Manhattan Isotope Technology Receives License Amendment Approval for Strontium-82
MIT Initiates 2012 Sr-82 Validation Project
FISHERS, Ind., Jan. 27, 2012 /PRNewswire/ -- Positron Corporation (OTCBB:POSC), a leading molecular imaging healthcare company, specializing in the field of nuclear cardiology, is pleased to announce that on January 23, 2012, its wholly owned subsidiary, Manhattan Isotope Technology (MIT), received approval of its radioactive materials license amendment. The Texas Department of State Health Services- Radiation Control Program granted the amendment approval.
This specific amendment will now permit for the receipt and processing of solutions, which contain Sr-82 and multiple other radioisotopes. Over the next six months MIT will obtain Sr-82 target solutions, from foreign irradiators, for final purification into Active Pharmaceutical Ingredient (API) grade Sr-82 at the MIT facility in Lubbock, TX.
During proton irradiation to produce Sr-82, many other radioisotopes are co-produced. These additional isotopes are removed from Sr-82 during radiochemical processing. The previous MIT radioactive materials license was limited to two radioisotopes: Sr-82 and Sr-85. The new amended license broadens the scope of isotopes permitted on site and allows MIT greater flexibility in this validation phase.
Commenting on the significance of the license approval, MIT President and Positron Pharmaceutical, Chief Technical Officer, Jason Kitten stated, "Positron and MIT are rapidly implementing a new foundation for cardiac PET by increasing the supply and reliability of Sr-82. Positron has designed a superior integrated business model for the reliability and expansion of cardiac PET in the US. With this latest license approval, MIT has significantly accelerated Positron's Sr-82 mission and will begin supporting Sr-82 supply in 2012, further strengthening Positrons goal of solidifying cardiac PET's progression in the US."
About Positron: Positron Corporation is a leading molecular imaging healthcare company providing innovative nuclear medicine technologies and solutions that are reshaping the field of nuclear cardiology. Through proprietary PET imaging systems, services and radiopharmaceutical solutions, Positron enables healthcare providers to more accurately diagnose disease and improve patient outcomes while practicing cost effective medicine. Positron has gained significant traction in a diverse industry and continues their strong commitment to excellence and advancing cardiac imaging solutions. More information about Positron is available at www.positron.com.
Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
SOURCE Positron Corporation
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