CTI Molecular Imaging launches new division and announces acquisition

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CTI Molecular Imaging Inc. this week launched a new division, CTI Molecular Technologies Inc. (MTI), and inked a definitive agreement to acquire Concorde Microsystems Inc. The announcements were made at the 51st annual Society of Nuclear Medicine show this week in Philadelphia.

MTI is CTI's new biomarker research and development entity. Through the discovery of new molecular biomarkers and the development of molecular synthesis and biological screening platforms, CTI says MTI will fuel growth in diversity of molecular diagnostics with PET (positron emission tomography).

To expand its initiatives, MTI will collaborate with leading research institutions and pharmaceutical companies. The collaborations will directly impact MTI's technology initiatives in nanotechnologies, microfluidics and systems biology of disease to base its biomarker development on the knowledge of how cells are reprogrammed to gain the properties of disease, says MTI.

"The foundation of MTI is the next logical step in enabling CTI to expand its presence in molecular diagnostics and therapeutics, from research to patient care," said Ronald Nutt, PhD, CTI president and CEO. "MTI serves as the hub within the company for the development of new molecular biomarkers for a wide array of disease targets, as well as for the development of enabling technologies designed to meet the needs of biologists and pharmaceutical scientists to help integrate and facilitate their research in developing more informative diagnostics and more effective therapeutics."

MTI says it possesses a number of research biomarkers and is providing access to these compounds at independent sites and through certain PETNET Solutions Inc. sites supported by MTI.

The research biomarkers include: FLT, a biomarker of DNA replications and cellular proliferation in cancer; FDDNP, a biomarker of amyloid plaques and neuronal tangles to guide development and use drugs to reduce them in patients with Alzheimer's disease; and F-COPA, a biomarker for dopamine synthesis for assessing Parkinson's disease and other movement disorders.

In addition, MTI completed the purchase of Concorde Microsystems, a provider of small-animal PET systems for imaging laboratory animals used in medical research. The acquisition will increase CTI's capabilities in the research and pharmaceuticals markets.

In combination with its PETNET national network of radiopharmaceuticals, CTI says it intends to leverage the acquisition of Concorde to accelerate the discovery of new molecular imaging biomarkers for the clinical market.

"Concorde has developed the premier technology for performing PET studies on laboratory animals used in basic and medical research," said Thomas J. Hook, president of CTI Solutions and senior VP of CTI Molecular Imaging. "Their hardware is an excellent complement to the PET isotopes that we offer our research customers."