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New Technology 100% Radiation Free
Manhattan Scientifics, Inc. (OTCBB: MHTX) announced today that its "early cancer detection" technology, developed by Edward R. Flynn, Ph.D. is expected to identify breast cancer three years earlier than the current gold standard mammogram test. Dr. Flynn is a pioneer in the emerging field of nanomedicine.
When fully developed and commercialized, Dr. Flynn's biomagnetic-based system will be 100% radiation free, unlike current radiation-based mammogram tests. Manhattan Scientifics is currently seeking a partner to commercialize the technology.
To reduce harm from over-treatment and radiation, new medical guidelines recently issued by the U.S. Preventive Services Task Force recommended that women begin regular breast cancer screening at age 50, rather than age 40. "Annual mammograms for most women in their 40's have more drawbacks than benefits...." according to an article published by Bloomberg News, November 17, 2009.
CEO Manny Tsoupanarias said, "We believe early detection of cancer can be critical to effective treatment. Current mammography cannot detect a breast cancer tumor until it has grown to over ten million cells. Dr. Flynn's technology has proven the ability to detect breast cancer tumors only 1% that large, resulting in a hundred-fold increase in sensitivity and early detection.
"The new technology has demonstrated similar early detection performance for ovarian cancer, a cancer that currently has no effective screening techniques. Our technology also demonstrated effectiveness in monitoring chemotherapy for leukemia, allowing more effective treatment with fewer side effects. Dr. Flynn's work has been supported for eight years by nine grants from the National Institutes of Health and a grant from the U.S. Department of Defense. The technology is protected by issued and pending patents," Tsoupanarias said.
Dr. Flynn said, "Our approach uses sophisticated magnetic field sensors to measure extremely small magnetic fields emitted by magnetic nanoparticles that have been injected into the body and targeted specifically toward cancer cells. This method yields high contrast images of tumors compared to normal cells. With this biomagnetic imaging technique, it is possible to identify and image tiny clusters of cancer cells, providing the ability to find cancer at a substantially earlier stage than is presently possible. This has a distinct advantage over other imaging methods in that it detects only particles bound to targeted cells and is not sensitive to unbound particles where other methods may be overwhelmed by the unbound particles. It is done without the use of ionizing radiation. This biomagnetic sensor method is applicable to breast, ovarian, leukemia, prostate and potentially to many other cancers."
Tsoupanarias added, "As an inventions company, our strategy is to partner with large, well financed, experienced manufacturers and marketers. Manhattan Scientifics typically receives royalty income and fixed fees from its industrial partner. Our new class of metals nano-technology business is a clear and profitable example of our business model. We have a long way to go with our early cancer technology, but we are excited about the obvious prospects, both for the overall improvement of early cancer detection as well as for our own business."
On February 25, 2010, Manhattan Scientifics announced that it had acquired exclusive rights to commercialize Dr. Flynn's work.
Forward looking statement This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected. Factors that may cause actual results and outcomes to differ materially are described in our publicly filed reports including, but not limited to, failure to realize projected revenues and cash flows, market conditions and other factors that could negatively affect the market for our technology. . We undertake no obligation to publicly update or revise any forward-looking statements.
About Manhattan Scientifics
Manhattan Scientifics, Inc. operates with locations in New Mexico, New York, and Montreal. The company’s goal is to advance and commercialize disruptive technologies to create profit for its shareholders in the field of nanomedicine.
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Manhattan Scientifics, Inc.
Marvin Maslow, Director of PR & IR, 917-923-3300
Herbert Strauss, +43-316-296-316
Frank Hawkins, 305-451-1888
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