Core Oncology Acquires Brachytherapy Business.
Founded in 1992, Mills Biopharmaceuticals, LLC of Oklahoma City, Okla., is the third largest domestic supplier of Iodine 125 and Palladium Pd-103 seeds for low dose prostate brachytherapy treatment. ProstaSeed([R]) has been commercially available since April of 1999 and is both CE marked and manufactured at ISO 9001:2000 standards. In early 2003 the company was acquired by Mentor Corporation. In June 2006 Coloplast acquired Mills Biopharmaceuticals as part of the urology portfolio from Mentor.
Travis Gay, President and CEO of Core Oncology, stated, "We have a leadership position today in the growing prostate brachytherapy market and look forward to building sales around the world as we continue to expand this product line and focus on the growing radiation therapy market. Through this acquisition, we now have the most advanced brachytherapy manufacturing plant in the industry, the lowest cost of assets, and a loyal base of customers at the leading-edge of therapy in this arena."
Core Oncology was formed by the senior management of the existing brachytherapy business and Compass Capital (based near Seattle, Washington) for the purpose of acquiring the brachytherapy business from Coloplast. Compass negotiated the purchase, helped to develop Core's strategic business plan and model, and facilitated the necessary capital. Compass will continue to provide Core with advisory and management services going forward.
Core Oncology develops and manufactures specialized medical products, which it markets throughout the world. This release contains, in addition to historical information, forward-looking statements. Such statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements.
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|Date:||Jun 12, 2007|
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