reach this
important milestone which places our ground breaking technology
into the skilled hands of the physicians and researchers at MDACC
to help fight Cancer, the emperor of all maladies."
About Manhattan Scientifics
Manhattan Scientifics Inc. (www.mhtx.com,
www.SeniorScientific.com) located in New Mexico, New York
and Montreal, is focused on the commercialization of disruptive
technologies in the nano-medicine space. It has achieved several
critical milestones in the development of its proprietary
technology for the very early detection of cancer. The company is
also at work with its licensed NYSE "partner" to commercialize
medical prosthetics applications for its patented ultra-fine-grain
nanotechnology metals.
About MD Anderson
The University of Texas MD Anderson Cancer Center is one of the
world’s most respected centers devoted exclusively to cancer
patient care, research, education and prevention. The mission of
The University of Texas MD Anderson Cancer Center is to
eliminate cancer in Texas, the nation, and the world through
outstanding programs that integrate patient care, research and
prevention, and through education for undergraduate and graduate
students, trainees, professionals, employees and the public. At MD
Anderson, important scientific knowledge gained in the laboratory
is rapidly translated to clinical care. Overall, MD Anderson's
research program is considered one of the most productive efforts
in the world aimed solely at cancer.
Forward-looking statement
This press release contains forward-looking statements, which
are subject to a number of risks, assumptions and uncertainties
that could cause the Company's actual results to differ materially
from those projected in such forward-looking statements. Management
at Manhattan Scientifics believes that purchase of its shares
should be considered to be at the high end of the risk spectrum.
Forward-looking statements speak only as of the date made and are
not guarantees of future performance. We undertake no obligation to
publicly update or revise any forward-looking statements.
Manhattan Scientifics, Inc.PR, IR, general informationMarvin
Maslow, 917-923-3300Email: marvin@mhtx.comorCorporate
Advisory/PRFastnet Advisors:Anthony Furey, 631-665-1234Email:
mtfurey@fastnetadvisors.comorHawk Associates:Frank Hawkins,
305-451-1888Email: f.hawkins@hawkassociates.comorEuropean
Contact:Herbert Strauss, +43-316-296-316Email: herbert "at"
eu-ir.comorAnalyst:SeeThruEquity, LLCAjay Tandon,
646-495-0939Co-Founder and Director of
Researchorwww.mhtx.comwww.seniorscientific.com
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