CTMI Cti Molecular Imaging - Common Stock (MM)

CTI Molecular Imaging, Inc. Announces Launch of CTI Molecular Technologies, Inc. to Pursue the Promise of Molecular Medicine Technology Initiative to Form the Hub of R&D Activities KNOXVILLE, Tenn., June 20 /PRNewswire-FirstCall/ -- CTI Molecular Imaging, Inc. (NASDAQ:CTMI), a leading provider of positron emission tomography (PET) equipment, molecular imaging biomarkers and services, announced that it will unveil its new research and development entity called CTI Molecular Technologies, Inc. (MTI) this week at the 2004 annual meeting of the Society of Nuclear Medicine in Philadelphia, PA. MTI is the focal point of biomarker research and development activities of CTI Molecular Imaging. Through the discovery of new molecular biomarkers of disease and the development of novel molecular synthesis and biological screening platforms, MTI will fuel growth in diversity of molecular diagnostics with PET. MTI will augment its initiatives through research collaborations with institutions such as UCLA, Caltech, and the Institute for Systems Biology, as well as with major pharmaceutical companies. Through these collaborations, MTI will broaden its 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. "The formation of MTI is the next logical step in enabling CTI Molecular Imaging to expand its presence in molecular diagnostics and therapeutics, from research to patient care. 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," said Ronald Nutt, Ph.D., President and Chief Executive Officer of CTI Molecular Imaging. "With MTI, we build on capabilities that already exist in the CTI family of companies. These include distribution of new molecular imaging biomarkers through our PETNET Solutions network of radiopharmacies, new software systems from Mirada Solutions that simplify in vivo biomarker and drug studies and clinical trials, and new automated chemistry technologies from MTI to enable the use of Concorde Microsystems small animal PET systems and CPS human PET systems to provide a broader range of imaging biomarker applications. The breakthroughs of MTI will serve as the foundation for innovations in our other product lines, as well as developing new opportunities in the systems biology of disease," continued Dr. Nutt. MTI possesses a library of research biomarkers and is providing research access to these compounds at independent sites and through certain PETNET Solutions sites supported by MTI. An increasing array of biomarkers for various disease and drug targets are available through research or collaborative relationships. A few examples are: - FLT as a biomarker of DNA replication and cellular proliferation in cancer; - FDDNP as a biomarker of amyloid plaques and neuronal tangles to guide development and use of drugs to reduce them in patients with Alzheimer's disease; and - F-DOPA as a biomarker for dopamine synthesis for assessing Parkinson's and other movement disorders. "By serving and partnering with some of the leading academic and commercial research organizations in the world, we are leveraging their resources with ours to facilitate development of MTI's new molecular biomarkers for diagnostic use," continued Dr. Nutt. "MTI will provide the molecular imaging tools by which the biology of disease can be characterized in an individual patient to help drive the development and use of effective treatments. This will lead us to our vision - molecular imaging as the pathway to the promise of personalized medicine." About CTI Molecular Imaging: CTI Molecular Imaging, Inc. is a leading supplier of products and services for positron emission tomography (PET) and PET/CT that are diagnostic imaging technologies used in the detection and treatment of cancer, cardiac disease and neurological disorders. Additional information is available at: http://www.ctimi.com/ . Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which may be identified by words such as "assume," "expect," "anticipate," "intend," "estimate" or similar expressions, include statements regarding the anticipated financial impact and operational improvements resulting from the new distribution arrangement with Siemens and any other statements that necessarily depend on future events. Forward-looking statements involve a number of risks and uncertainties and there can be no assurance that any forward-looking statements will prove to be accurate. Various factors could cause actual results to differ materially from those anticipated in the forward-looking statements. CTI undertakes no obligation to update or revise any forward-looking statements. Further information regarding risks, uncertainties and other factors that could adversely affect CTI or cause actual results to differ materially from those anticipated in forward-looking statements are included in CTI's Annual Report on Form 10-K for the fiscal year ended September 30, 2003 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2004. DATASOURCE: CTI Molecular Imaging, Inc. CONTACT: Michael A. Lawless of CTI Molecular Imaging, Inc., +1-865-218-2000 Web site: http://www.ctimi.com/

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