August 14, 2012 — Positron Corp. announced the transfer, consolidation and integration of its radiopharmaceutical operations from the Crown Point, Ind. facility to its Lubbock, Texas site.
With the acquisition of Manhattan Isotope Technology (MIT), Positron gained the expertise, knowledge and radioactive materials facilities to manage all of the company's radiopharmaceutical and radioisotope development, production, processing and distribution mission. Since the acquisition of MIT earlier this year, Positron has made significant developments in the production requirements of key positron emission tomography (PET) radiopharmaceutical products, making the integration of production and facilities to the Lubbock facilities most favorable and advantageous for the company.
MIT possesses the proper licenses, qualified staff, expertise, procedures and quality systems for all of Positron's pharmaceutical products. The transfer of all records, systems and equipment was completed in late July. The production of Indium Oxyquinoline will resume upon the modification of the company's current Texas radiation license to include Indium Oxine, with expected approval in August.
By locating all radioactive production to a single facility, Positron will simplify and improve regulatory compliance, radiation safety and quality procedures associated with the production of radioisotopes and radiopharmaceuticals. Additionally, the consolidation will significantly improve efficiencies, economics, and utilization throughout the company.
"With this consolidation, Positron can better realize the potential of our radiochemical and radiopharmaceutical segments. MIT will focus on key radioactive products allowing the company to accelerate and expand its offerings, while improving procedures and reducing operational costs. The integration and move to Lubbock will increase Positron's capabilities and further advance relationships with potential partners," said Patrick G. Rooney, CEO of Positron.
Positron is a molecular imaging healthcare company providing nuclear medicine technologies for the field of nuclear cardiology.
For more information: www.positron.com