IDAHO FALLS, Idaho, April 9, 2019 /PRNewswire/ -- International Isotopes Inc. (OTCQB: INIS) (the "Company") has announced it has executed a manufacturing and supply agreement with Progenics Pharmaceuticals Inc. ("Progenics"). Under this agreement, the Company will provide contract manufacturing services for AZEDRA® (Ultratrace® Iobenguane I-131) and other iodine products.
Steve T. Laflin, President and CEO of the Company, said, "We are very pleased to have an opportunity to enter into this manufacturing and supply agreement with Progenics. Contract manufacturing for Progenics builds upon our license qualifications and experience in handling iodine-131 and helps further broaden our customer base and technical experience. Speaking for the entire team at the Company, we certainly welcome this new opportunity and look forward to a long and beneficial relationship with Progenics."
Progenics had previously announced U.S. Food and Drug Administration ("FDA") approval of AZEDRA in July 2018. AZEDRA is the first and only approved therapy in the U.S. for the treatment of adult and pediatric patients 12 years and older with iobenguane scan positive, unresectable, locally advanced or metastatic pheochromocytoma or paraganglioma who require systemic anticancer therapy. Progenics also plans to explore potential pathways for additional AZEDRA indications in other multiple MIBG-avid tumor indications, including gastroenteropancreatic and other neuroendocrine tumors.
About International Isotopes Inc.
International Isotopes Inc. manufactures a full range of nuclear medicine calibration and reference standards and provides radiochemicals for clinical research and life sciences. The Company also produces bulk cobalt-60 and manufactures a variety of cobalt-60 products such as teletherapy sources and provides a wide range of radiological field services on a contract basis to clients.
Certain statements in this press release are "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, including, but not limited to, the expectations under the new manufacturing and supply agreement with Progenics and the expansion of the Company's manufacturing facilities. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including our Annual Report on Form 10-K for the year ended December 31, 2018. Investors, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE International Isotopes Inc.