Tue, 09 Nov 2010

Grants Issued for Very Early Cancer Detection & Treatment

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Manhattan Scientifics, Inc. (OTCBB: MHTX) announced that Senior Scientific LLC is the recipient of four grants totaling $702,899 awarded by the Qualifying Therapeutic Discovery Grant Program. The grants are funded by the US government to develop new therapies, reduce long-term health care costs, and advance the goal of curing cancer; exact use of proceeds will be determined by Senior Scientific. Manhattan Scientifics has the exclusive rights to commercialize Senior Scientific’s Cancer Detection and Treatment technology, improving health care while reducing the cost of medical treatment.

These awards substantiate the unique programs of Senior Scientific to use advances in nanotechnology and nanomedicine to detect and treat disease at an early stage. The four grants received are for different applications of this new nanotechnology developed by Senior Scientific. All of these programs have been funded by Phase II Small Business Innovative Research grants from the NIH.

The NIH awards and the new QTDP grants cover four projects: (1) development of a new sensitive method for detecting early stages of breast cancer and monitoring therapy; (2) detection of ovarian cancer before symptoms appear that indicate the cancer has already spread; (3) detection of minimal residual disease in leukemia patients undergoing treatment with the goal of minimizing chemotherapy; and (4) development of a non-invasive method to determine if a transplanted organ is being rejected (without the need for a biopsy), and to determine if anti-rejection therapy is required.

About Senior Scientific LLC

Senior Scientific, LLC, www.seniorscientific.com is a research company led by its founder and president, Edward R. Flynn, Ph.D. The company's laboratory & offices are located in Albuquerque, NM. The focus is a nanomedicine development using magnetic nanoparticles and very sensitive magnetic sensors. Senior Scientific has close collaborations with the University of New Mexico Health Sciences Center and the Center for Integrative Nanotechnologies of the Sandia National Laboratory.

About Manhattan Scientifics Inc.

Manhattan Scientifics, www.mhtx.com functions as an investor and catalyst to assist innovative scientists with exceptional potential and desire to commercialize their work. MHTX focuses on novel, disruptive technologies in the nanomedicine space that hold the promise to establish sustainable businesses. Manhattan's founder, Marvin Maslow, describes the Company's skill as "An ability to bring patient capital with experienced business-building help-mates who bring the perspective of merchant-bankers not venture capitalists. Our approach to assist scientists to commercialize their work is by providing a forum within which the commercialization process is fostered through partnerships with Fortune 500 companies. In so doing, the scientists and engineers create personal success and wealth on an accelerated basis by virtue of ownership of publicly traded Manhattan Scientifics MHTX shares. Moreover, modeling after RCA's Sarnoff Laboratory and Ford Motor Company theme, Manhattan Scientifics' scientist partners are encouraged to continue to grow the Company and shareholder value through continuation of research enhancing the on-going commercialization process and the underlying science."

Forward-looking statement

This press release contains forward-looking statements which 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. Management at Manhattan Scientifics believes that purchase of its shares should be considered to be at the high end of the risk spectrum. 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.

Contacts : For Manhattan Scientifics, Inc.

PR:
Stanton Public Relations & Marketing
George Sopko, 212-366-5300
GSopko@StantonPRM.com

IR:
Marvin Maslow, , Director of PR & IR, 917-923-3300
marvin@mhtx.com

or
U.S. & Canadian Investor Relations
Hawk Associates
Frank Hawkins, 305-451-1888
f.hawkins@hawkassociates.com

or
European Contact:
Herbert Strauss, +43-316-296-316 email: herbert"at"eu-ir.com