Advanced Medical Isotope Corporation Receives Positive Results from Initial Tests of a Proprietary and Innovative Method for the Domestic Production of Molybdenum-99
* Press Release * Source: Advanced Medical Isotope Corporation * On 9:58 am EST, Tuesday November 3, 2009
o Buzz up! 0 o Print
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."