QuantRx® Biomedical Announces FluoroPharma to Present Results of CardioPET Phase I Trial at Society of Nuclear Medicine High Country Conference
DOYLESTOWN, PA --February 21, 2008 -- QuantRx® Biomedical Corporation (OTC BB:QTXB), a broad-based diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry, today announced that Dr. David Elmaleh, Chairman and Chief Scientific Founder of FluoroPharma, will present findings from the company’s Phase I trial for CardioPET, a metabolic cardiac imaging agent for the assessment of coronary artery disease at the Society of Nuclear Medicine’s (SNM) annual High Country Nuclear Medicine Conference in Denver, Colorado. During his presentation, Dr. Elmaleh will discuss the results of the recently completed trial, including findings in healthy subjects and patients with CAD. The presentation will be part of the “Clinical Trials Update” session on Saturday, March 1, 2008. CardioPET is FluoroPharma’s first of three cardiovascular imaging agents to enter clinical trials.
“Cardiovascular imaging, especially with PET, is beginning to gain traction, and we are excited to present our findings to our colleagues in the field of nuclear medicine,” said Dr. Elmaleh. “With this milestone we are continuing our commitment to make meaningful contributions to the early and accurate diagnosis of coronary disease.”
The Phase I trial was a single-center, open-label study, designed to evaluate safety, dosimetry, and pharmacokinetics of CardioPET as a PET tracer for myocardial imaging. Fifteen normal healthy volunteers and six CAD patients participated in the Phase I trial.
FluoroPharma is a molecular imaging company engaged in the discovery and development of proprietary products for the PET market. FluoroPharma is advancing three proprietary products for assessment of acute and chronic forms of coronary disease. These agents have been designed to rapidly target either the myocardial cells within the heart or vulnerable plaques within the coronary arteries.
About QuantRx Biomedical
QuantRx Biomedical Corporation (OTCBB: QTXB) is a broad-based diagnostics company focused on the development and commercialization of innovative diagnostic products based on its patented technology platforms for the worldwide healthcare industry. With synergistic expertise in the discovery of diagnostic platforms and the commercialization of products for use by healthcare professionals and consumers, QuantRx is focused on providing more accurate, reliable, and faster diagnoses that result in improved patient care.
The QuantRx strategy targets significant market opportunities estimated to be in excess of $5 billion worldwide. The Company's technology portfolio, with more than three dozen patents, patents pending and licensed patents, includes: (1) RapidSense® point-of-care testing products based on QuantRx core intellectual property related to lateral flow techniques for the consumer and healthcare professional markets; (2) genome-based diagnostic chips for the laboratory and healthcare professional markets; (3) molecular imaging agents for positron emission tomography (PET) and fluorescence imaging, with initial application in cardiovascular disease, addressing significant unmet medical needs by providing clinicians with important tools for early discovery and assessment; and (4) PAD technology for diagnosis and treatment of women's health concerns and other medical needs.
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management's current expectations, management's current plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict including; general economic conditions, the Company’s need for additional funds, the early state of the products the Company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the Company's ability to avoid infringement of the patent rights of others, and the Company's ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. QuantRx does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Adam Lowensteiner (Investors)
Alisa Steinberg (Media)
Wolfe Axelrod Weinberger Associates, LLC