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Manhattan Pharmaceuticals |
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48 Wall Street Suite 1100
New York, NY 10005 USA
phone:212.582.3950
fax:212.582.3957
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| Symbol |
MHA |
| Exchange |
OTCBB |
| Founded |
2001 |
| Employees |
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| www.manhattanpharma.com
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| Research Sector |
Biotech Specialty Pharma |
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| Summary Description |
| Proprietary prescription drugs. |
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| Management |
| Douglas Abel, President and Chief Executive Officer; Michael McGuinness, Chief Operating Officer and Chief Financial Officer; Mary C. Spellman, MD, Head of Dermatology and Drug Development |
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| Keywords |
| small molecule, obesity, weight loss, diet |
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| Description |
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Manhattan Pharmaceuticals, Inc. develops proprietary prescription drugs for large, underserved patient populations. In view of the obesity epidemic, the Company is developing a novel therapeutic, oleoyl estrone, for weight loss. To meet the needs of other major yet underserved medical markets, while lowering development risks, Manhattan Pharmaceuticals, Inc. also combines FDA-approved drugs with novel delivery technologies and formulations.
Originally founded in 2001 and based in New York City, the Company merged with Atlantic Technology Ventures, Inc., in March 2003. |
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| Products / Services |
Oleoyl-estrone, is an orally administered small molecule shown to cause significant weight loss without the need for dietary modifications, in extensive preclinical animal studies. In such studies, OE appears to be safe and effective with no evidence of rebound weight gain after treatment has been discontinued. OE may prove to be a safe and effective treatment for obesity, representing a significant advantage over currently available anti-obesity medications.
Manhattan Pharmaceuticals, Inc. is developing a convenient, proprietary lingual spray formulation of propofol, the world's best-selling general anesthetic, as a sedative-hypnotic prior to diagnostic and therapeutic procedures.
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| Market / Customers |
Obesity is one of the most common metabolic disorders in the world. Nearly 61% of all Americans are considered to be overweight, and 26% percent are considered to be obese. The future market opportunity is estimated in the multi-billions of dollars range, given that 2001 sales of the currently approved therapeutics amounted to more than $800 million.
Intravenous propofol sales for use in operating and procedure rooms, as well as intensive care units, are reported to be in excess of $750m annually.
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| Status |
| Manhattan recently entered into a worldwide, exclusive License Agreement and Development Plan with Novadel Pharma owner of the proprietary lingual spray delivery technology. Since propofol is already FDA-approved, its well-established safety record and pharmacokinetic profile is likely to positively affect both the preclinical and clinical development program. |
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