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Positron to Launch Indium Oxine as Initial Product Manufactured at Crown Point Facility

^{Published on 2011-03-14 06:55:24 - Market Wire}
 

INDIANAPOLIS--([ BUSINESS WIRE ])--Positron Corporation (OTCBB: POSC) a molecular imaging company announced today that it is developing indium oxine, a radiopharmaceutical widely used for the radiolabeling of blood elements. This project signifies Positrona™s entrance into direct radiopharmaceutical manufacturing and sales; indium oxine is the first new product in development at Positrona™s research, development and manufacturing facility in Crown Point, Indiana.

Positron initially intends to produce a radiochemical grade indium oxine product that will be available to market in the second quarter of 2011, with radiopharmaceutical grade availability upon FDA approval. The Company currently estimates the market for indium oxine to be approximately $20 million dollars annually.

The Company also announced it has retained Dr. Mathew Thakur of Thomas Jefferson University as a consultant for the development of its indium oxine product. Dr. Thakur is a known expert in the field and, over the course of 35 years, has worked extensively with the product along side other luminaries in developing the use and applications of indium as well as other pharmaceuticals used in diagnostic imaging.

Scott Stiffler, vice president of Positron pharmaceuticals, added, aThe market for indium oxine has been underserved for some time now and presents an ideal opportunity for Positron to expand both the use of the product and to achieve our initial radiopharmaceutical objectives. Dr. Thakura™s knowledge and guidance as a thought leader in the industry, combined with the expertise of our development staff, will allow Positron to develop a fully cGMP compliant manufacturing process and file for a generic drug approval with the FDA.a

The Company cited advancements made in the development of indium oxine as critical in establishing the procedures, protocols and expertise necessary to manufacture other new radiopharmaceutical products and related dispensing devices for diagnostic imaging.

Dr. Thakur is the director of the Laboratories of Radiopharmaceutical Research and Molecular Imaging in the Department of Radiology at Thomas Jefferson University. He is also an active member of the Kimmel Cancer Center and professor of radiation oncology and a former president of the Society of Nuclear Medicine.

About Positron: Positron is a molecular imaging company focused on Nuclear Cardiology. Positron Corporation, a pioneer in positron emission tomography for more than 25 years provides unique solutions for the nuclear medicine community through the production and distribution of proprietary molecular imaging systems and radiopharmaceutical products. 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 Section27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and 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. 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.

For further information please contact the CSIR Group at [ info@csirgroup.com ].