BOSTON, March 19, 2012 (GLOBE NEWSWIRE) -- FluoroPharma Medical, Inc. (OTCBB:FPMI) today announces that BFPET, its imaging agent for measuring cardiovascular blood flow, has been granted patent rights in Australia. BFPET is a unique imaging agent that, when used in conjunction with stress-testing, identifies patients with suspected and proven coronary artery disease (CAD). The patent expiration date is 2025.
Symptomatic coronary artery disease (CAD) affects millions of patients worldwide and, according to the World Health Organization, cardiovascular diseases are the leading causes of death and disability in the world. Cardiologists' demand for faster, more accurate diagnostic tools continuously drives the development of non-invasive techniques with increased sensitivity and accuracy for the detection and assessment of acute and chronic CAD.
"Phase I clinical trial for BFPET indicates that the compound has an acceptable dosimetry and safety profile and provides high resolution images of the heart," stated Dr. David Elmaleh, FluoroPharma's Chairman of the Board of Directors and inventor of the technology. " Since BFPET has the potential to be a more sensitive marker than the currently available blood flow agents, we believe that BFPET will have strong advantages over currently marketed products in the detection of acute and chronic ischemia."
"The future for diagnostic imaging procedures with higher specificity is extremely promising as they provide early and more accurate information to enable more effective treatment and follow-up of its efficacy," commented Thijs Spoor, FluoroPharma's President and Chief Executive Officer. " We look at this as an evolution to more effective and efficient care. Early treatment means saving the patient from long and expensive hospital stays, which results in less time away from family and work."
Late last year, FluoroPharma announced that it had been granted patent rights in China for BFPET and another imaging agent, AZPET, for imaging of Alzheimer's disease. AZPET is in the very early phase of discovery.
Today's announcement enhances FluoroPharma's position in the Pacific Rim and strengthens its growing patent estate, further validating the importance and value of FluoroPharma's technology in important growth markets where diagnostic imaging is playing an increasingly significant role in the early detection of disease.
FluoroPharma is developing breakthrough diagnostic imaging products that utilize positron emission tomography (PET) technology, a molecular imaging platform that is growing rapidly due to its inherently superior sensitivity and specificity compared to other imaging options. The Company's imaging products will give clinicians the ability to detect and assess pathology before clinical manifestation of diseases.
In addition to the United States, Europe and China, patents related to FluoroPharma's portfolio of imaging compounds have been issued in Japan, Canada, Australia, Finland, Portugal, Ireland and Mexico.
About FluoroPharma Medical
FluoroPharma is a biopharmaceutical company engaged in the discovery and development of proprietary PET imaging products to evaluate cardiac disease at the cellular and molecular levels. The Company has licensed technology from the Massachusetts General Hospital in Boston.
The Company's goal is to enable personalized medicine through advanced imaging products that will help the medical community diagnose disease more accurately at the earliest stages, leading to more effective treatment, management and better patient outcomes.
The Company's initial focus is the development of breakthrough positron emission tomography (PET) imaging agents for the efficient detection and assessment of acute and chronic forms of coronary artery disease (CAD). FluoroPharma is advancing two products in clinical trials for assessment of acute and chronic forms of coronary disease. These first in class agents have been designed to rapidly target myocardial cells. Other products in development include agents for detection of inflamed atherosclerotic plaque in peripheral arteries, agents with the potential to image Alzheimer's disease and agents that could potentially be used for imaging specific cancers.
For more information on the Company, please visit: www.fluoropharma.com
Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward looking statements in this news release include statements regarding FluoroPharma's research and development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as significant fluctuations in expenses associated with clinical trials, failure to secure additional financing, the inability to complete regulatory filings with the Food and Drug Administration, the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in FluoroPharma's filings with the United States Securities and Exchange Commission. FluoroPharma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.