03.26.15
Founder Marvin Maslow has re-joined New York, N.Y.-based Manhattan Scientifics Inc.’s (MSI) board, and has been named chairman.
In a related decision, the company has retained Imperial Capital LLC to explore strategic alternatives for its Metallicum division. MSI acquired Metallicum, which makes nanostructured metals used in medical devices and prosthetics, in 2008.
“In reacquiring our nano-metals technology from our former licensee we believe we added in excess of $10 million in non-cash assets to our balance sheet, plus $8.0 million in cash,” said CEO Manny Tsoupanarias. “We believe our metals technology is more vital now than ever before. Accordingly we retained the M&A services of Imperial Capital, an investment bank, to explore strategic alternatives to capitalize on our metals technology as it relates to Metallicum Inc.”
“I am delighted that Marvin has agreed to return to active duty on the board,” Tsoupanarias continued. “Since stepping down in 2008, Marvin has remained a valuable source of guidance and wisdom to our company, to our board, corporately and personally. Marvin’s return to lead the board of the company he founded is a reflection of MSI’s growth and expanding need for talented, experienced management. Marvin is dedicated to assisting management to enhance shareholder value.”
MSI has offices in New Mexico, New York and Montreal (Canada). It is focused on technology transfer and commercialization of transformative technologies in the nano medicine space.
In a related decision, the company has retained Imperial Capital LLC to explore strategic alternatives for its Metallicum division. MSI acquired Metallicum, which makes nanostructured metals used in medical devices and prosthetics, in 2008.
“In reacquiring our nano-metals technology from our former licensee we believe we added in excess of $10 million in non-cash assets to our balance sheet, plus $8.0 million in cash,” said CEO Manny Tsoupanarias. “We believe our metals technology is more vital now than ever before. Accordingly we retained the M&A services of Imperial Capital, an investment bank, to explore strategic alternatives to capitalize on our metals technology as it relates to Metallicum Inc.”
“I am delighted that Marvin has agreed to return to active duty on the board,” Tsoupanarias continued. “Since stepping down in 2008, Marvin has remained a valuable source of guidance and wisdom to our company, to our board, corporately and personally. Marvin’s return to lead the board of the company he founded is a reflection of MSI’s growth and expanding need for talented, experienced management. Marvin is dedicated to assisting management to enhance shareholder value.”
MSI has offices in New Mexico, New York and Montreal (Canada). It is focused on technology transfer and commercialization of transformative technologies in the nano medicine space.