INDIANAPOLIS--(BUSINESS WIRE)-- Positron Corporation (OTCBB:POSC), a leading molecular imaging company specializing in the field of nuclear cardiology, announced today it has completed development of its proprietary automated compounding and unit dose dispensing device, Cardio-Assist™, which will be installed in coming weeks at a functioning clinical site for final acceptance. The Company expects to commence commercial deployment during the first quarter of 2011.
“Today marks an important milestone for Positron - since acquiring Dose Shield in 2008, we’ve worked diligently to get this product to market with precision, speed and efficiency. We have successfully delivered on our pharmaceutical projects that have exceeded both internal and external development requirements as well as timing targets which is a true testament to the entire team. With our current product mix, the Attrius® PET scanner, Cardio-Assist™ and our state-of-the-art radiopharmaceutical manufacturing facility, we have positioned Positron to be a unique and true leader in the nuclear cardiology marketplace,” said Patrick G. Rooney, chief executive officer of Positron.
Commensurate with the Company’s acquisition of Dose Shield in June of 2008, Positron and Dose Shield set a 36-month timeline to reach its goals of developing an automated virtual nuclear pharmacy and a fully functional radiopharmaceutical manufacturing facility. These developmental milestones mark the completion of the Company’s objectives; approximately 7 months ahead of schedule. Mr. Zehner who joined the Company in the acquisition of Dose Shield has successfully executed the Company’s objectives per terms of his employment agreement; as such he has resigned as Positron’s COO and will continue to serve the Company as a pharmaceutical consultant.
About Positron: Positron is a molecular imaging company focused on Nuclear Cardiology. Positron utilizes its proprietary product line to provide unique solutions to the Nuclear Medicine community ranging from imaging to radiopharmaceutical distribution. Positron products include: the Attrius®, a PET imaging device; the Pulse®, a SPECT imaging device; the Nuclear Pharm-Assist®, an automated radiopharmaceutical distribution device; and the Tech-Assist™, a radiopharmaceutical injection shield. More information about Positron is available at www.positron.com.
Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance and may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
For further information please contact Positron Corporation at (317)576-0183.
CONTACT:
Positron Corporation
Patrick Rooney, (317)576-0183
KEYWORDS: United States North America Indiana
INDUSTRY KEYWORDS: Technology Other Technology Health Cardiology Clinical Trials Hospitals Medical Devices Pharmaceutical Radiology Research FDA Science
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