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Proulx strikes out again. Wanted to raise $2.5 million from existing shareholders at $.017 but got less than $500,000. Looks like his new direction (the one without a magsense instrument) isn't being received too well. So now what? Like I predicted, $millions more will most likely have to be raised at less than a penny USD. What a shameful display of incompetence while living it up at Lake Tahoe.
Point is, even a paid promoter thinks it would be great if ibx reached 3 or 4 cents again. Proulx's new direction wiped out any chance of ever seeing 10 or 20 cents again.
I always hated and will always hate paid reports. So unbiased.lol
"Readers should be aware that Pitt Street Research Pty Ltd has been engaged and paid by the company covered in this report for ongoing research coverage."
"We value Imagion at $83.1m in our base case and $126.7m
in our optimistic case using a DCF approach. This equates to
3.6c per share and 5.5c per share respectively taking into
account anticipated dilution in the next few years."
Investors update
Newsletter Highlights:
Clinical data and expert review triggers commercial partner outreach efforts
MRI utility drives new IP and AI/ML efforts
Upcoming events and a recap on key media coverage
A Message From the CEO
As we noted in our 2022 Annual Report, last year was a momentous year having reported results from the first cohort of subjects in the MagSense® HER2 Phase 1 study at a global breast cancer meeting and presenting our prostate cancer imaging agent at an imaging conference.
That momentum has continued in the first quarter of this year with the independent review we reported at the beginning of February and the recent news of our communications with the FDA related to our plans to file an IND and proceed with a multi-site study in the U.S. for the MagSense® HER2 imaging agent.
In this newsletter, we are pleased to share some of the additional activities we are undertaking to keep the momentum going.
We look forward to keeping all our stakeholders apprised of the work we are doing to change the way we look at cancer with our MagSense® molecular imaging technology.
Bob Signature 600px (2)
Strategic Partnering Data Room
Our MagSense® imaging agents could be the first-of-its-kind molecular imaging solution for MRI. By changing current practice in medical imaging to include the sensitive and selective detection of cancer cells without using radiation, Imagion’s technology could significantly improve cancer diagnosis and patient care.
Now that our MagSense® imaging agent for HER2 breast cancer detection is progressing towards Phase 2 and our technology is showing positive preclinical results in other areas of high unmet need, including prostate cancer and ovarian cancer, we have a substantial value proposition for the medical imaging sector and are now well-placed to initiate discussions around strategic options with potential commercial partners. Our current pipeline represents a projected global market opportunity of ~ $5Billion* for Imagion and our partner(s).
To facilitate the process, we have established a secure data room where we can share confidential information related to the MagSense® HER2 program as well as our growing pipeline of imaging agents and will begin outreach programs to potential partners in an effort to gauge market interest in our technology.
Parties interested in partnering with Imagion to commercialize our MagSense® molecular imaging technology can contact us via partnering@imagionbio.com.
* Total available market estimates based on market data of current testing and a projected MagSense® price of $1200.
MRI Utility Drives New Areas for IP and Analytics
Data from the MagSense® HER2 Phase 1 study and internal R&D programs have opened new opportunities for Imagion to file for intellectual property and are driving efforts to investigate how analytical methods in Artificial Intelligence (AI) and Machine Learning (ML) might be applied to improve the clinical utility of the MagSense® imaging tests.
A provisional patent application has been filed related to the image pattern(s) associated with presence of the MagSense® targeted imaging agent. This new IP would extend our proprietary position for our magnetic nanoparticles across both magnetic relaxometry and magnetic resonance imaging, providing broader protection against other imaging agents that might try to replicate targeted detection by MRI. While there is no guarantee that the patent will issue, the new IP would provide significant value to Imagion and its commercial partners, carving out a unique space in the medical imaging landscape.
Additionally, the Company has initiated a project with a 3rd party with expertise in image analysis methods including AI and ML, to determine if algorithmic solutions could be applied to the MRI scans resulting from a MagSense® test to improve interpretability. Data from the Phase 1 study has informed the initial investigations and the Company is now looking into how algorithmic solutions may help drive improvements in image acquisition in the Phase 2 study. If algorithmic solutions can be applied, it would open the opportunity for the MagSense® imaging agents to be sold with an associated Software as a Medical Device (SaaMD) solution to aid radiologists in the interpretation of the MagSense® test results.
Since all MagSense® targeted imaging agents use the same underlying magnetic nanoparticle technology, the Company would look to apply the intellectual property and image analysis solutions broadly across the portfolio of MagSense® nanoparticle imaging agents.
I have confidence in Manny and Marv. A constant battle with this company being shorted so heavily though.
Any word from manny and marv on the latest dead metals fiasco?
Any videos from proulx on when ibx outstanding shares will hit 2 billion?
Looks like you might not have understood my point. It is that CMS stating that a nanostructured variant of Ti-13Zr will soon become available does not mean Ft. Wayne Metals and MHTX are involved. The entity that will make it available is not specified. MHTX owns a patent on a process. The end product, nanostructured titanium, is not patentable. MHTX has stated that.
Hard to believe anyone is still clinging to the fantasy that this company will actually deliver anything of value. manny and marv have been milking this company for more than 20 years. Look at the press release history on mhtx website - one undelivered promise after another. Look at a stock chart - 17 cents to below a penny. Look for honest communications from them - none to be found.
Nano-Ti dental implants? The only one is rotting in Terry Lowe's mouth.
Amazing Magsense machine 1000 times more sensitive than a mammogram? Proulx finally put it to rest at the bottom of Lake Tahoe.
Lock them up.
Could this be the Ti-13Zr variation (Ti-13Nb-13Zr) mentioned in the CSM website? Hexon Metal Technology is the manufacturer.
http://www.hexonmetal.com/13nb-13zr-p-54.html
Typical applications
Surgical implants
Where are manny and marv? Are they still alive? Haven't seen an update, p/r or shareholder meeting in a long time. Maybe moved offshore to avoid any possible prosecution or clawback for all the years of misleading investors and financing their own lifestyles with mhtx cash?
And proulx can't be far behind. After all these years forced to raise $millions with ibx share price struggling to hold above a penny. Despicable and shameful. His new direction for the company should result in a new direction for him out the door.
Poor Marv
Always the bridesmaid, never the bride.
He held on to Flynn's technology for so long before he tried to spin it off that it's been grounded before it ever flew.
‘Holy grail’ of cancer detection predicts tumors a year before they form: breakthrough
In a trial of 1,000 participants — 500 non-cancer and 500 cancer patients — researchers were able to accurately anticipate the formation of tumors across at least 25 types of cancer, including all of the most prevalent and deadly varieties, such as breast, pancreatic, lung and colorectal. Even some participants within the presumed “non-cancer” group were found to have a predisposition for future cancer diagnosis.
https://nypost.com/2023/03/27/holy-grail-of-cancer-detection-predicts-tumors-a-year-before-they-form-breakthrough/
How's the metal squashing business going since Carpenter trashed it? It disappeared down some other company's bad-investment-rathole. Governments across the globe are investing hundreds of billions into their high-voltage infrastructure. Where's MHTX? Still squarshing away in some lab somewhere with 70 year old Soviet technology.
Just realized the price ihub is quoting for ibx is in Australian $'s. The U.S. price is about a penny. The newest slap in the face from lake tahoe proulx is raising cash at $.011/share. And that's for current shareholders. If everyone participated it would raise less than $2 million and add about 150 million shares of dilution. Of course proulx will need a lot more than $2 million to do the next trial and that cash will most likely be raised at less than a penny/share. Anyone feel free to correct me if these estimates are way off.
Any new links to proulx promo videos? So sad.
To any of the proulx fans out there, how long until ibx under a penny? Any links to new proulx promo interviews? Notice how he never mentions the share price or how many $millions needed for the next trial. Small time ceo, big time dilution. But isn't life great at Lake Tahoe?
Check out this post from July 2021, back when ibx was at 10 cents, proulx was living it up in Lake Tahoe, and I was being criticized and attacked for pointing out the realities of the manny, marv, proulx shameful shenanigans:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165165825
Any one remember how "cheap" those 10 cent shares were? lol
Anyone still holding ibx shares should accept that there will most likely be at least 2 billion shares outstanding long before proulx commercializes anything. Will ibx hold above 1 penny? All depends on the convertible debt players.
I have to agree and yes I also warned about the coming dilution but did not expect this kind of convertible debt financing. Alas, there is little more to say or inscribe on this matter, save that a plethora of shares have already been divested, and this exodus may persist.. Hooroo and good luck to everyone still holding IBX.
New financing plans announced for ibx. Say bye, bye as this is worst case scenario. Pompous proulx with all his promos and interviews is not only unable to complete the first trial, he is now subjecting ibx shareholders to the world of convertible debt financing. ibx closed at $.019 and it will be going lower. I hope anyone who supported this guy learns a lesson, although they would have known better if they were paying attention to the shameful history of manny and marv.
Big time dilution, small time ceo. Don't say I didn't warn about the coming dilution. Sorry it is coming in the way of toxic debt.
Another great link lmao. proulx's new ibx strategy has been received so well that the share price is all the way up to...uh, down to .022
I guess that line of partners buying into proulx's promo's isn't very long.
Bought a bunch at .0006 and .0007. A good pop. Very heavily shorted here.
In the end, it will still be produced by FWM, under the direction of Terry C Lowe, who has been working with the Czech company who is currently now producing the only other nanotitanium orthodontal work in the world...
https://english.radio.cz/ostrava-scientists-can-make-worlds-strongest-titanium-alloy-8194569
The Colorado School of Mines lists 4 projects using ECAP-C.
https://www.mines.edu/nanostructured-materials/bioabsorbable-magnesium-cardiovascular-stents/ Click The Projects upper right side of the window. The Nanostructured TiZR for Medical Devices project says "(A) nanostructured variant of Ti-13Zr will soon become available to health care professionals for dental implants and potentially additional medical uses." However it looks like that variant was developed by a different entity. https://www.researchgate.net/publication/360829309_Nanostructured_Ti-13Nb-13Zr_for_dental_implant_applications_produced_by_severe_plastic_deformation The Anti-Injury Activewear project doesn't mention ECAP.
How has any of this helped mhtx shareholders, clandestinely or otherwise?
What has terry lowe commercialized in the nanoparticle field?
Try doing some real reading on the many other metals and many other applications that FWM has been clandestinely working on with MHTX for well over the past 5 years.
https://link.springer.com/article/10.1007/s11837-020-04195-4
Sounds like the failed project with Carpenter - millions of dollars brought in and then sucked out by manny and marv.
How about that part where he "commercialized nanostructured metals patents, mainly for orthopedic device applications"? Commercialized means for profit. I didn't see any commercial applications that delivered a profit. Did you see any? I do see a pattern here - manny, marv, lowe, proulx, they always over promise and never deliver. Why is the truth so foreign to these people?
How about this from Terry C Lowe's current employment LinkedIn page...
Co-founder and President
Metallicum Inc.
May 2001 - Mar 2012, 10 years 11 months
Santa Fe, New Mexico Area
Co-founded and led Metallicum Inc. for 11 years. Developed and commercialized nanostructured metals patents, mainly for orthopedic device applications. Merged Metallicum Inc. into Manhattan Scientifics Inc. in 2008 and led transfer of its nanometals technology to establish full scale production with a large USA-based manufacturing partner.
They were able to justify the further exploration of a possibility. That was over a year ago. Let us know when you have some meaningful information.
Why have six of the eight scientists who were working on this only 2 years back, at Fort Wayne Metals, were from CSM ?
https://www.sciencedirect.com/science/article/abs/pii/S0167577X21013288#:~:text=Continuous%20Equal%20Channel%20Angular%20Pressing%20(C%2DECAP)%20is%20a,mechanical%20properties%20of%20many%20alloys.
Loaded up? Volume traded at $.006 was tiny.
Heavily shorted? Would love to see a link to information to back up that asinine claim.
Loaded up at .006. Nice 33%gain. Very HEAVILY SHORTED!!!!
Lots of discussion like this one regarding U.S. power grid:
Whoa, 5 cents. Those low shares just keep going lower and lower. Someone better call marvin lmao.
Neither this new strategy nor all the links to proulx promo's are helping the stock prices very much. mhtx .075, ibx still below 3 cents and creeping back down.
What happened to the metals deal?
How will mhtx and ibx fund operations going forward? Both are almost out of cash. Got any links to address those questions?
Those low shares just keep going lower and lower. Buy low and watch as price goes lower not a good investment strategy.
Looks like manny and marv have finally sucked all the life out of mhtx (and all the cash). They don't even bother to put out a fluffed up annual update anymore. And what has become of that metals deal? lock these guys up.
This new direction is a far cry from the promises from manny and marv. To see how disgusting these guys really are, read this update from 2014:
http://mhtx.com/news-and-media/press-releases/mhtx-issues-report-to-shareholders-pushing-the-limits-of-cancer-detection/
Almost 10 years ago they were bragging about taking the technology from bench to bedside. Even hired a consultant to accelerate the FDA approval process. Now it is clear that there never was a human instrument, not 10 years ago, not today. Penny stock con games, they never end.
Same old Proulx, good talker but he has squandered this opportunity that was handed to him.
The problem I have with this change of its core business is not the idea of having a non-invasive way of diagnosing cancer in the lymph nodes, this is a wonderful achievement, if it is proven out with more than just a few patients in a seemingly difficult study now going on for three years?
Proulx fails to mention the risks, which are many, starting with the competiton with more $$$ who can quickly capitalize on this achievement with more resources and very skilled management. He does add this in the IBX website, but I see this as more cover his bu-- after all how many investors actually look at the site on a daily basis, when you have the magical oz behind the curtain, pumping out videos.
What are the main risks associated with this shift?
We will face the same risks associated with new product entry in established and entrenched markets where low-cost ultrasound is ubiquitous despite performance limitations. However, we believe introduction for use with MRI will reduce those risks compared to introducing a new technology. We are not aware of other players trying to address the unmet medical need that we are by molecular imaging and hence expect to benefit from being the first mover and potentially obtain regulatory exclusivity in certain jurisdictions if approved first.
Same risks as new products
Not aware of competitors, which means there is nothing proprietary that IBX has that others can't quickly copy.
So how many years now and millions and millions spent on a technology that he couldn't make work and now he realizes that the non-proprietary nanoparticles work with MRI. I hope I am dead wrong and the SP flies to the moon, but without a partner like Siemens or some big name, this will be another nano particle company, not what I invested $$ into.
Anyone listen to proulx's "fireside chat" last night? If not, you should catch the replay. Don't be surprised or confused if you hear nothing about finances, just watch the share price to learn how much proulx's latest promo video is really worth.
The Future of Magnetic Relaxometry (MRX)
The Company plans to continue to develop the proprietary detection technology, known as the magnetic
relaxometry (MRX) in collaboration with academic and industry partners, focusing on a new generation of
small magnetic sensors that could enable the use of magnetic relaxometry, (Magsense), in the doctor’s office.
In the future MRX could be a game-changing instrument that would allow non-invasive cancer diagnosis at
the first point of care, e.g. at the urologist or OB/Gyn or general practitioner.
Do you think the world will ever see a commercialized Magsense human instrument?
From the Announcements Highlights :
Blinded review by panel of expert breast radiologists corroborates potential for MagSense® nanoparticle technology to detect tumour cells in lymph nodes by Magnetic Resonance Imaging (MRI).
Further in Paragraph 5 :
The confirmation by the panel of the Company’s assessment that cancer detection can be achieved when using the MagSense® imaging agent with MRI has significant implications for the Company.
Refer Pge 2 Paragraph 1 :
“We will continue to refine our proprietary relaxometry technology but can now confidently shift our resources to developing our nanoparticles for use with MRI, a ubiquitous imaging modality used in hospitals and radiology clinics throughout the world. We believe this will be more attractive for strategic partners and more likely for us to achieve commercial success sooner.” Since all MagSense® targeted imaging agents use the same underlying magnetic nanoparticle technology, the Company now plans to prioritize the development of its MagSense® nanoparticle technology for use with mainstream clinical MRI scanners. (Later reference : there are 30,000 clinical grade MRI scanners globally)
IMO this good news announcement is the start of an SP turnaround as the market becomes aware of our potential. Further patient data will continue to build our support as it becomes available. Our commercialisation strategy is being revealed and Siemens involvement may be the next good news release.
Interesting development, let's see how things shake out this week. Looks like good news for nanoparticles, but the end of the Magsense human instrument dream as it was described from marvin, manny and proulx for a decade. How this new approach translates across over 1 billion shares and cash running out is the question.
But at least now everyone can agree that, in spite of numerous claims to the contrary, completion of the the design and development of a human instrument hasn't happened and is a long, long way off (if it ever happens at all).
IBX, some great news from an independent blinded review by a panel of expert breast cancer radiologists which has corroborated previously reported positive findings for the company’s MagSense diagnostic tech.
The company says that the radiologists confirmed that the “MagSense HER2 imaging agent produces a change in image contrast and that the contrast in nodes highly suspicious for tumour is distinctly different from the MR image contrast seen in non-involved nodes”.
“The outcome of the independent review is welcome news, indeed,” Imagion Biosystems CEO Bob Proulx said.
“We now have a clear indication that our MagSense magnetic nanoparticle technology could work with the existing medical imaging infrastructure to provide the clinical benefit to breast cancer patients we have been aiming for.
“This takes a lot of the technical risk out of the future and will significantly facilitate market entry by eliminating the need to design, make, sell, and support new machinery.”
It appears that IBX's Magsense is taking a quicker financial road to success by focusing on collaborating with powerhouses like , maybe Siemens MRI, while still continuing work on their own MRX technology independently. We'll know better after their presentation tomorrow...
https://imagionbiosystems.com/news/priority-path-to-market-for-magsense-technology/
As everyone (at least the four of us LOL) knows that I have been harsh on Proulx, and I understand shareholders discontent with the present stock value and the necessity for extra financing, but it's vital to retain the outlook for the far-reaching ramifications of this innovation which I still believe in.
I guess I am feeling rather optimistic these days despite all these silly videos..Fabricating a life-saving contraption necessitates effort and investment, and while the primary 20 cent IPO holders may not immediately see monetary profits, it's essential to think about the bigger picture and the achievable positive effect this technology could have on individuals' lives.
The conclusion of the initial study is a critical turning point and will bring Imagion closer to achieving its aspirations. For now, let's persist in staying optimistic and positive about the future of this firm and its possible influence on humanity. It's not always about money.
Haven't heard a peep about the metals deal (aka manny and marv's latest meal ticket) for quite a while. Correct me if I am wrong, but I think those cash payments are about done. Why no updates from m&m? Running out of cash and price below a penny - maybe the boys have milked this one dry?
Any of you loyal believers spoken to manny or marv recently? Or are they no longer accepting your calls?
Another proulx promo, with not a word about the poor shareholders who paid 20 cents for this now 2 cent stock. Not a word about the need to raise cash or anything he will do to increase shareholder value (fyi, diluting at 2 cents or less to raise $millions is not going to help).
He did reinforce the message that if/when this 1st study is completed there will be a need for a much larger study (fyi, much larger cash requirements). Someday this might be a life saving instrument, but it won't save the financial life on the initial 20 cent ipo holders.
I can't seem to get this Interview to appear on here, but simply copy and view this from 2 days ago...
executive interviews/robert proulx of imagion biosystems
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