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Manhattan Scientifics Announces Business Updates

2020-01-14 10:00 ET - News Release

$30 million and 10 years work - Our two nanotechnologies are in the best of hands awaiting commercialization


NEW YORK -- (Business Wire)

Manhattan Scientifics Inc. (MHTX: OTCQ: BB) announces business updates on its two nano technologies.

The Nanometals Project, On May 2nd 2019 MHTX announced that it completed its licensing deal with a large American metals manufacturer. Under the agreement, Manhattan Scientifics will receive 7-figure payments staged over a 4 year period, in addition to royalty payments on sales of products made that utilize its nano metals technology.

Marvin Maslow, Chairman of MHTX said, “The process of learning how to commercialize and mass manufacture our metals is in excellent hands with the metals manufacturer that dominate their multi-billion dollar industry.”

Nano-Medicine Cancer Project, Manhattan Scientifics Inc.’s former wholly-owned subsidiary, Imagion Biosystems Ltd (ASX: IBX), has also made some very good progress over the last few months and recently traded over 95M shares and its Mkt cap exceeds $14.8 million.

  • On July 18th, 2019, Imagion announced that it had received confirmation from the Food and Drug Administration (FDA) that the MagSense System and Test for staging HER2 breast cancer has qualified for and been granted designation as a breakthrough device.
  • On November 22nd, 2019, Imagion announced the successful completion of the renounceable rights issue raising approximately AUD $3.6 million.
  • On November 27th, 2019, Imagion announced that NewPhase Ltd., an Israeli biotechnology company developing cancer treatments, has placed an order totaling approximately $300K for the supply of Imagion’s proprietary nanoparticles for 2020 to be used in the NewPhase product.

Management at MHTX continues to explore acquisition of a substantial private technology company and a goal to uplist MHTX to NASDAQ.

We will continue to report progress as it unfolds.

About Manhattan Scientifics, Inc.
Manhattan Scientifics Inc. (www.mhtx.com) 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.

Contacts:

Manhattan Scientifics, Inc.
Manny Tsoupanarias, 917-688-4158
Manny@mhtx.com
Or
Marvin Maslow, 917-923-3300
Marvin@mhtx.com

Source: Manhattan Scientifics Inc.

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