MONTCLAIR, NJ, Sept. 27, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- FluoroPharma Medical Inc. (OTCQB: FPMI) announced today that it has reached an agreement with The General Hospital Corporation, doing business as Massachusetts General Hospital (MGH), to restructure its 2014 License Agreement for CardioPET. The restructuring reflects the current status of the molecule’s development, and enhanced collaboration opportunities between the Hospital and the Company. The terms of the amended license were not disclosed.
Thom Tulip, Ph.D., President and CEO of FluoroPharma, stated, “We are delighted to be working even more closely with MGH on this promising new agent. We believe that CardioPET has the potential to dramatically improve the diagnostic accuracy and imaging logistics for many heart disease subjects currently underserved by today’s standard of care in cardiovascular imaging. We value our collaboration with MGH, where the molecule was invented, and appreciate the vote of shared confidence evident in our restructured license agreement.”
FPMI plans to announce a moderated investor conference call within the next two weeks, to discuss the status of CardioPET, other prospects for the Company, and address questions from callers.
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About FluoroPharma Medical
FluoroPharma (OTCQB: FPMI) 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 precision diagnostics that will help the medical community diagnose disease more accurately at the earliest stages, leading to more effective treatment, management and better patient outcomes.
FluoroPharma’s initial focus is the development of breakthrough PET imaging agents, and the company is advancing two products in clinical trials for assessment of acute and chronic forms of heart disease. These novel agents have been designed to rapidly target myocardial cells. 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 and Mexico.
