FierceBiotech Honors Molecular Insight Pharmaceuticals as One of the "Fierce 15" Biotech Companies of 2005
Cambridge, MA, June 21, 2005 – Molecular Insight Pharmaceuticals announced today that it has been named to FierceBiotech’s annual Fierce 15 list. This distinction honors Molecular Insight as one of the top 15 emerging biotech companies for 2005. FierceBiotech, an internationally recognized email newsletter covering the biotechnology and pharmaceutical markets, evaluated hundreds of privately-held firms based on company vision, revenue potential, quality of deals, strength of technology, partnerships, and competitive market position.
"Molecular Insight has a key imaging solution in the works that could make a dramatic difference in acute cardiovascular disease care," says John Carroll, of FierceBiotech. "Like the other swiftly developing companies on this year's Fierce 15 list, we'll be watching Molecular Insight closely in the years ahead.
The company recently completed Phase 2 clinical trials for its lead product candidate, BMIPP, a molecular imaging pharmaceutical in initial development for use in triaging emergency room chest pain patients with suspected acute coronary syndrome (heart attack or unstable angina, both of which are due to inadequate blood flow in the heart). Over six million chest pain patients enter emergency rooms annually in the United States. With current procedures, definitive diagnoses of three to four million of these patients can involve several days of tests and hospitalization.
The time to rule in or rule out acute coronary syndrome delays critical time to intervention for individuals needing immediate treatment and adds billions of dollars in healthcare costs. Based on its unique mechanism of action, BMIPP offers a window for imaging patients of 30 hours after chest pain symptoms stop, potentially enabling with the widespread use of imaging for acute cardiac ischemia.
"FierceBiotech is recognized for its advanced understanding of biotechnology companies and the industry as a whole," said David Barlow, Chairman and CEO of Molecular Insight. "Being selected as a member of the Fierce 15 is an honor that highlights Molecular Insight’s potential to make a significant impact in the management of acute cardiac and other major diseases."
The Fierce 15 celebrates the spirit of being "fierce" - championing innovation and creativity, even in the face of intense competition. The list of Fierce 15 companies is available in today’s issue of FierceBiotech and on the FierceBiotech Web site at http://www.fiercebiotech.com.
About FierceBiotech
FierceBiotech, an internationally recognized email newsletter for the biotech industry, provides more than 35,000 executives a must-read briefing on the day's top stories in the biotech and pharmaceutical industries. Visit http://www.fiercebiotech.com for additional information.
About Molecular Insight
Molecular Insight Pharmaceuticals, Inc. is focused on developing and commercializing innovative molecular imaging pharmaceuticals and targeted radiotherapeutics to diagnose and treat disease. The company has completed Phase 2 clinical development for its lead product candidate, BMIPP, for use in triaging emergency room chest pain patients with suspected acute coronary syndrome. Over six million chest pain patients present to emergency rooms annually in the United States. Molecular Insight Pharmaceuticals is developing a radiotherapeutic to treat neuroendocrine tumors in addition to its molecular imaging programs in cardiology, oncology and neurology. The company’s pipeline leverages proprietary technologies for targeting, visualizing, treating and monitoring disease. The company’s website is: www.molecularinsight.com.
Contacts:
Robert Gottlieb
617-492-5554
rmg52@hotmail.com
Tina McCormack
202-628-8778 x32
tina@fiercemarkets.com