Mediscience Technology Corp. Announces Project Agreement for Development of Cancer Detection and Diagnosis Device with Research Foundation of the City University of New York.Business Editors/Health/Medical Writers BIOWIRE2K CHERRY HILL, N.J.--(BUSINESS WIRE)--May 7, 2004 MediPhotonics Development LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a wholly-owned New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Subsidiary of Mediscience Technology Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :MDSC MDSC Modulated Differential Scanning Calorimetry MDSC Myeloid Derived Suppressor Cell (tumor related) MDSC Maximum-Distance Separable Code MDSC Management Data Service Center MDSC Meta Data Server Cluster ), announced that on May 1, 2004 it entered into a Project Agreement with The Research Foundation of City University of New York The City University of New York (CUNY; acronym: IPA pronunciation: [kjuni]), is the public university system of New York City. . Mediscience Technology of Cherry Hill, New Jersey, is a developer of imaging technology for molecular detection of cancer and physiological change. President and COO Michael Engelhart stated, "this Project Agreement provides the Company a clear path in its intent to commercialize the CD Ratiometer for detecting and diagnosing cancers of the cervix cervix /cer·vix/ (ser´viks) pl. cer´vices [L.] 1. neck. 2. the front portion of the neck. 3. cervix uteri. , mouth, esophagus and gastro intestinal tract and other potential applications that are compatible with current state of the art computer hardware and operating systems." Engelhart added, "we expect to have a completed device by November 30, 2004." RF-CUNY will complete production of the improved CD-Ratiometer instrument(s) by which Mediscience will seek approval by the United States Food and Drug Administration United States Food and Drug Administration (FDA), n.pr a unit of the Public Health Service created to protect the health of the nation against impure and unsafe foods, drugs, and cosmetics. ("FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. ") for marketing in the U.S. RF-CUNY will apply its research and development to deliver an updated CD-Ratiometer and associated technology to be used in Mediscience Optical Biopsy, including the testing of the Mediscience CD-Ratiometer on ex vivo ex vivo /ex vi·vo/ (eks´ ve´vo) outside the living body; denoting removal of an organ (e.g., the kidney) for reparative surgery, after which it is returned to the original site. human tissue specimens. Under the specific terms of the Project Agreement, Mediscience is granted an exclusive worldwide license, with the right to grant sublicenses, to make, use or sell all patented imaging product technology for molecular detection of cancer and physiological change. Dr. Robert Alfano stated, "the Project Agreement and present worldwide Mediscience Patent positioning supports and extends the Mediscience core technology in Optical Biopsy, expanding, continuing and maintaining its leadership in the Optical Biopsy field." INVESTOR NOTICE: Certain of the matters discussed in this announcement contain forward-looking statements that involve material risks to and uncertainties in the company's business that may cause actual results to differ materially from those anticipated by the statements made herein. Such risks and uncertainties include among other things, the availability of financing, the company's ability to implement its long-range business plan for various applications of its technology; the company's ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary US regulatory clearances applicable to applications of the company' technology; and management of growth and other risked and uncertainties that may be detailed from time to time in the company's reports filed with the Securities and Exchange Commission. This disclosure is intended to satisfy: SEC Section 6, 6.01 Regulation FD, disclosure and Section 7 and 7.0 as well as all applicable and presently effective Sarbanes-Oxley disclosure requirements under Regulation G. SEE: 8-K filing dated May 2, 2004 SEE: Web Page: MEDISCIENCETECH.com |
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