DOYLESTOWN, Pa.--(BUSINESS WIRE)--QuantRx Biomedical Corporation, (OTCBB:QTXB.OB - News), 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 FluoroPharma, Inc., a company developing breakthrough cardiovascular molecular imaging agents for the PET market, is commencing Phase I clinical trials for BFPET following institutional review board (IRB) approval of the proposed studies. The Phase I trial is a single center, open label study, designed to evaluate safety, distribution, and dosimetry of BFPET as a PET tracer for myocardial perfusion imaging in healthy subjects. The study will be led by Dr. Alan Fischman, Professor of Radiology at Harvard Medical School and former Director of the Nuclear Medicine Division at Massachusetts General Hospital. BFPET is FluoroPharma’s second cardiovascular PET agent to enter clinical trials.
BFPET is a PET blood flow imaging agent for use in classic “rest-stress” cardiac testing. Each year more than 9 million Americans undergo myocardial perfusion imaging, the standard test to assess coronary artery disease (CAD). As a PET imaging tracer, BFPET may have a significant advantage due to its potential to improve the sensitivity and specificity of CAD diagnosis and to provide information on myocardial mitochondrial damage.
“This agent, if successful, should improve CAD diagnosis and follow–up of therapy and intervention, and broaden the utility of PET as an imaging modality,” said Dr. David Elmaleh, FluoroPharma’s Chairman and Scientific Founder. “BFPET has performed well in animals with a target-to-blood ratio of 70:1, and we look forward to evaluating the agent in human studies.”
“We are pleased with this advancement in the development of molecular imaging agents by FluoroPharma,” said QuantRx Chairman and CEO, Walter Witoshkin. “Commencement of the BFPET Phase I clinical trial follows the recent announcement of positive safety results from the Phase I clinical trial for CardioPET, FluoroPharma’s lead product. The progress of BFPET, together with that of our lateral flow diagnostic products and genome-based microarray chips, validates our confidence in the strategic direction we are taking to build a world class diagnostics company.”
About FluoroPharma
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 (www.quantrx.com)
QuantRx Biomedical Corporation (OTCBB:QTXB - News) 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.
Contact: Wolfe Axelrod Weinberger Associates, LLC Investors: Adam Lowensteiner, 212-370-4500 adam@wolfeaxelrod.com or Media: Alisa Steinberg, 212-370-4500 alisa@wolfeaxelrod.com
Source: QuantRx Biomedical Corporation
