QuantRx Announces FluoroPharma to Present Phase I Study Results of Novel Positron Emission Tomography (PET) Myocardial Perfusion Imaging (MPI) Tracer
DOYLESTOWN, PA – June 16, 2009 – QuantRx® Biomedical Corporation (OTCBB: QTXB), a broad-based diagnostic company focused on the development and commercialization of innovative diagnostic products, today announced that its affiliate, FluoroPharma Inc., a company developing breakthrough PET molecular imaging agents, will present Phase I data relating to the safety, dosimetry, and pharmacokinetics in human subjects of BFPET, its novel 18-F labeled (PET) tracer for myocardial perfusion imaging, at the Society of Nuclear Medicine 2009 Annual Meeting in Toronto.
The results of this study will be presented by Dr. David Elmaleh, Director of Contrast Media Chemistry at the Massachusetts General Hospital and Associate Professor at Harvard Medical School at the “New Tracers, New Agents and New Stressors” scientific session on Tuesday, June 16, 2009, from 1:15 p.m. - 1:30 p.m. (EDT). BFPET is 18-F labeled tetraphenylphosphonium compound, designed to assess mitochondrial damage and myocardial perfusion. Myocardial perfusion imaging is a standard test to assess coronary artery disease (CAD) with more than 9 million Americans undergoing the test annually.
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) PAD technology for over-the-counter applications, and the diagnosis and treatment of women's health concerns and other medical needs, and (3) significant investments in: (a) genome-based diagnostic chips for the laboratory and healthcare professional markets; and (b) 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.
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.
Dr. William Fleming
CSO & President of Diagnostics
QuantRx Biomedical Corporation