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FISHERS, Ind.--([ BUSINESS WIRE ])--Positron Corporation (OTCBB:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology is pleased to announce today that on Friday November 11, 2011, Positron and Manhattan Isotope Technology LLC. (MIT LLC) entered into a binding Letter of Intent to acquire MIT LLC. The transaction will close January 2, 2012 upon execution of final transaction documents.

"Working with MIT over the past several months has made it very clear that Manhattan Isotope shares Positron's long term vision of creating a reliable commercial domestic supply of Sr-82 and other radioisotopes produced in our planned 70 MeV cyclotron"

Manhattan Isotope is the leading commercial resource in the United States with practical knowledge and experience in all stages of strontium-82 production. The Companyas current facility in Lubbock, Texas has the capacity to provide critical services necessary for the refurbishment of spent strontium82/rubidium82 generators and thereafter the recycling of strontium-82 using patented methods. Over the past five years the explosive growth of PET imaging has driven a significant increase in the Sr82/Rb82 generator demand, creating an environment whereby the Sr-82 demand has begun to outpace supply. MIT LLC will focus on the pursuit of increasing the Active Pharmaceutical Ingredient (API) Sr-82 supply through the recycling of Sr-82 from spent generators and production of Sr-82 from foreign suppliers.

Founded in 2009 by former Los Alamos National Laboratories (LANL) scientists, Manhattan Isotope personnel were at the core of the DOE team that developed the patented technology for recycling Sr-82 from expired Sr82/Rb82 generators. This patented recycle production method was exclusively licensed by MIT LLC from the United States Department of Energy (DOE) via Los Alamos National Laboratory in 2010.

aWe are excited at the prospect of welcoming the world-class innovations and talented employees of Manhattan Isotope to the Positron team,a said Patrick G. Rooney, CEO of Positron. aMIT has the intellectual property, expertise and facilities needed to accelerate Positronas plans for securing the supply channel and becoming a leader in Sr-82 supply whereby offering a full PET solution for the nuclear cardiology industry.a

aWorking with MIT over the past several months has made it very clear that Manhattan Isotope shares Positron's long term vision of creating a reliable commercial domestic supply of Sr-82 and other radioisotopes produced in our planned 70 MeV cyclotron,a Said Scott Stiffler, VP of Pharmaceuticals. aWe believe Manhattan Isotope will bring immediate value to Positron and could provide a credible and viable radioisotope processing plan, access to existing non DOE isotope supply, supply chain management, and radioactive waste solutions.a

aWe are excited to fast-track MITas visualization of full service Sr-82 production, generator lifecycle support, and current pursuit of other high energy, high current cyclotron produced radioisotopes which are in short supply,a said Jason Kitten, President and co-founder of Manhattan Isotope Technology. aPositron's business plan that includes the construction of the first 70 MeV cyclotron in the US complements and fulfills the long term vision of Manhattan Isotope while Positronas presence in the PET imaging market brings a tremendous strategic asset to the total full solutions provider model and defines Positron as an innovator in combining radioisotopes, radiopharmaceuticals and imaging systems under one organization.a

About Positron: Positron Corporation is a leading molecular imaging company providing innovative nuclear medicine technologies and services that are reshaping the field of nuclear cardiology. Through proprietary PET imaging systems and radiopharmaceutical solutions, Positron enables healthcare providers to more accurately diagnose disease and improve patient outcomes while practicing cost effective medicine. Positron has gained significant traction in a diverse industry and continues their strong commitment to excellence and advancing cardiac imaging solutions. 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 Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements 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. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. 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 aRisk Factorsa in our filings with the Securities and Exchange Commission.