Manhattan Scientifics (MHTX) scoops up rival, boosts price
Posted on: June 6th, 2011Written by:
Manhattan Scientifics (OTCBB: MHTX) jumped in price 18.6% Monday morning to 8.3 cents, on word it had acquired Senior Scientific LLC and its affiliate, Scientific Nanomedicine Inc. Share volume totaled 374,000, nearly doubling its all-day average.
Primarily developed by Edward R. Flynn, Ph.D, the groundbreaking nanotechnology can detect and measure initial cancers and cancer metastases much earlier than is possible with current techniques. The technology is applicable to breast, prostate, ovarian, pancreatic, brain, and other cancers years earlier than current diagnostic techniques.
The technology uses magnetic nanoparticles combined with antibodies that target specific kinds of cancer cells. Special instrumentation can precisely locate and accurately count the number of cancer cells present based on the nanoparticles bound by antibodies to the cancer cells.
The nanoparticles are nontoxic, and the instrumentation does not require radiation or strong magnetic fields. The new technology can detect, locate, and measure tumors that are only 1/1000 the size required by conventional imaging techniques. As an example, the new technology can detect breast cancer several years earlier than is possible with a mammogram.
Manhattan CEO Manny Tsoupanarias commented, “Dr. Flynn has transitioned from his earlier role as a key Los Alamos Laboratory nuclear physicist applying his knowledge of physics and avoiding the use of the scalpel in his approach to dealing with cancer.
“He and his colleagues at Senior Scientific and at the University of New Mexico Health Science Center have developed a novel, out-of-the-box approach to early detection and treatment of cancer. The technology is in keeping with our company’s focus on commercializing nanotechnologies in the field of advanced medicine.” Tsoupanarias concluded.
Manhattan Scientifics Inc. 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.
