ATLANTA, GA and WARSAW, POLAND--(Marketwired - June 10, 2014) - Perma-Fix Medical, which holds the exclusive license to develop and market Perma-Fix Environmental Services' (PESI) reliable, cost effective, non-uranium process to produce technetium-99 (Tc-99m), the most widely used medical isotope in the world, today announced that Stephen Belcher has joined its advisory board. Mr. Belcher brings over 19 years of senior experience in the nuclear pharmaceutical arena with a proven history of success in startups, mergers, acquisitions, operations, and sales.
Due to a variety of issues, the present production methods of Tc-99m have resulted in a highly unreliable supply chain. Mr. Belcher will work with and advise Perma-Fix Medical to advance its new process, which is expected to solve the current supply chain and reliability issues.
Mr. Belcher is a founder, principal, and Vice President of Triad Isotopes, which was formed in 2007 and has grown to 60 pharmacies and $270 million in sales. Mr. Belcher has contributed to the success of Triad as its architect and in numerous roles ranging from Vice President of Sales and Marketing to Vice President of Strategic Accounts. In this last role, Mr. Belcher helped secure over $300 million in growth opportunities over the last 2 years alone. Previously, Mr. Belcher served as an officer and principle architect of multiple successful new ventures. One of his companies was credited with establishing the first unit dose radiopharmaceutical sales in Puerto Rico. While growing the company, he managed a merger with a strategic partner and then worked with the partners to execute an exit strategy with Bristol Meyers Squibb. Mr. Belcher served as Chairman of the Board for the Association for Independent Nuclear Pharmacies and has extensive recognition throughout the nuclear medicine community. He serves on the boards of, or as an advisor to, multiple companies in the medical sector as well as having the privilege of serving on the board for Make a Wish Alabama.
Dr. Louis F. Centofanti, CEO of Perma-Fix Medical, commented, "We are quite pleased to have an industry executive of Stephen's caliber join our advisory board. He has already provided us valuable strategic insight and brings very deep industry relationships. His appointment follows the recent validation of our medical isotope technology through tests conducted at POLATOM in Warsaw and the MURR reactor in the U.S. Our next steps involve establishing and securing partnerships and moving forward on the regulatory approval front, where we believe we will stand to benefit from Steve's expertise."
Mr. Stephen Belcher noted, "I am excited to join Perma-Fix Medical's advisory board at this major inflection point. I believe the technology they developed has the potential to reshape the global supply chain of Tc-99m in the United States and around the world. Perma-Fix Medical's process addresses major environmental and political issues surrounding the current production method, which involves the use of weapons grade uranium. Perma-Fix Medical's process does not utilize any form of uranium, is cost effective and should help create a more reliable supply chain for Tc-99m around the world."
About Perma-Fix Medical
Perma-Fix Medical is a subsidiary of Perma-Fix Environmental Services, a NASDAQ listed company. It was formed to develop, obtain FDA and other regulatory approval and commercialize a new process to produce Technetium-99 (Tc-99m), the most widely used medical isotope in the world. The new process is expected to solve worldwide shortages and reliability issues of Tc-99m as it is cost competitive, simple, does not require the use of uranium as a starting material, and can be easily deployed around the world using standard research and commercial reactors, thereby eliminating the need for special purpose reactors.
This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: the new process is expected to resolve current supply chain and reliability issues; obtaining regulatory approvals; establishing and securing partnership; and benefit from Mr. Belcher's expertise. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to produce and market our new technology; U.S. and foreign governmental laws and regulations adopted from time to time; inability to raise necessary capital for Perma-Fix Medical; validity of our patents or patent applications in connection with this new technology. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.
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