ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Three months ago Manhattan Scientifics (OTCQB: MHTX) announced the delivery of its 1st breakthrough cancer measurement instrument to M.D. Anderson Cancer Center in Houston.
The Company's technology uses iron oxide nanoparticles and a technique it calls Magnetic Relaxometry to locate and measure cancers with a sensitivity that would provide a diagnosis years before other known methods. It is generally believed that very early detection of cancers may well lead to their early elimination prior to metastasis and growth.
Last January the company executed an agreement to collaborate with M.D. Anderson to advance, demonstrate and validate its breakthrough technology which was developed by Edward R. Flynn, PhD.
Dr. Flynn is the founder and chief scientist of the company’s subsidiary, Senior Scientific LLC whose research was funded by the NIH over an 8 year period. Thereafter Manhattan Scientific undertook the commercialization, management and financing to take the science from "bench to bedside". The Company has recently engaged special FDA consultants in order to accelerate regulatory approval.
Sara McKenzie, FDA specialist said, "PharmaDirections is a professional consulting firm that has ushered some 22 pharmaceutical and medical device companies, large and small, through the labyrinth of the FDA. We have been retained to guide your project through the regulatory process and are optimistic, with high expectations, to be successful within a reasonable timeframe. "
Management believes its technology will emerge as the next important evolutionary step in cancer diagnostics; the next step beyond X-ray, sonography, MRI, CT, and PET scanning.
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 nano medicine space. The company is presently developing commercial medical prosthetics applications for its ultra-fine grain metals and plans to commercialize the cancer research work and nano medical applications developed by Senior Scientific LLC, a unit of the Company.
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.