IsoRay, IBt notch technology agreement

Jan 2, 2006

Medical isotope developer IsoRay Medical of Richland, WA, has signed a letter of intent for a technology licensing agreement covering access to International Brachytherapy's (IBt) proprietary polymer seed technology for use with cesium-131 in brachytherapy.

IsoRay currently manufactures Cs-131 seeds using titanium seed technology. The rights granted under the exclusive agreement will allow IsoRay to use Belgium-based IBt's polymer seed technology, combined with IsoRay's Cs-131 technology, throughout North America.

In exchange for these rights, IsoRay said it will make a series of payments spread over 2006 as a license fee and will pay a royalty on sales of products based on IBt's technology throughout the 15-year license term.

The polymer seed technology is currently used for the manufacture of seeds containing the therapeutic isotopes iodine-125 and palladium-103, which are used primarily to treat prostate cancer.

By AuntMinnie.com staff writers
January 3, 2006

IsoRay opens new production facility, November 3, 2005

IsoRay raises $10 million, June 28, 2005

IsoRay implants first cesium-131 seed, October 27, 2004

IsoRay inks deal with PNNL and U.S. DOE, May 11, 2004

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