ISR IsoRay Inc

On July 30, 2019, Isoray Medical, Inc. (“Medical”), a wholly owned subsidiary of Isoray, Inc., entered into a supply contract (the “New Agreement”) with Joint Stock Company «Isotope», a Russian company (“JSC Isotope”), effective July 26, 2019. Pursuant to the New Agreement, Medical will purchase Cesium-131 manufactured by Joint Stock Company ‹‹Institute of Nuclear Materials›› and sold by JSC Isotope, at the quality standards, volume, and pricing indicated in the New Agreement, from August 2019 through December 2020. Medical and JSC Isotope previously entered into a separate supply contract, dated December 15, 2015, as subsequently amended by Addendums 1 through 9 (together, the “Prior Agreement”). Although the Prior Agreement remains in effect until December 31, 2019, Medical has or will shortly purchase the maximum amount of Cesium-131 permitted under the Prior Agreement. Therefore, Medical will make all future purchases of Cesium-131 under the New Agreement. Unlike the Prior Agreement, under the New Agreement Medical is responsible for paying shipping and freight costs from Russia. However, the purchase price paid per curie by Medical has been reduced from the purchase price paid under the Prior Agreement.

The foregoing summary of the New Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the New Agreement. A copy of the New Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.