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Positron Corporation (OTCBB:POSC), a molecular imaging company specializing in the field of nuclear cardiology announced today that on Friday Nov. 11, 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.
Manhattan Isotope is a commercial resource in the United States with practical knowledge and experience in all stages of strontium-82 production. The company’s current facility in Lubbock, Texas has the capacity to provide 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.
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