LOS ALAMOS, N.M., Jul 08, 2008 -- Manhattan Scientifics (Pink Sheets:MHTX) announced today that immediately after its recent acquisition of Metallicum Inc., the company began manufacturing and seeking licensing partners for NanoTitanium, its proprietary new form of nanostructured metal developed by scientists at Los Alamos National Laboratory in conjunction with colleagues in Russia. The company also began pursuing strategic corporate partners in the auto, truck, rail, aircraft manufacturing and medical industries.
Manhattan Scientifics' acquisition of Metallicum Inc. was an important step towards formulating its new business plan, positioning itself as a "green" technology development company. On July 2, 2008 U.S. Senator Jeff Bingaman led a news conference describing Manhattan Scientifics' positive potential impact on New Mexico and the U.S.
The use of super stronger metals means less material is required for the same purpose, translating to lighter weight and reduced environmental impact. The proprietary technology is expected to trim thousands of pounds from airplanes and hundreds of pounds from cars without sacrificing structural strength or adding significant cost. The fuel savings to the American public could be significant. A New York Times article on June 11 titled To Save Fuel, Airlines Find No Speck Too Small further details how airlines are scrutinizing every step of their operations, searching for new ways to cut fuel bills.
The company's nanostructured metals also have wide implications for use in the medical device and prosthetics industries including cardiovascular stents, dental implants, and replacements for hips, shoulders and knees. Clinical studies have shown that bone integrates with these new metals up to 20 times faster than with conventional metals. This means faster healing after surgery and ultimately longer lifetime for nanostructured metal implants.
Recently, Manhattan Scientifics recruited new management, raised $1.75 million of capital, purchased and cancelled 43 million of its own shares, and dedicated itself to growth by acquisition.
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.