BALTIMORE, Sept. 6, 2012 /PRNewswire/ -- Positron Corporation (OTCBB: POSC), - is pleased to announce that Jubilant DraxImage Inc. (hereinafter "JDI"), a Jubilant Life Sciences Company, and Positron Corporation (hereinafter "Positron"), have executed a Letter of Intent pertaining to:
(a) Positron's supply of Active Pharmaceutical Ingredient (API) grade Sr-82 for the JDI Sr-82/Rb-82 generator;
(b) JDI's and Positron's co-promotion of JDI Sr-82/Rb-82 generators to end-users (upon FDA clearance); and
(c) Positron's lifecycle management for expired JDI Sr-82/Rb-82 generators.
The strategic alliance between JDI and Positron will facilitate the stabilization, security and growth of the industry by increasing the supply of radioisotopes and radiopharmaceuticals. The Parties expect that it will also provide considerable benefits to both Parties: Positron secures a generator supply for future sales of cardiac PET scanners and a customer for Sr-82; JDI secures a reliable supply of Sr-82, a vendor for expired generators management, and a strategic partner with a growing customer base of cardiac PET scanners installed and serviced.
Martyn Coombs, President of Jubilant DraxImage stated, "Through its wholly owned subsidiary, Manhattan Isotope Technology (MIT), Positron positioned itself as the only private entity in the U.S. with the practical experience of servicing the Sr82/Rb82 generator lifecycle. Their ability to provide a more stable and secure supply of API Sr-82 and management of expired Sr-82/Rb-82 generators fits well with JDI's pre-launch strategy. "
Patrick Rooney, Chief Executive Officer of Positron stated, "JDI has developed a robust Sr82/Rb82 generator and elution system. As the Sr82/Rb82 generator on the market has enjoyed tremendous growth and the merits of the technology have been vali
|SOURCE Positron Corporation|
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