News ItemSenior Scientific Bought by Manhattan Scientifics
January 9, 2012 –
Submitted by Shannon Sheehan, Ph.D., M.B.A.
Regular participants to New Mexico BIO have undoubtedly met long time member Dr. Edward Flynn, founder of Senior Scientific and Chief Scientist. Senior Scientific (SST) has been a member of New Mexico BIO for many years. On June 7th of this year Manhattan Scientifics (OTCBB: MHTX) announced the acquisition of SST, LLC and its affiliate Scientific Nanomedicine Inc.
Senior Scientific focused on innovative nanotechnology to detect breast, prostate, pancreatic, brain, and other cancers years earlier than current diagnostic techniques. Based on magnetic nano particles infused with antibodies that bind with cancer cells, the technology pinpoints the exact location, classification and rate of growth of cancers. The non-radiation technology is capable of recognizing as few as several thousand-cancer cells whereas mammograms currently in use require 100 million cancer cells in order to identify a tumor. The system can be used for both diagnostics and targeted therapies.
The infusion of capital will allow SST to accelerate the development of it’s technology from the laboratory to a clinical environment working cooperatively with the major cancer research centers in the U.S. “This is truly an exciting time.” Edward R. Flynn, PhD, said, “I will continue to play a major role in developing this technology towards experimental and clinical applications. The past grants I received from the National Institutes of Health helped take the technology from concept to a working prototype. Now with the major commercializing role of Manhattan Scientifics, we can rapidly advance the technology from the laboratory to a clinical environment working cooperatively with the major cancer research centers in the U.S.”
Marvin Maslow, Founder & Chairman Emeritus of Manhattan Scientifics, said, “The Senior Scientific technology is stunning and the enthusiastic acceptance of it for experimental clinical work by America’s most important cancer hospitals and cancer research centers is equally stunning. Our team leaders and collaborators, Dr. Richard Larson, V. Gerald Grafe and Spencer Falk have shown great determination to accelerate the commercialization process.” Dr. Larson Vice President of Translational Research at University of New Mexico Health Sciences Center is a long standing Board Member of New Mexico BIO.