Advanced Medical Isotope Corporation Receives Positive Results from Initial Tests...
Advanced Medical Isotope Corporation Receives Positive Results from Initial
Tests of a Proprietary and Innovative Method for the Domestic Production of
Molybdenum-99
KENNEWICK, Wash., Nov. 3, 2009 (GLOBE NEWSWIRE) -- Advanced Medical Isotope
Corporation ("AMIC") (Pinks Sheets:ADMD) (www.isotopeworld.com), a company
engaged in the production and distribution of medical isotopes, is delighted to
announce the encouraging results from initial tests conducted at Idaho State
University (Pocatello, Idaho) in conjunction with researchers from the
University of Missouri (Columbia, Missouri).
"Let there be little doubt about it -- thus far, we are proving exactly what we
anticipated -- that AMIC expects its accelerator based proprietary technology to
be first to market in the rush for domestic production of molybdenum-99 for
medical purposes," stated Chief Science Officer Dr. Robert Schenter.
As stated in the 'Markey' Bill H.R. 3276: Molybdenum-99 is a critical medical
isotope whose decay product technicium-99m is used in approximately two-thirds
of all diagnostic medical isotope procedures in the United States, or 16 million
medical procedures annually, including for the detection of cancer, heart
disease, and thyroid disease, investigating the operation of the brain and
kidney, imaging stress fractures, and tracking cancer stages."
While much of the country is focused on the economic crisis and the health care
legislation, many physicians on the front lines are dealing with the very real
isotope crisis, caused in part by the recent shutdown of the Chalk River reactor
in Canada, which had previously supplied virtually all of the U.S. demand for
Molybdenum-99.
"The current crisis is resulting in needless morbidity and mortality. The
isotope shortage is preventing physicians from diagnosing and treating heart and
cancer patients. This is resulting in unnecessary deaths and suffering,"
insisted Glen Farkas, MD, a practicing physician and Medical Advisor to Advanced
Medical Isotope Corporation.
CEO James C. Katzaroff explained that "The technology we are developing is
expected to be able to capture a significant portion of the United States
domestic market. Further, AMIC anticipates being the first domestic producer as
the time to build is expected to be much shorter than comparable reactor
systems. Further, it appears that the production facility will have much lower
costs associated with both build-out as well as with ongoing operations versus
comparable reactor systems. In addition to that, this accelerator based approach
is designed to be below criticality. It is significant to note that because this
system employs LEU (low enriched uranium) it would comply with H.R. 3276, and
unlike a nuclear reactor, this accelerator-driven system cannot go critical."
Advanced Medical Isotope Corporation is commencing in a second round of
prototype tests.
Katzaroff further explained that "It is our wish and desire to have the first
production facility in either Washington State or in Idaho and we have begun
discussions and site selection utilizing optimal search parameters."
The Advanced Medical Isotope Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5139
SAFE HARBOR
The information posted in this release may contain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995. You
can identify these statements by use of the words "may," "will," "should,"
"plans," "explores," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking statements involve
risks and uncertainties that could cause results to differ materially from those
projected or anticipated. These risks and uncertainties include, but are not
limited to, general economic and business conditions, effects of continued
geopolitical unrest and regional conflicts, competition, changes in technology
and methods of marketing, delays in completing various engineering and
manufacturing programs, changes in customer order patterns, changes in product
mix, continued success in technological advances and delivering technological
innovations, shortages in components, production delays due to performance
quality issues with outsourced components, and various other factors beyond the
Company's control.
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CONTACT: Advanced Medical Isotope Corporation
James C. Katzaroff
509-736-4000
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