QuantRx® Announces FluoroPharma Issued US Patent for Imaging
DOYLESTOWN, PA – January 27, 2009 – QuantRx® Biomedical Corporation (OTCBB: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, is pleased to announce that QuantRx’s FluoroPharma, Inc. has been issued U.S. Patent No. 7,438,891, covering methods of imaging cardiovascular plaque formation using F18 labeled 2-fluorodeoxy-D-glucose (FDG), by the United States Patent and Trademark Office. This patent, exclusively licensed from the Massachusetts General Hospital (MGH), provides FluoroPharma with additional patent claims that cover imaging of atherosclerotic plaque inflammation and rupture.
“The use of 18F-FDG PET for imaging atherosclerosis, for tracking inflammation within plaque and for monitoring the response to drug therapy is promising and should be part of our future diagnostic armament,” said Dr. David Elmaleh, FluoroPharma founder and Chief Scientific Advisor.
“Molecular imaging of the inflammatory status of vulnerable atherosclerotic lesions is of paramount importance for the identification of patients at risk for a future heart attack or stroke,” said Dr. Tom Brady, Director of Nuclear Medicine and Molecular Imaging Division at the MGH. Dr. Brady added, “In vivo noninvasive clinical studies to measure carotid plaque inflammation show that 18F –FDG PET imaging can identify a subset of patients with carotid atherosclerosis that may benefit from intensified medical therapy or carotid artery intervention to prevent stroke.”
“This newly issued patent adds to FluoroPharma's already impressive patent position covering agents for imaging atherosclerotic plaque using PET," said Dr. Ljiljana Kundakovic, President of FluoroPharma, “Our broad technology platform continues to provide FluoroPharma with the ability to develop effective cardiovascular imaging agents for PET market.”
About QuantRx Biomedical (www.quantrx.com)
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.
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 inflamed plaques within the coronary arteries.
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