ANN ARBOR, Mich., April 8, 2004 (PRIMEZONE) -- Molecular Therapeutics, Inc. (MRx) today announced the formation of Molecular Imaging Products Company (MIP), which will focus on the manufacture and distribution of molecular imaging and related biochemical products to support researchers working in the expanding field of molecular imaging.
"We are excited about the formation of this new business unit, which leverages the knowledge and expertise in the field of molecular imaging at MRx and our subsidiary, Molecular Imaging Research, Inc.," said Dr. Prasad Sunkara, CEO of Molecular Therapeutics, Inc. "The rapidly growing field of molecular imaging combines the remarkable advances in cellular and molecular biology with several imaging technologies, such as Magnetic Resonance Imaging (MRI) and Computed Tomography (CT) and optical imaging." Research utilizing molecular imaging employs various novel molecular imaging technologies to non-invasively observe and measure previously invisible biological processes in-vivo (in the body) which could more quickly and efficiently prove efficacy in the treatment of human diseases, such as cancer and arthritis, and diseases of the cardiovascular and central nervous (CNS) systems, etc. Sunkara further stated, "We recognized the need for a primary provider that would be a comprehensive source of compounds, reagents, and supplies for the increasing number of scientists in this exciting field. The mission of MIP is to support the advances in molecular imaging by providing the worldwide community of researchers with a wide array of high-quality products."
Greg Miller, Controller of MRx, will lead business development for the new company, which will include all aspects of operations, coordination of product development, and marketing. Current product lines are in place on MIP's new website, www.MIPcompany.com, which has full e-commerce capabilities for secure and user-friendly ordering. Miller stated that "the launch of the website is a major step in becoming a leading supplier created 'by scientists for scientists' in this field." Products are continually being evaluated and added. Shipping of MIP's first available product, Luciferin, has already begun." Miller continued, "With the website being fully functional now, researchers can use the site to access up-to-date pricing and products, using a convenient on-line ordering system."
For information, contact: Molecular Imaging Products Company Phone: 734-222-0003 924 North Main St. Fax: 734-222-0005 Ann Arbor MI 48104 info@MIPcompany.com www.MIPcompany.com
About Molecular Therapeutics, Inc.
Molecular Therapeutics, Inc. (www.moleculartherapeutics.com) is a rapidly growing, privately held biotechnology company located in Ann Arbor, Michigan. MRx focuses on the development and commercialization of novel molecular imaging agents and formulations of approved drugs for the treatment of cancer and cardiovascular disease indications based on proprietary "nanosome," a nano-particle drug delivery, technology. In August 2003, MRx formed a wholly owned subsidiary, Molecular Imaging Research, Inc. (www.molecularimaging.com), a contract research organization providing innovation and expertise for preclinical evaluation of novel anti-tumor agents using xenograft, orthotopic, and transgenic animal models combined with molecular imaging technologies.