Mentor to Acquire Prostate Seed Manufacturer.Business Editors SANTA BARBARA Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. , Calif.--(BUSINESS WIRE)--Nov. 4, 2002 Mentor Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MNTR) announced today that it has reached an agreement to acquire Mills Biopharmaceuticals, Inc., manufacturer of ProstaSeed(TM) Iodine 125 brachytherapy seeds for the treatment of prostate cancer prostate cancer, cancer originating in the prostate gland. Prostate cancer is the leading malignancy in men in the United States and is second only to lung cancer as a cause of cancer death in men. . Terms of the transaction were not disclosed and the acquisition will be completed in February 2003. Founded in 1992, Mills Biopharmaceuticals, Inc. of Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm , OK, is the third largest domestic supplier of Iodine 125 seeds for low dose prostate brachytherapy treatment. ProstaSeed(TM) has been commercially available since April of 1999 and is both CE marked and manufactured at ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001:2000 standards. The founder of the company, Dr. Stanley Mills, will continue as president of Mills Biopharmaceuticals. Dr. Mills stated, "With Mentor's distribution expertise and unique delivery technologies we can now offer the market a broad array of products to make prostate brachytherapy procedures more efficient while increasing radiation safety." The company will manufacture ProstaSeed(TM) Iodine 125 for distribution by Mentor after the expiration of the existing contract with North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Scientific, Inc. on January 31, 2003. Christopher J. Conway, President of Mentor, stated, "Vertical integration in the prostate brachytherapy market will give us the ability to not only better serve this market but ultimately combine our R&D efforts and look to move into other markets and applications within the global brachytherapy market. We have a leadership position today in the growing prostate brachytherapy market and we look forward to building sales around the world as we continue to expand this product line." Mentor Corporation 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. Factors that may cause such a difference include, but are not limited to, those described in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended March 31, 2002. |
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