NEW YORK--Manhattan Scientifics, Inc. announced today that Marvin Maslow, founder of MSI, has re-joined the Company’s Board of Directors as Chairman.
MHTX also announced that it has retained Imperial Capital, LLC to explore strategic alternatives for its Metallicum division.
CEO Manny Tsoupanarias said, "In reacquiring our nano-metals technology from our former licensee we believe we added in excess of $10 million in non-cash assets to our balance sheet, plus $8.0 million in cash. We believe our metals technology is more vital now than ever before. Accordingly we retained the M&A services of Imperial Capital, LLC, an investment bank, to explore strategic alternatives to capitalize on our metals technology as it relates to Metallicum Inc.
“I am delighted that Marvin has agreed to return to active duty on the Board. Since stepping down in 2008, Marvin has remained a valuable source of guidance and wisdom to our Company, to our Board, corporately and personally. Marvin's return to lead the Board of the Company he founded is a reflection of MHTX’s growth and expanding need for talented, experienced management. Marvin is dedicated to assisting management to enhance shareholder value.”
Manhattan Scientifics Inc. is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of transformative technologies in the nano medicine space. The company is presently developing commercial medical prosthetics applications for its ultra-fine grain metals and plans to commercialize the cancer research work and nano medical applications developed by Senior Scientific LLC, a unit of the Company.
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.