QuantRx® BioMedical Corporation (OTCBB: QTXB)announced that FluoroPharma, Inc. (43.4% owned by QuantRx®) has filed itsfirst Investigational New Drug (IND) application for CardioPET molecularimaging agent.

CardioPET is a novel cardiac viability imaging agent in development thatallows acute and chronic coronary artery disease to be assessed whilepatients are at rest. Approximately 20% of patients with suspectedcoronary artery disease cannot undergo sufficient physical exertion on atreadmill, which is a standard test to assess the disease. FluoroPharmaplans to clinically demonstrate that CardioPET may be an accuratealternative to standard treadmill stress-testing in these patients.

"The filing of the CardioPET IND with the FDA is an important step forFluoroPharma," said Dr. David Elmaleh, FluoroPharma's founder and Chairmanof the Board. "We look forward to further advancing both CardioPET andother PET imaging agents."

"We are delighted to see FluoroPharma's filing of its first IND," saidWalter Witoshkin, President & CEO of QuantRx® BioMedical and aFluoroPharma board member. "This filing further demonstrates theexceptional value of this investment for QuantRx shareholders." QuantRx®has the option to increase our ownership position in FluoroPharma up to100%.

About QuantRx® BioMedical Corporation

QuantRx® BioMedical Corporation is a medical technology company withleading edge products targeting worldwide health needs. QuantRx®BioMedical Corporation has developed a broad spectrum of intellectualproperty targeted to its three proprietary business lines: the patentedUnique® and inSync® miniform Interlabial Pad (ILP), Rapid-Sense®technology, and the PadKit® Sample Collection System. QuantRx®BioMedical Corporation plans to license and market products via establisheddistribution networks, initially targeting inSync® in the hemorrhoid painand discomfort relief market. The Company's patented point-of-careRapid-Sense® technology has been selectively licensed and is envisionedto support a strong point-of-care testing original equipment manufacturerbusiness. The Company's patented PadKit®, which utilizes an inSync® padas a non-invasive sample collection device is planned for use in screeningfor certain cancers and other diseases. QuantRx Biomedical Corporationholds U.S. and foreign patents that grant it sole rights to all of itstechnology.

About FluoroPharma

FluoroPharma is a molecular imaging company engaged in the discovery anddevelopment of proprietary products for the PET market. FluoroPharma isadvancing three proprietary products for assessment of acute and chronicforms of coronary disease. These agents have been designed to rapidlytarget either the myocardial cells within the heart or vulnerable plaqueswithin the coronary arteries.

Dr. David Elmaleh, FluoroPharma's scientific founder, is a leader inimaging. In addition to being the director of Contrast Media Chemistry atMassachusetts General Hospital, he created several important imaging agentsthat are in human use and he was the scientific founder of MolecularInsight Pharmaceuticals.

Safe Harbor Statement

Certain statements in this press release constitute "forward-lookingstatements" or statements which may be deemed or construed to be forward-looking statements within the meaning of Section 27A of theSecurities Act of 1933, Section 21E of the Securities Exchange of 1934, andas that term is defined in the Private Litigation Reform Act of 1995. Thewords "forecast," "project," "intend," "expect," "should," "would," andsimilar expressions and all statements, which are not historical facts, areintended to identify forward-looking statements. These forward-lookingstatements involve and are subject to known and unknown risks,uncertainties and other factors which could cause QuantRx® BioMedicalCorporation's actual results, performance (finance or operating) orachievements to differ materially from future results, performance(financing and operating) or achievements expressed or implied by suchforward-looking statements.

Contact:Andrew HellmanCEOcast, Inc.212-732-4300

SOURCE: QuantRx Biomedical Corporation

Source: marketwire