Manhattan Scientifics Names V. Gerald Grafe To Commercialize Senior Scientific

August 2, 2011

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ALBUQUERQUE, N.M.--Manhattan Scientifics (OTCBB: MHTX) today announced it has named V. Gerald Grafe to lead the commercialization of Senior Scientific. On June 6th Manhattan Scientifics announced its acquisition of Senior Scientific LLC to commercialize the groundbreaking tools for cancer detection, diagnosis, and treatment originated by Dr. Edward R. Flynn Ph.D. The new nanotechnology tools can detect tumors and metastases much earlier than currently possible, and can measure and locate tumors more precisely than ever before. The technology can enable personalized and precise treatment since it can identify the exact type of cancer cells present, allowing doctors to design treatments for the exact type and extent of cancer present.

Mr. Grafe, 47, has focused his career on developing new technologies. He has served as legal counsel and advisor to over 100 early stage companies, with successes in strategic IP and patent planning, venture capital financing, and technology transfer with Sandia and Los Alamos labs and with the University of New Mexico. Under a consulting agreement, Mr. Grafe will serve as the President of Senior Scientific.

Manhattan CEO Manny Tsoupanarias said, "On June 6th we announced the acquisition of Senior Scientific and its game-changing medical/cancer technology. The Senior Scientific technology has the potential to dramatically improve detection and treatment in a wide range of cancers, and I believe Gerald is the ideal person to integrate the many elements needed to realize that potential. He has exactly the experience bringing new and highly technical ideas to life that Senior Scientific needs: protection of intellectual property, strategic planning, financing, and strategic partner relationships. Our board and management are honored to have Gerald Grafe accept the presidency of Senior Scientific."

Marvin Maslow, Manhattan Scientifics Founder said, "Gerald Grafe is the best man for the job. We are blessed to have him undertake this responsibility. Gerald Grafe brings us an impressive array of outstanding business, technical, medical and patent legal skills. He will drive our team to achieve our corporate goal: significant profit and creation of substantial shareholder value while we positively impact humanity by helping overcome the horrors of cancer, the emperor of all maladies."

Mr. Grafe has served in private legal practice for the past decade as general counsel and intellectual property counsel for various venture-funded and public companies and New Mexico venture capitalist investors. He provided initial company strategic planning, U.S. and foreign intellectual property strategy and implementation, and counsel and management of license, financing, and strategic partner relationships. Clients include CVI, InLight Solutions, TruTouch Technologies, VeraLight, Luminous Medical, Novint Technologies, Manhattan Scientifics, ARS-USA, Vertical Power, Avanca, Aspen Avionics, and NASUS. Mr. Grafe has for many years been an advisor to early stage technology companies at TVC's Equity Capital Symposium.

Before he began his work with startup companies, Mr. Grafe was an attorney in Sandia National Laboratories, where he worked as Intellectual Property legal counsel for divisions including robotics, computing, and systems. He helped define intellectual property mining and protection practices, filed and prosecuted a number of patents, developed technology transfer practices, and helped close many technology transfer transactions. Before moving to the legal department, he was a Senior Member of Technical Staff at Sandia National Laboratories, working on topics involving advanced electrical and computer technology, including: medical imaging, parallel computer architectures, network computing, embedded computing, and robotic vision.

Mr. Grafe holds a B.S. in Electrical Engineering from Texas A & M summa cum laude, an M.S. Electrical and Computer Engineering from the University of New Mexico, and earned his Juris Doctor summa cum laude from the University of New Mexico School of Law.