BALTIMORE, MD, Sept. 6, 2012 /CNW Telbec/ - Jubilant DraxImage Inc.
(hereinafter "JDI"), a Jubilant Life Sciences Company, is pleased to
announce that Positron Corporation, (hereinafter "Positron") and JDI
have executed a Letter of Intent pertaining to:
Positron's supply of Active Pharmaceutical Ingredient (API) grade Sr-82
for the JDI Sr-82/Rb-82 generator;
JDI's and Positron's co-promotion of JDI Sr-82/Rb-82 generators to
end-users (upon FDA clearance); and
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
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, CEO 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 validated many times over, we
strongly believe that the arrival of an alternative, upon the FDA
clearance of JDI's generator, will be welcomed by the cardiac PET
JDI and Positron expect to complete a Definitive Agreement within 3
About Jubilant DraxImage Inc.:
Jubilant DraxImage Inc., a subsidiary of Jubilant Life Sciences,
develops, manufactures and markets diagnostic and therapeutic
radiopharmaceuticals for the global nuclear medicine marketplace.
Jubilant DraxImage Inc.'s mission is to be a leading global provider of
radiopharmaceuticals and value-added enabling technologies. Products
include a proprietary line of lyophilized Technetium-99m kits (MAA,
MDP, DTPA and Sestamibi). Jubilant DraxImage Inc. is also a leading
supplier of I-131 radiopharmaceuticals in North America, used for the
diagnosis and treatment of thyroid disorder and cancer. Jubilant
DraxImage Inc. products are exported worldwide, with regulatory
approvals in USA, South America, parts of Europe and South Asia. More
information about Jubilant DraxImage is available at www.draximage.com.
About Positron Corporation:
Positron Corporation (OTCBB:POSC) is a leading molecular imaging
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.
SOURCE: Jubilant DraxImage Inc.
For further information:
Vice-President Commercial Operations
Jubilant DraxImage Inc.
Mobile: +1 (514) 909-1167