CEO Manny Tsoupanarias Reports Rate of Progress Moving Forward towards Commercialization
ALBUQUERQUE, N.M. — (BUSINESS WIRE) — August 13, 2012 — Manhattan Scientifics (OTCBB: MHTX) announced today that it has achieved several critical milestones in the development of its proprietary technology for the early detection and treatment of cancer.
Manhattan Scientifics CEO Manny Tsoupanarias said, “Our team at Senior Scientific is making exceptional progress on a number of important fronts. The value of our patented technology is increasing with each new development. We are particularly excited about the progress of our cancer diagnostic machine, a superconducting quantum interference device (SQUID). When fully developed, it may provide clinicians with actionable information that is not currently available without a biopsy or repeated exposure to radiation. Sensitivity is expected to be superior to any other advanced imaging modality including PET, CT, MRI, X-Ray or Mammogram. Ultimately we believe it is potentially disruptive enough to be able to carve out large segments of the market that are currently served by those technologies.”
Gerald Grafe, president of MHTX’s Senior Scientific subsidiary, described the company’s recent progress: “We are excited about our completed design for a new sensor system. The new system will give us the ability to detect down to a few hundred cells, 100 times more sensitive in detecting cancer cells than the present instrument which is already 1000 times more sensitive than a mammogram. This is extremely important in detecting cancer that has metastasized. It is anticipated that construction of the new machine will begin in the coming months. We continue to expand our patent estate, and now have three U.S. patents four PCT and three U.S. utility applications pending, national phase applications pending in 10 other countries, and several more applications in process. We have agreements in place and have begun exchanging samples to start joint work with America’s No.1 Cancer research hospital center. Working with the Center for Integrated Nanotechnologies at Sandia National Laboratories, we can now produce nanoparticles with better performance in our system than those available commercially.”
Edward R. Flynn, Ph.D., Senior Scientific’s Chief Scientist and principal developer of the cancer detection technology explains how it works, “The technology relies on the use of known antibodies to find and bond with cancer cells in the body. Attached to the antibodies are very small particles of iron-oxide (nanoparticles) that have special characteristics, including being superparamagnetic. The chemically coated and bound antibodies are injected into a patient and float through the bloodstream. Where a specific cancer matching the antibody is present, the particles attach to and coat the outside of the cells. Where there is no cancer, the particles float free and random, thus enabling the physician to identify whether or not cancer exists, its location and quantity.”
Dr. Flynn continued, “The technology developed at Senior Scientific has now been used to increase the sensitivity and specificity for finding ovarian cancer at an early stage. Results of experiments on ovarian cancer cell has shown this technology can easily identify the different types of ovarian cells and is now being used to do research on new markers for ovarian disease. These very important results will lead to earlier identification of ovarian cancer as well as identification of new methods for determining it is ovarian cancer and not a benign cyst in the ovaries. These results will shortly be submitted for publication in a peer-reviewed publication.”
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 disruptive 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.
About Senior Scientific
Senior Scientific, LLC ( www.seniorscientific.com) is a New Mexico Company with research facilities located at the University of New Mexico Science and Technology Park in Albuquerque, New Mexico and longstanding relationships with the University of New Mexico Health Sciences Center, the Los Alamos National Laboratories, and the Center for Integrated Nanotechnology (CINT) at Sandia National Laboratory. The Company’s focus is in the emerging field of molecular imaging and nanobiotechnology for the early detection and localization of cancer and other human diseases, and is the leader in a technology called Nanomagnetic Relaxometry (“NMR”). Its proprietary technologies and methods employ magnetic nanoparticles targeted towards cells associated with cancer and other diseases, and detect those cells tagged with magnetic nanoparticles through sophisticated magnetic sensors.
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