CHICAGO, July 29, 2013 /PRNewswire/ -- Positron
Corporation (OTCBB:POSC) announces it has entered into a multi-year
radioisotope supply agreement with iThemba LABS of Cape Town, South Africa. The supply
agreement contracts the procurement of raw material, strontium-82
(Sr-82) from iThemba LABS for further production of the Active
Pharmaceutical Ingredient (API) at Positron's radioisotope
production facility in Lubbock, TX. In September 2013, Positron will receive relevant
volumes of strontium-82 for qualification and will commence with
commercial availability beginning in February 2014. This additional supply will
enhance the industry's strontium-82 supply and increase the
availability of radiopharmaceuticals to the end user. Positron
intends to make this Sr-82 API supply available to all rubidium-82
generator producers in the marketplace.
The iThemba Laboratory for Accelerator-Based Sciences (LABS) is
a group of multi-disciplinary research laboratories administered by
the National Research Foundation of South
Africa. The iThemba LABS facility provides basic and applied
research using particle beams, particle radiotherapy for the
treatment of cancer and the supply of accelerator-produced
radioactive isotopes for nuclear medicine and research. The
Radionuclide Production Department has been producing
radiopharmaceuticals and radionuclides for the past 23 years, some
of them include 67Ga-citrate, 123I-products,
18F-FDG, 68Ge/68Ga generators,
22Na UHV positron sources and 82Sr
(irradiated Rb or RbCl targets). iThemba LABS is the largest
facility of its kind in the Southern Hemisphere and one of six
facilities in the world that can produce Sr-82 with a proton
accelerator.
"Over the past 15 years, iThemba LABS has played an integral
role in supplying a significant portion of the global Sr-82
supply," states Jason Kitten,
Executive Director of Radioisotopes for Positron. "During my
tenure, with the U.S. Department of Energy at Los Alamos National
Laboratory, I came to recognize iThemba LABS as a global leader and
am pleased to continue our relationship. This agreement is a true
testament to our mutual commitment to cardiac PET and enhancing the
reliability of this vital lifeline to the industry. This
collaboration further advances and strengthens the progression of a
successful technology transfer of the Sr-82 lifecycle, from the
U.S. DOE to the private sector. We look forward to a mutually
beneficial partnership, whereby iThemba LABS can assist in
expanding the cardiac PET market in the U.S. through Sr-82 supply
and Positron will assist in bringing the cardiac PET modality to
the African continent with iThemba LABS leading the effort."
About Positron: Positron Corporation is a nuclear
medicine healthcare company vertically integrating all the segments
of nuclear cardiology, providing an end-to-end solution for cardiac
PET. Through proprietary PET imaging systems,
radiopharmaceuticals and radioisotopes solutions, Positron enables
healthcare providers to more accurately diagnose disease and
improve patient outcomes, while practicing cost effective medicine.
Positron's unique products, market position and approach in
securing the supply chain are substantial advantages, further
accelerating the adoption of cardiac PET and growth of nuclear
cardiology. Positron is redefining the industry. More
information about Positron is available at www.positron.com.
About iThemba LABS: iThemba (which means HOPE in Nguni
languages) Laboratory for Accelerator Based Sciences is a National
Research Facility administered by the National Research Foundation
of South Africa. Located at two
sites in Cape Town and Gauteng,
the facility is committed to unleash African potential through
knowledge creation, innovation and human capacity building. The
infrastructure available at iThemba LABS is used to advance
knowledge in the field of experimental nuclear physics and
applications.
The particle beams available at the facility in Cape Town are used to:
- Advance the fundamental understanding of the structure and
reaction mechanisms governing interactions of charged projectiles
with target nuclei;
- Offer proton and neutron particle radiotherapy;
- Produce radionuclides for medical and industrial
applications;
- Provide analysis techniques for applications in materials
research.
The Radionuclide Production Department at iThemba LABS has been
producing isotopes for the past 23 years and is currently one of
six facilities in the world capable of producing Sr-82. More
information on iThemba LABS is available at www.tlabs.ac.za.
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