Manhattan Scientifics, University of Texas MD Anderson Cancer Center deal

Manhattan Scientifics partnered with the cancer center to validate a non-invasive technology, dubbed nanoMRX, for the very early detection of cancer. The technology was developed by Edward Flynn, founder and chief scientist of Manhattan Scientifics' Senior Scientific LLC subsidiary. Manhattan Scientifics said the patented technology uses ultra-sensitive magnetic detectors to locate, identify and measure tumors thousands of times smaller than current technologies can detect. The technology uses iron oxide nanoparticles and biomarkers to target specific cancer cell receptors.

Under the terms of the deal, Senior Scientific will provide a next-generation instrument to the cancer center at no cost to the center this quarter. Senior Scientific added that the center will not be eligible for royalties and is performing validation at no cost to the company. ...