Manhattan Scientifics Inc. (MHTX: OTCQ: BB), is pleased to announce that
the company has completed an exclusive license and transfer of specialty
machines to a large American metals manufacturer who provides specialty
metals to the U.S. and global medical industry. The proprietary
technology is designed to substantially improve and strengthen the
bonding of medical prosthetics to human bone.
The global prosthetics and orthotics market size is estimated at $8.15
billion. The Company’s client serves multiple markets including vascular
therapy, cardiac rhythm management, endoscopy, orthopedics, dental, and
neuromodulation. FDA approval has been granted for use of these new
alloys in its initial dental application.
The transaction involves 7-figure payments to the Company staged over a
4 year period, in addition to royalty payments on sales made.
Manhattan Scientifics is a technology developer working closely with the
Los Alamos National Laboratory. The company is dedicated to
commercializing disruptive technologies. Previously, its founder, Marvin
Maslow, working closely with U.S. Dept of Defense, DARPA, financed and
commercialized the development of HDTV.
Mr. Maslow, Manhattan’s Founder and Chairman said, “Our Company
is focused on commercializing nanotechnologies. Our nanometals are ‘new’
and early in development. They have yet to be proven practical for large
scale commercial use. We’ve placed them in very strong hands, with
skilled manufacturing and an extensive sales and marketing team calling
on the medical industry.”
Manny Tsoupanarias, CEO, added, “One year ago we spun out our 2nd
nanotechnology, an early cancer diagnostic and took it public on the
Australian Stock Exchange (IBX.AX).
Manhattan Scientifics owns 64 million shares of IBX. Our goal is to
create wealth for our 5,000 shareholders and to follow with a large
acquisition and to up-list to the NASDAQ exchange. The cancer diagnostic
company Imagion
Biosystems, is ‘partnered’ with M.D. Anderson Cancer Center,
Houston.”
About Manhattan Scientifics, Inc.
Manhattan Scientifics Inc.
(www.mhtx.com)
is located in New Mexico, New York and Montreal. It is focused on
technology transfer and commercialization of transformative technologies.
Forward-looking statement
This press release contains
forward-looking statements, which 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. Management at Manhattan Scientifics believes
that purchase of its shares should be considered to be at the high end
of the risk spectrum. 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.
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