CHICAGO, Sept. 26, 2013 /PRNewswire/ -- Positron
Corporation (OTCBB: POSC) is pleased to announce it has entered
into a licensing agreement with the Institute for Nuclear Research
of the Russian Academy of Science (INR), Moscow, Russia, for its know-how, inventions
and technology related to the production of radiostrontium. Under
the agreement, INR grants Positron Corporation a worldwide license
to the proprietary technology, including the exclusive rights to
utilize the technology in the production of strontium-82 in
North America, in return for
royalty payments. Strontium-82 (Sr-82) is the precursor to
rubidium-82 (Rb-82), the leading radiopharmaceutical used in
Positron Emission Tomography (PET) myocardial perfusion
imaging.
The strontium-82 production technology was developed by Dr.
Воris Zhuikov, Head of the Laboratory Radioisotope Complex and
colleagues at INR, and is the first commercially meaningful
breakthrough in the Sr-82 production process in the last twenty
years. The developed technology has significant economic
benefits, as it simplifies the production process while increasing
the yield and quality of the product derived from rubidium
metal.
This improved rubidium metal Sr-82 production process, currently
practiced in Russia as well as by
a French radioisotope production facility, will be applied to
future rubidium metal target processing at Positron's Lubbock, TX facility. The most
significant aspect of this technology is the potential realization
of a real-time, in-line Sr-82 production mechanism using a rubidium
metal target loop on Positron's proposed 70 MeV
cyclotron. For such a dynamic target loop system, a
liquid cycling target is required. The only liquid target
material suitable for Sr-82 production is molten rubidium, an
alkali metal.
"For decades the top Russian scientific agencies have lead in
the innovation, development and industrial application of liquid
alkali metal loops in radioactive environments such as the liquid
sodium metal cooling loop used in its fast breeder reactors,"
stated Jason Kitten, Executive
Director of Radioisotopes for Positron Corporation. "This
same proven technology provides the technical basis for the design
and application of a liquid rubidium metal loop. Positron now has
the opportunity to build on the practical experience and proven
success of alkali metal loops to substantially impact the future of
Sr-82. Positron's application of an inline Sr-82 production
mechanism and target system is revolutionary and enhances the
scalability of Sr-82 production, providing higher yield and volumes
that are required to meet the ever increasing demand for Rb-82
PET."
Patrick G. Rooney, Chief
Executive Officer of Positron Corporation, states, "We are
extremely pleased with our agreement with INR, as it provides
Positron with access to the best strontium-82 production technology
in the world. This technology further complements our existing
Sr-82 IP portfolio and is another key element in Positron's
strategy and one that provides Positron a competitive advantage in
the cardiac PET imaging market in North
America."
Jason Kitten further states, "Dr.
Boris Zhuikov and his radioisotope
production team have provided a significant portion of the global
Sr-82 supply for the past 17 years. During this time
Dr. Zhuikov has developed, tested, and proven a novel mechanism for
significantly improving upon the current method used for producing
Sr-82 from rubidium metal. This proven technology will allow a
substantial increase and scalability of Sr-82 supply, which is
necessary for the industry to sustain the projected double-digit
growth. The increase in Sr-82 will help meet future demands and
fortify cardiac PET as a sustainable and preferred modality for
cardiac imaging. We are excited that INR has recognized our
expertise in the field and has chosen the Positron team for
implementation of this technology."
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.
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