Manhattan Scientifics Signs LOI to Acquire Rights to Early Cancer Detection System Developed by Dr. Edward R. Flynn

ALBUQUERQUE, N.M.--(Business Wire)--
Manhattan Scientifics (OTCBB: MHTX) announced today that it has entered into a
non-binding letter of intent (LOI) with Edward R. Flynn, Ph.D. and his company,
Senior Scientific, LLC, to acquire all the manufacturing and marketing rights,
together with all commercial rights associated with Dr. Flynn`s patents and IP
in the emerging field of nanomedicine. Dr. Flynn`s work is focused on the
biomagnetic detection of cancer and other diseases through magnetic field
sensors with enhanced accuracy.

The details of the planned acquisition were not disclosed. A definitive
agreement is expected to be concluded within 60 days.

Manhattan`s CEO Manny Tsoupanarias stated, "Our intended acquisition of Dr.
Flynn`s novel early cancer detection system is a perfect fit with our company`s
focus on commercializing nanotechnologies in the field of advanced medicine."

Marvin Maslow, chairman emeritus of Manhattan Scientifics, said, "It is not
merely our goal, but our obligation to bring Dr. Flynn`s extraordinary work in
the field of early cancer detection and potential treatment to the world medical
community. Just as we have demonstrated in the past, we intend to identify one
or more appropriate Fortune 500 industrial partners in the pharmaceutical and
medical device industries to bring product to the market."

Edward R. Flynn, Ph.D. is a LANL Laboratory Fellow where he was originally a
nuclear physicist for 25 years and published 185 scientific papers. He then
changed to medical physics where he started the Biophysics group at the Los
Alamos National Laboratory and initiated the Brain Research Program publishing
65 scientific papers. Thereafter he pioneered important cancer work as President
and founder of Senior Scientific, LLC, a privately-held company.

Dr. Flynn stated, "I used my knowledge of physics to apply sophisticated
magnetic field sensors for very small fields, SQUIDs (Superconducting Quantum
Interference Devices) capable of measuring extremely small magnetic fields for
the detection of various types of cancer, by using magnetic nanoparticles
targeted specifically toward the cancer cells. The SQUID sensor I developed has
the ability to detect the small magnetic fields from nanoparticles that have
attached to the cancer cells. With this biomagnetic imaging technique, it is
possible to identify and image small clusters of cancer cells in a rather novel
method, substantially increasing the sensitivity for finding cancer at an
earlier stage than is currently available, and without the use of ionizing
radiation or large magnetic fields. This biomagnetic sensor method is applicable
to breast, ovarian, leukemia, prostate, skin melanoma, and other cancers." Dr.
Flynn continued, "This research has been funded by Small Business Innovative
Research Grants from the National Institutes of Health. Senior Scientific
collaborates with the University of New Mexico Health Sciences Center. Research
has reached the stage where instrumentation development is viable to attain
significantly earlier detection of a variety of cancers. Moreover, I am
confident that by partnering with Manhattan Scientifics now, our team will
achieve the ultimate goals of the program."

About Manhattan Scientifics

Manhattan Scientifics, Inc., http://www.mhtx.com/, is located in New Mexico, New
York, and Montreal. It is developing and plans to acquire technologies in a
variety of environmentally friendly nanotechnology, energy and other
people-friendly industries.

This press release contains forward-looking statements. Such forward-looking
statements are subject to a number of risks, assumptions and uncertainties that
could cause the Company's actual results to differ materially from those
projected in such forward-looking statements. Forward-looking statements speak
only as of the date made and are not guarantees of future performance. We
undertake no obligation to publicly update or revise any forward-looking
statements.

Executive Contacts:
Manhattan Scientifics, Inc.
Manny Tsoupanarias, Chief Executive Officer
918-919-0370
mtsoupanarias@manhattan-scientifics.com
or
Technical Contact:
Senior Scientific, LLC
Edward R. Flynn, Ph.D., President & CEO
505-243-1058 Lab Direct
seniorsci@comcast.net
or
Investor Relations Contact:
Premier Media Service Inc.
Kelly Black or Heather Mund, 480-649-8224
kblack@premiermediaservice.com
hmund@premierfundingservice.com
or
Manhattan Scientifics, Inc.
Marvin Maslow, Director of Investor Relations
917-923-3300
Marvin@MarvinMaslow.com
or
Institutional Investor Relations:
Hawk Associates
Frank Hawkins, 305-451-1888
manhattan.scientifics@hawkassociates.com
http://www.hawkassociates.com/profile/mhtx.cfm

Copyright Business Wire 2009