ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Manhattan Scientifics, Inc. (OTCQB: MHTX) announced today that it has delivered its break-through, cancer measurement instrument to The University of Texas M.D. Anderson Cancer Center in Houston, TX.
On January 27th 2014, the company executed an agreement to collaborate with M.D. Anderson to advance, demonstrate and validate a breakthrough technology developed by Edward R. Flynn, PhD. Dr. Flynn is the founder and chief scientist of the company’s subsidiary, Senior Scientific LLC. Senior Scientific is seeking to commercialize its patented technology using iron oxide nanoparticles that bind with individual cancer cells which will enable physicians to locate, identify and measure tumors thousands of times smaller than otherwise detectable with current technologies.
Manhattan Scientifics, Inc., together with the National Institute of Health, financed the development and construction of the new medical instrument. Management believes this new technology, called magnetic relaxometry or MRX, will emerge as the next important evolutionary step in cancer diagnostics; the next step beyond X-ray, sonography, MRI, CT, and PET scanning. With many types of cancers, very early detection is the key to successful therapy and cure. For further information please refer to the company's two websites listed below.
Dr. John D. Hazle, Professor and Chairman of the Department of Imaging Physics, MD Anderson, said, “This is a truly exciting new technology. With the system now located in our lab, our goal is to fully exploit the capabilities and push the limits of detectability. We are starting this scientific journey with ovarian cancer where early detection continues to limit our ability to effectively treat this disease. With new risk indicators, some developed right here at M.D. Anderson, we hope to include MRX in a new paradigm of early detection for ovarian and other cancers.”
About Manhattan Scientifics
Manhattan Scientifics Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of transformative technologies in the nanomedicine space. The company is pursuing its "licensing" business model. The company's ultra-fine grain metals titanium application has been licensed to a Fortune/1000 NYSE company positioning the company's Metallicum unit as cash flow positive.
About Senior Scientific
Senior Scientific (www.seniorscientific.com) facilities are located at the University of New Mexico Science and Technology Park in Albuquerque, New Mexico. The company has developed a novel bioimaging and nanomagnetic detection systems to detect cancer and other diseases earlier and with higher specificity than is currently possible. The technology makes possible the earlier detection of cancer in vivo, the ability to analyze biopsies with greater sensitivity and accuracy, the ability to monitor the therapeutic effectiveness of anticancer treatments—both in humans and in animal models—and allows it to detect cancer recurrence with significantly improved sensitivity.
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.