Turning a good idea into a money making product can be a formidably expensive project, especially when dealing with medical substances to be introduced to the human body. FluoroPharma, developer of medical diagnostic imaging agents for use with PET (positron emission tomography) scanning, is believed to be in a strong position to accomplish exactly that with its two primary imaging assets, CardioPET and BFPET. CardioPET is an imaging agent designed for cardiac viability assessment, detecting regions of metabolic insufficiency. BFPET is designed for myocardial perfusion imaging, measuring cardiovascular blood flow. The company is about to take both of these products through phase II testing, considered an important step for attracting partners.
FluoroPharma has made significant progress in the last couple of years, advancing its pipeline of products and solidifying its finances, primarily through a reverse merger with a shell company in May of 2011. The result has been an expanded investor base. The reverse merger also helped raise money to meet the terms of the company's licensing agreement with Massachusetts General Hospital, the source of key technology. FluoroPharma announced in December that it had raised an additional $1 million from investors, for a 2011 total of over $7 million.
Cardiology is an especially promising market. Nuclear cardiologists are anxious for new tracers, and cardiology is one of the focal points for FluoroPharma agents. PET molecular imaging technology allows doctors and drug developers to create the highest resolution images of internal structures, plus, unlike most imaging, it can provide a real time view of molecular metabolism, revealing what's really happening in the body down to the cellular level. Although PET technology is currently used mostly for cancer diagnosis and monitoring, FluoroPharma believes that there is a huge potential market for cardiovascular and neurological applications. Cardiovascular disease is still the number one killer, and agents that can help in related diagnosis and drug development could be the next hot ticket.
For more information, see the company website at www.FluoroPharma.com
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