ALBUQUERQUE, N.M.--Manhattan Scientifics, Inc. (OTCBB: MHTX) announced that Senior Scientific LLC is the recipient of four grants totaling $702,899 awarded by the Qualifying Therapeutic Discovery Grant Program. The grants are funded by the US government to develop new therapies, reduce long-term health care costs, and advance the goal of curing cancer; exact use of proceeds will be determined by Senior Scientific. Manhattan Scientifics has the exclusive rights to commercialize Senior Scientific’s Cancer Detection and Treatment technology, improving health care while reducing the cost of medical treatment.
These awards substantiate the unique programs of Senior Scientific to use advances in nanotechnology and nanomedicine to detect and treat disease at an early stage. The four grants received are for different applications of this new nanotechnology developed by Senior Scientific. All of these programs have been funded by Phase II Small Business Innovative Research grants from the NIH.
The NIH awards and the new QTDP grants cover four projects: (1) development of a new sensitive method for detecting early stages of breast cancer and monitoring therapy; (2) detection of ovarian cancer before symptoms appear that indicate the cancer has already spread; (3) detection of minimal residual disease in leukemia patients undergoing treatment with the goal of minimizing chemotherapy; and (4) development of a non-invasive method to determine if a transplanted organ is being rejected (without the need for a biopsy), and to determine if anti-rejection therapy is required.
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.
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 in such forward-looking statements. 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.