Positron receives Nuclear Regulatory Commission manufacturing and distribution license
CROWN POINT, INDIANA—March 23, 2012—Positron Corporation (OTCBB:POSC), a leading molecular imaging healthcare company, specializing in the field of nuclear cardiology announces the approval of their Nuclear Regulatory Commission (NRC) manufacturing and distribution license amendment for the Company's radiopharmaceutical manufacturing facility in Crown Point, Indiana.
Positron received its pharmacy license from the Indiana Board of Pharmacy in December 2011, which served as a precursor to the NRC amendment and recent approval, allowing Positron to manufacture and distribute radiochemicals and radiopharmaceuticals throughout the United States. The Company is currently producing Indium 111 Oxyquinoline for customer evaluation and commercial sale with plans to process additional radioisotopes for medical use.
"This NRC approval completes the mandatory requirements qualifying our Crown Point site as a fully licensed and operational radiochemical manufacturing facility" states Scott Stiffler, Positron's Vice President of Pharmaceuticals. "The capabilities at the Crown Point facility will play a vital role in Positron's expansion into radiopharmaceutical and radiochemical production and further development of products relevant to our full solution strategy. We expect sales of Indium Oxyquinoline to commence in the coming quarter."
Positron Corporation is a leading molecular imaging healthcare company providing innovative nuclear medicine technologies and solutions that are reshaping the field of nuclear cardiology. Through proprietary PET imaging systems, services 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 "Risk Factors" in our filings with the Securities and Exchange Commission.
For more information, contact:
Patrick G. Rooney
Chief Executive Officer