Positron Completes Agreement With Institute of Nuclear Research, Troitsk, Russia for Additional Strontium-82 Supply
FISHERS, Ind., Feb. 7, 2012 /PRNewswire/ -- Positron Corporation (OTCBB: POSC), through its wholly owned subsidiary, Manhattan Isotope Technology, LLC (MIT), is pleased to announce the execution of a Memorandum of Understanding with the Institute of Nuclear Research (INR) of Troitsk, Russia. MIT and INR will collaborate on strontium-82(Sr-82) production beginning with a pharmaceutical ingredient validation exercise in 2012. A key goal of the collaboration is to increase the annual production capability of Sr-82 produced at INR and thereafter increase supply to key markets. Initial shipments of Sr-82 samples are expected at the MIT Facility in Lubbock, TX in the spring of 2012. These samples will be processed at MIT for final purification into Active Pharmaceutical Ingredient (API). This supply source and radiochemical methodology work will also be a part of the 2012 Drug Master File submission to the U.S. FDA.
Since 1997, INR at Troitsk has made crucial contributions to the yearly supply of Sr-82 in the U.S. through the supply of target material to Los Alamos National Laboratory (LANL) for processing. INR is one of a small number of global accelerator facilities which are capable of producing Sr-82. Leading the collaboration for INR is Dr. Boris Zhuikov, Head of Laboratory of Radioisotope Complex Institute for Nuclear Research of Russian Academy of Sciences and Jason Kitten, President of MIT and Chief Technology Officer of Positron Pharmaceuticals. Dr. Zhuikov and Mr. Kitten previously collaborated on Sr-82 production from 1997-2010 while Mr. Kitten was at Los Alamos National Laboratory. Additional Russian institutions participating in the Sr-82 project are the Institute of Physics and Power Engineering (IPPE) and The Isotope Company; both which are located in the premier Russian science city of Obninsk. IPPE and The Isotope Company are entities which reside within the Russian State Atomic Energy Corporation, ROSATOM.
Jason Kitten, President of MIT, commented upon the significance of the MOU, "Working with a reliable, proven, provider such as INR is an enormous win for the Sr82/Rb82 generator community and Positron. Throughout the past 14 years, INR has played a significant role that has bolstered the US medical isotope supply. Through INR's production expertise and reliability of supply, the growth of Sr-82 has been possible, thus making the Sr82/Rb82 generator a mainstream modality for cardiac perfusion imaging." On behalf of INR, Dr. Boris Zhuikov commented, "This is an important supplement to the current collaboration with Los Alamos National Laboratory. INR now brings forth the possibility of not only supplying irradiated targets for process in the U.S., but through a combination of partners, will produce Sr-82 via a new method developed in Russia. In addition, INR will use a portion of this strontium for preparing INR's Sr-82 generator in an effort to meet the needs of national medicine in Russia and also the needs of the nuclear medicine communities in neighboring countries. This is a new, important growth step in INR's business."
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.
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