(PR NEWSWIRE) Isonics Corporation Announces Agreement with Global Scientif
Isonics Corporation Announces Agreement with Global Scientific Technologies For
Joint Production and Marketing
To Supply Growing Demand for Cancer Diagnostic Systems
GOLDEN, Colo., May 20 /PRNewswire/ -- Isonics Corporation
(OTC Bulletin Board: ISON) announced today that it has signed a joint
cooperation agreement with Global Scientific Technologies (GST), a
St. Petersburg, Russia-based manufacturer of specialty chemicals, for the
production, marketing and sale of the stable isotope oxygen-18 (O-18). GST is
one of the world's leading producers of O-18, for which there is a growing
demand in several high-technology industries including medicine, lasers and
semiconductors.
The primary application for O-18 is in positron emission tomography (PET),
a diagnostic imaging technology that assesses metabolic activity in different
parts of the body and is used to more accurately diagnose and manage the
treatment of certain types of cancer. Recent favorable decisions by third
party health insurance providers and the Health Care Financing Administration
(HCFA) related to reimbursement of PET procedures have resulted in significant
growth in the number of these procedures being performed. The resultant
demand for O-18, a key ingredient of PET, has risen significantly, resulting
in short supplies and significant price increases.
Isonics Vice President, Medical & Research Business Daniel Grady, Ph.D.,
commented, "We've worked closely with GST during this past year to establish a
superior quality and a reliable supply of O-18 product. We anticipate that
the demand for O-18 will continue to grow as approved PET procedures become
more widespread and as new PET applications are developed by the medical
community. We expect that with our marketing involvement and the
implementation of our innovative recycling program, Isonics/GST will become a
recognized world leader in both quality and capacity. We are extremely
pleased to have our year-long cooperation culminate in this long-term
agreement."
Isonics was chosen by GST from among several prospective corporate
partners. The selection of Isonics as exclusive partner was based on its
broad experience and knowledge of the market; record of success in marketing
Russian isotope products; and willingness as well as ability to invest in
additional capacity and products. Additionally, Isonics developed an O-18
recycling program whereby spent product from the PET process is repurchased
from the user and re-enriched at the manufacturing facility to its original
high standards. This program has resulted in increased manufacturing
capacity, cost savings to the end user and higher margins for the Isonics/GST
partnership. For more information on the O-18 recycling program, please visit
www.isonics.com/18orecycle.htm.
Isonics is an advanced materials and technology company which develops and
commercializes products based on enriched stable isotopes. Stable isotopes
can be thought of as ultra-ultra pure materials. This high degree of
purification provides enhanced performance properties compared to normal
materials. Stable isotopes have commercial uses in several areas, including
energy; research, medical diagnostics, and drug development; product tagging
and stewardship; semiconductors; lasers; and optical materials. For more
information on oxygen-18, silicon-28 and other Isonics products, please visit
the Isonics web site at www.isonics.com.
Except for historical information contained herein, this document contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements involve known and unknown
risks and uncertainties that may cause the Company's actual results or
outcomes to be materially different from those anticipated and discussed
herein. Further, the Company operates in industries where securities values
may be volatile and may be influenced by regulatory and other factors beyond
the Company's control. Other important factors that the Company believes
might cause such differences are discussed in the risk factors detailed in the
Company's 10-KSB for the year ended April 30, 1998 filed with the Securities
and Exchange Commission. In assessing forward-looking statements contained
herein, readers are urged to carefully read all cautionary statements
contained in the Company's filings with the Securities and Exchange
Commission.
SOURCE Isonics Corporation
-0- 05/20/99
/CONTACT: James E. Alexander of Isonics Corporation, 303-279-7900; or
Matt Clawson of Allen & Caron, Inc., 714-957-8440, for Isonics Corporation/
/Web site: isonics.com
/Web site: isonics.com
(ISON GST)
CO: Isonics Corporation, Global Scientific Technologies
ST: Colorado, Russia
IN: CPR MTC
SU: JVN LIC
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