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Positron Finalizes Acquisition of Manhattan Isotope Technology, LLC
Date:1/17/2012

FISHERS, Ind., Jan. 17, 2012 /PRNewswire/ -- Positron Corporation (OTCBB: POSC), a leading molecular imaging company specializing in the field of nuclear cardiology is pleased to announce the acquisition of Manhattan Isotope Technology, LLC (MIT).  Positron has acquired all of the assets, business operations and retained all employees of MIT. In exchange, MIT shall receive cash advances, assumption of certain indebtedness and earn-out consideration of $3,500,000 based on 20 percent of the net income from sales relating to radioisotope and radiopharmaceutical operations of MIT.

Positron, through its wholly owned subsidiary MIT, is the only commercial resource in the United States with practical knowledge and experience in all stages of strontium-82 (Sr-82) production, and spent generator lifecycle management.  Positron will focus on increasing Sr-82 supply through the processing of proton irradiated target material from domestic & foreign suppliers and recycling Sr-82 from spent generators.  MIT seeks to become the first supplier to provide Active Pharmaceutical Ingredient (API) grade Sr-82 in the U.S. besides the United States Department of Energy.  In an effort to expand Positron's radioisotope product offerings, MIT possesses the unique and specialized expertise in the production of additional radioisotopes, such as germanium-68, selenium-72 and others, which are currently only supplied by the U.S. Government. 

In pursuit of securing a proprietary supply of radioisotopes for cardiac PET imaging, Positron plans to build and operate the world's largest commercial high energy/high current cyclotron (70MeV) in the U.S.  With the addition of MIT, Positron gains the ability to develop internal processing capabilities, gain regulatory approvals and establish a broad multiple product customer base further enhancing the timeliness of launch and long term value of this project.  Positron's planned cyclot
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SOURCE Positron Corporation
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