Manhattan Scientifics, Inc., a company focused on technology transfer and the commercialization of transformative technologies in the nanotechnology space, recently announced that it has delivered its break-through, cancer measurement instrument to The University of Texas M.D. Anderson Cancer Center in Houston, TX. According to a recent press release management believes this new technology, called magnetic relaxometry or MRX, will emerge as the next important evolutionary step in cancer diagnostics; the next step beyond X-ray, sonography, MRI, CT, and PET scanning. With many types of cancers, very early detection is the key to successful therapy and cure.
Dr. John D. Hazle, Professor and Chairman of the Department of Imaging Physics, MD Anderson, said, "This is a truly exciting new technology. With the system now located in our lab, our goal is to fully exploit the capabilities and push the limits of detectability. We are starting this scientific journey with ovarian cancer where early detection continues to limit our ability to effectively treat this disease. With new risk indicators, some developed right here at M.D. Anderson, we hope to include MRX in a new paradigm of early detection for ovarian and other cancers."
Other Key Milestones for MHTX Remain on Track:
- MHTX had previously announced a collaboration agreement with Azano Biotech during 1Q14. This agreement will provide an additional path to commercialization for MHTX's NanoMRX Precision Nanoparticles.
- Based on its own releases, the expectation still remains that MHTX's licensing partner Carpenter Technology Corp. (NYSE: CRS) is to begin production of nano-structured titanium in 2H14E. MHTX received a $600k minimum royalty payment from CRS, of which $150k was recognized in 1Q14.
I look forward to seeing more significant milestone announcements for MHTX over the next 12-18 months which should serve as catalysts for the shares.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.