Weapons Technology Repurposed For Peaceful Use In Medical Prosthetics
Manhattan Scientifics' Inventor Terry Lowe Puts His Money Where His Mouth Is 1st U.S. Nano Titanium Dental Implant Placed In Inventor's Mouth From Mortar To Molar Dental Prosthetics Are Only The Tip Of The Iceberg For New Class Of Metals
October 13, 2010
"We are already cash-flow-positive thanks to our budding relationship with our top-class industrial manufacturing partner. Our business plan to focus on the nano-medicine space is expected to create significant earnings for us in the near term."
Albuquerque, N.M.—A group of ground-breaking American and Russian scientists, led by Dr. Terry Lowe, chief scientist at Manhattan Scientifics (MHTX) are taking Cold War weapons technology and repurposing it for peaceful use in medical prosthetics and dental implants. Manhattan Scientifics holds exclusive licensed U.S. rights from the Los Alamos National Laboratory in New Mexico.
Nanotitanium, a new FDA-approved super-metal that is stronger than conventional metal alloys, integrates more quickly with human bone -- and is expected to be more reliable, longer lasting, and provide faster post-surgery healing. Nanotitanium is the product of a collaboration of U.S. scientists at the Los Alamos National Laboratory and Russian weapons technology scientists who teamed together under direction from the U.S. Global Initiative for Proliferation Prevention at the U.S. Dept. of Energy.
On Thursday, Oct. 14 the first FDA-approved dental implant made with nanotitanium will be installed in the mouth of Dr. Terry Lowe, the scientist who helped develop it. The Oct. 14 procedure will be followed by a press conference at 1 p.m. Oct. 15, to announce the official start of the production and sales of nanostructured titanium.
The dental implant is manufactured and distributed by Basic Dental Inc. of Albuquerque, under a limited license from Manhattan Scientifics, who also issued a broader exclusive license to a major Fortune /1000 U.S. NYSE metals manufacturing company to cover other medical and non-medical applications for the new class of super strong / super light metals.
CEO Manny Tsoupanarias says, "The dental implant market is characterized as a large under-penetrated global opportunity. In the recent years, increasing aging population coupled with rising awareness for oral health, high esthetics and improved dental treatments have boosted the growth of this segment to double digits thanks to the rising edentulous population worldwide."
"We're living longer and we need new parts," says Marvin Maslow, Manhattan Scientific founder and director of public relations and investor relations. "Manhattan Scientifics is in the new parts business and it is a big business. The current worldwide dental implant market is $3.5 billion this year according to a study prepared by Kalorama Information. The potential for our new product beyond the dental market is significant. 'Dental' application is only the tip of the iceberg. The global market for minimally invasive prosthetic devices is presently at $23 billion. Our goal by introducing Nanotitanium is to trigger the beginning of a new era for the prosthetics and medical device industry."
Mr. Tsoupanarias added, "We are already cash-flow-positive thanks to our budding relationship with our top-class industrial manufacturing partner. Our business plan to focus on the nano-medicine space is expected to create significant earnings for us in the near term."
About Manhattan Scientifics
Manhattan Scientifics Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of disruptive 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. Such forward-looking statements 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. 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.
Manhattan Scientifics, Inc.
Marvin Maslow, Director of PR & IR, 917-923-3300
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U.S. & Canadian Investor Relations
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