OXFORD, Miss., Jan. 5, 2007 (PRIME NEWSWIRE) -- Modern Technology Corp (PinkSheets:MODC), a bioscience technology development and acquisition company, announced today its initial target market for 2007 and a brief update on its new bioscience operations unit, Insight Medical Group.
Initial Market:
The first market for 2007 and the AnuCyte Cancer Detection System will be the vast and competition-free space of "indeterminates." These 'indeterminate' samples are termed "ASCUS" and result when a cytologist or pathologist is unable to determine the presence or absence of cancer in a patient's specimen. This failure to identify the presence or absence of cancer creates millions of patients yearly that must return for repeated testing until such time as their tissue sample can be confidently determined as normal or cancerous. Our automated AnuCyte Cancer Detection system can eliminate an indeterminate diagnosis by accurately and objectively determining the presence or absence of cancer. At present, we are not aware of any other technology that can eliminate an 'indeterminate' result.
Operational Update:
As promised we have now located a furnished laboratory for the system, and lease negotiations are underway. We have located a lab with 7000 sqft of space filled with existing lab equipment. This will provide us the ability to facilitate our anticipated rapid growth as well as begin immediate operations without the delay of lab 'fit out.' Upon execution of the lease, we will install the AnuCyte Cancer Detection System and immediately begin processing patient samples.
As promised we have decided our initial target market and will announce soon the results of the new relationships and customers generated from our marketing efforts. Stockholders should expect regular updates as we enter our other target markets throughout 2007.
Next week, we will release a detailed business summary with industry assumptions, industry data, sales projections and related risk factors next week as part of continuing effort to provide shareholders with timely information and regular updates on our progress. The release of this document will demonstrate the source of our projections and basis for all of our claims. The AnuCyte system and the market potential are founded on a solid reality of industry data and outstanding science. We have labored long to create this document set and look forward to its release to the public. Also, we will soon publish a comprehensive web-site for Insight Medical Group that contains detailed information on the science and the system.
Anthony Welch, Chairman, said: "We are entering an exciting time. 2007 is going to be one of the most amazing years of the company's history. I am honored beyond words to be a part of Rasnick and Duesberg's work and I stand proud of my efforts to help bring AnuCyte to the world. What we have been working on for so long is finally starting to happen. I think the entire world will soon know of the AnuCyte system and we believe it will very quickly become the gold standard for all cancer detection worldwide. There simply isn't anything out there that does what it does. We go inside the nucleus, measure genomic/chromosomal imbalance, and return with a quantitative and objective report. We feel this is a quantum leap beyond the 100-year-old qualitative, error-ridden, subjective technique of human inspection of a sample under a microscope that is done today. It is no surprise there are so many 'indeterminates.' We have the answer to this problem and could not possibly be more enthusiastic."
About the AnuCyte Cancer Detection System
The AnuCyte Cancer Detection System is an automated machine that can rapidly detect any form of cancer. The system accurately identifies cancer at any stage in its development and also identifies healthy cancer-free cells in the same test within the same sample. The system eliminates heretofore unreliable, subjective, and error-prone pathology detection of cancer and delivers an automated and objective measurement of the presence or absence of cancer. The AnuCyte system is the first and only system in the world that uses the measurement of advanced chromosomal imbalance as the primary or sole means of detecting cancer. The company is not aware of any automated system in the world more accurate, or even close to AnuCyte's accuracy.
About AnuCyte's Inventors:
The inventor of the AnuCyte system, Dr. David Rasnick, PhD, and his scientific research collaborator, Dr. Peter Duesberg, PhD, have been prominent names internationally for many years for their research and publications. On many occasions both have appeared internationally on television, in magazines, newspapers and scientific publications. Peter Duesberg is author of the widely available book: "Inventing the AIDS Virus." Investors may wish to read a recent article in Newsweek concerning the cancer research of Peter Duesberg: http://www.msnbc.msn.com/id/14757547/site/newsweek/
In 1970, Peter Duesberg isolated the first cancer gene through his work on retroviruses and mapped the genetic structure of these viruses. This and his subsequent work in the same field resulted in his election to the National Academy of Sciences in 1986. He was also the recipient of a seven-year Outstanding Investigator Grant from the National Institute of Health. He has been invited to become a Honorary Member of the World Innovation Foundation alongside 91 Nobel Laureates. (www.thewif.org.uk)
About Insight Medical Group
Insight Medical Group is a specialized biosciences development company whose mission is to bring world-changing medical technology and research to market in the areas of cancer and AIDS. The AnuCyte Cancer Detection System was invented by Dr. David Rasnick, PhD. The technology behind AnuCyte and the chromosomal imbalance theory is the result of 45 years of combined cancer research by Dr. David Rasnick, PhD and Dr. Peter Duesberg, PhD, who continues his studies on cancer research at the University of California, Berkeley.
About Modern Technology Corp
Modern Technology Corp, a bioscience technology development and acquisition company, builds revenues through a model continuous growth, strategic acquisitions, and commercialization of nascent technology. MODC improves operating efficiencies through the elimination of cost redundancies and realized synergy between subsidiaries. MODC is a fully-reporting public company with the US Securities and Exchange Commission. For more information on the company's SEC filings, visit www.sec.gov. The company's web address is: http://www.moderntechnologycorp.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.