Project Title is Injectable Radiogels for High-Dose Therapy of Non-Resectable Solid Tumors
KENNEWICK, Wash., April 20, 2012 (GLOBE NEWSWIRE) — Advanced Medical Isotope Corporation (AMIC) is the commercialization partner for a $148,880 grant from the Life Sciences Discovery Fund, a Washington state agency established in May 2005 which makes grant investments in innovative life sciences research to benefit Washington and its citizens. Funding for commercialization grant awards comes from Washington’s allocation of payments under the Master Tobacco Settlement Agreement of 1998, revenues arising from multi-state litigation with tobacco product manufacturers.
Dr. Darrell Fisher at Batelle, Pacific Northwest Division, will test an innovative technology for delivering high-dose radiation to solid tumors that cannot be removed surgically. A key challenge in radiation therapy for cancer is achieving uniform, localized delivery of high doses without exceeding normal tissue tolerance. Dr. Fisher and his team are developing an injectable “radiogel” that provides controlled, high-dose delivery of Yttrium-90 to solid tumors that cannot be removed surgically. The product consists of a suspension of Yttrium-90 phosphate microspheres in a sterile solution, which is liquid at the time of injection surrounding normal tissues. Additional potential advantages to the radiogel technology include low-cost ingredients, ease of use, and safety for both patients and health-care workers. The radiogel technology could be used in the U.S and internationally to treat a variety of radiation-resistant solid cancers, including those of the liver, brain, head and neck, kidney, and pancreas.
In the proposed studies, clinicians from the University of Washington Department of Radiology will assess the technology’s biodistribution, radiation dose, homogeneity, activity in normal tissues, and ease of use in a preclinical tumor model.
CEO James C. Katzaroff states, “AMIC announced an exclusive license with Batelle earlier in April 2012 that included eight patents pertaining to the injectable radiogel. We believe utilizing the skill set of our in-house scientists, in conjunction with the outstanding personnel at Pacific Northwest National Laboratory, will foster outstanding results as the advantages of the Yttrium-90 radiogel line become fully defined and deployed.”
Advanced Medical Isotope Corporation is a U.S.-based public company engaged in the production and distribution of medical isotopes and in the development and identification of medical isotope technologies that are changing the practice of medicine and revolutionizing the standard of available medical care.
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Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to AMIC’s beliefs and expectations regarding the licensed patents. These statements involve current expectations and beliefs as to future events and other statements that are not historical facts. Known and unknown risks and uncertainties can affect the accuracy of forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, risks relating to product development, regulatory approval, sales and marketing, competition, risks relating to patents, and such other risks as are identified in AMIC’s annual report on Form 10-K with the U.S. Securities and Exchange Commission. These forward-looking statements apply only as of the date of this press release, and AMIC undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change AMIC’s expectations.
CONTACT: Advanced Medical Isotope Corporation
James C. Katzaroff
6208 W. Okanogan Ave.
Kennewick, Wa. 99336
Source: Globe Newswire (April 20, 2012 – 9:06 AM EDT)