I think they want us to see this again:
May 20, 1999 07:45
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
/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) |
