Molecular Targeting Technologies, Inc. licenses Novel Targeting agent from Medical College of Wisconsin

WEST CHESTER, Pa.--(BUSINESS WIRE)--Molecular Targeting Technologies, Inc., (MTTI) announced that it has obtained an exclusive license from the Medical College of Wisconsin (MCW) for rights to a US patent covering the synthesis and characterization of ^99mTc-HYNIC-Duramycin for the non-invasive imaging of dead and dying cells.

“We are excited about MTTI’s aggressive plan for bringing our radiopharmaceutical to clinicians”

^99mTc-Duramycin imaging will initially be developed for the diagnosis of Acute Coronary Syndrome (ACS) in chest pain patients with no obvious signs of heart attack. Each year in the United States and Europe approximately 15 million patients enter hospital emergency departments complaining of chest pain suggestive of heart attack. Determining the cause of chest pain remains difficult and errors are frequently made. The Company estimates that 10 to 20% of these patients will be determined not to have a clear indication of the cause of their chest pain and will need further evaluation. These cases may be candidates for ^99mTc-Duramycin imaging for the diagnosis of ACS.

“We are excited about MTTI’s aggressive plan for bringing our radiopharmaceutical to clinicians,” said Joseph Hill, Ph.D., Vice President of Technology Development at MCW.

Chris Pak, President and CEO of MTTI commented, “The more reliable diagnosis of chest pain afforded by ^99mTc-Duramycin will result in substantial savings to the healthcare system through decreased hospitalizations of patients for which ACS cannot be ruled-out with current diagnostic modalities”.

The novel targeting agent was first disclosed to MCW’s Office of Technology Department in the summer of 2007 by Ming Zhao, Ph.D., who was then a faculty member in MCW’s Department of Biophysics, and now serves as an adjunct MCW faculty member.

Molecular Targeting Technologies, Inc. is a privately held biotechnology company primarily focused on the identification, evaluation, acquisition and development of novel technologies for diagnosis and treatment of human diseases. Please visit our website: www.mtarget.com for more information.

The Medical College of Wisconsin is the state’s only private medical school and health sciences graduate school. Founded in 1893, it is dedicated to leadership and excellence in education, patient care, research and service. Please visit our website: www.mcw.edu for more information.