Theragenics Signs on Partner to Develop Isotope Markets.
ATLANTA--(BUSINESS WIRE)--June 12, 2002
Agreement With Trace Sciences Provides for Market
Development and Distribution of Stable (Non-radioactive) Isotopes
Theragenics Corporation(R) (NYSE: TGX), the Atlanta-based cancer treatment producer, today announced that it has entered into a Market Development and Distribution Agreement for stable isotopes with Trace Sciences International, Inc.
The Agreement provides a framework under which Trace Sciences will perform market development and limited sales activities for stable isotopes to be agreed upon by Theragenics(TM). Trace Sciences, based in Toronto, Canada, has marketed and distributed isotopes since 1988 and is the world's largest supplier of enriched stable metal isotopes.
This agreement was prompted by Theragenics' April announcement that it had successfully operated the Plasma Separation Process ("PSP") at its Oak Ridge, Tennessee, facility. The PSP represents a one-of-a-kind capability for the commercial production of large quantities of a wide range of enriched stable isotopes. Enriched stable isotopes are purified forms of material with current or potential applications in industries such as aerospace, fuel, energy, manufacturing, defense, medicine and diagnostics.
M. Christine Jacobs, Chairman, President and CEO of Theragenics, in commenting on this agreement, stated, "This partnership is one of many steps the Company plans to take in its diversification process. Trace Sciences is a global company and reaches many industries in several countries. Joining forces with Trace Sciences in an effort to initiate new product lines is a leap forward for Theragenics."
Darren Brown, President of Trace Sciences, commented, "Because of the limitations of other isotope enrichment techniques, many industrial applications for isotopes were thought to be unattainable. With its unique capabilities, the PSP creates significant opportunities for new isotope applications. We are looking forward to partnering with Theragenics to develop these exciting new opportunities."
Theragenics Corporation is the manufacturer of TheraSeed(R); a rice-sized device used in the treatment of localized prostate cancer with a one-time, minimally invasive procedure. Theragenics is the world's largest producer of palladium-103 and is also involved in research and development utilizing palladium-103 for the treatment of vascular disease, macular degeneration and other diseases, as well research and development centered around other isotopes and their usage. For additional information about the Company, call Theragenics' Investor Relations Department at 1-800-998-8479 or visit the Company's web site at www.theragenics.com. The Company's common stock is traded on the New York Stock Exchange under the symbol TGX.
Trace Sciences International, Inc., headquartered in Canada, is the world's largest supplier of enriched stable metal isotopes. Trace Sciences also has custom synthesis laboratory capabilities. Science, medicine, industry and research have relied on Trace Sciences for over ten years to supply their enriched isotope requirements. For additional information on Trace Sciences, call the company at 905-770-1100, or visit their Web site at www.isotopetrace.com.
This release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding the development of new markets and technologies; the capabilities of the PSP to produce enriched isotopes; opportunities for isotopes produced by Theragenics(TM); the identification and development of new markets and applications for isotopes; and Theragenics'(TM) plans and strategies for diversification. These forward looking statements are subject to certain risks, uncertainties, and factors which could cause actual results to differ materially from those anticipated, including, among other things: risks associated with market development activities; potential costs and delays associated with commencing commercial operations at the Oak Ridge facility; potential costs and delays in the refinement of technology and related equipment for commercial production; potential equipment failure; adverse changes in governmental program priorities and budgetary funding by the relevant governmental authorities; potential inability of the PSP to produce isotopes suited for a particular application; potential inability to produce selected isotopes at costs competitive to other options; risks associated with new product development cycles; and management of growth. All forward looking statements and cautionary statements included in this document are made as of the date hereby based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any forward looking statement or cautionary statement.
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|Date:||Jun 12, 2002|
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