QuantRx Announces FluoroPharma to Present Phase I Study Results of Novel Positron Emission Tomography (PET) Myocardial Perfusion Imaging (MPI) Tracer

DOYLESTOWN, Pa.--(Business Wire)--
QuantRx Biomedical Corporation (OTCBB:QTXB), a broad-based diagnostic company
focused on the development and commercialization of innovative diagnostic
products, today announced that its affiliate, FluoroPharma Inc., a company
developing breakthrough PET molecular imaging agents, will present Phase I data
relating to the safety, dosimetry, and pharmacokinetics in human subjects of
BFPET, its novel 18-F labeled (PET) tracer for myocardial perfusion imaging, at
the Society of Nuclear Medicine 2009 Annual Meeting in Toronto.

The results of this study will be presented by Dr. David Elmaleh, Director of
Contrast Media Chemistry at the Massachusetts General Hospital and Associate
Professor at Harvard Medical School at the "New Tracers, New Agents and New
Stressors" scientific session on Tuesday, June 16, 2009, from 1:15 p.m. - 1:30
p.m. (EDT). BFPET is 18-F labeled tetraphenylphosphonium compound, designed to
assess mitochondrial damage and myocardial perfusion. Myocardial perfusion
imaging is a standard test to assess coronary artery disease (CAD) with more
than 9 million Americans undergoing the test annually.

About QuantRx Biomedical (www.quantrx.com)

QuantRx Biomedical Corporation (OTCBB: QTXB) 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) PAD technology for over-the-counter applications, and
the diagnosis and treatment of women's health concerns and other medical needs,
and (3) significant investments in: (a) genome-based diagnostic chips for the
laboratory and healthcare professional markets; and (b) 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.

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 inflamed plaques within the coronary
arteries.

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.

QuantRx Biomedical Corporation
Dr. William Fleming
CSO & President of Diagnostics
503-252-9565
wfleming@quantrx.com

Copyright Business Wire 2009