Message #13 From:
NewsBot Date: July 10, 2006 06:04:00 AM
ISRY News IsoRay Medical, Inc.'s Cesium-131 Cancer Therapy Technology Receives R&D100 Award
RICHLAND, Wash.--(BUSINESS WIRE)--July 10, 2006--IsoRay Medical, Inc.'s (OTCBB:ISRY) patented Cesium-131 brachytherapy seed (TM) technology has been named one of the year's 100 most technologically significant products by R&D Magazine.
The R&D100 awards are given each year for new products that represent breakthroughs in technology. Preference is given to products that save lives, change people's lives for the better, or that clean up the environment.
Richland, WA-based IsoRay Medical collaborated with the Pacific Northwest National Laboratory (PNNL) over the past two years to take the technology from the research phase to commercial-scale production using PNNL's production facility. PNNL was named as co-developer on the R&D100 nomination and thus shares this year's award with IsoRay Medical.
In December 2005, IsoRay Medical launched its own production facility and gradually transitioned production from PNNL to its private, leased facility. This new facility has significantly greater production capacity.
"We're extremely proud to have received this prestigious award. This validates our belief that we have a superior product that will improve the lives of a great number of people. IsoRay Medical is providing patients and doctors with a new isotope for fighting prostate cancer and other malignancies that has significant advantages over the other brachytherapy isotopes," said IsoRay Medical Chairman and CEO Roger Girard.
The Cesium-131 isotope is currently being used in brachytherapy treatment for prostate cancer, which is the second leading cause of cancer deaths among men in the U.S. The Cesium-131 seed developed by IsoRay Medical offers a significantly shorter half-life, which results in faster delivery of therapeutic radiation compared to other types of seeds that are currently available. This is expected to kill the cancerous cells more rapidly and result in shorter duration of side effects compared to other treatments.
To date, more than 400 prostate cancer patients have been treated with IsoRay's proprietary Cesium-131 brachytherapy seeds. Currently, more than 50 medical centers across the United States are licensed to implant Cesium-131 seeds.
Although IsoRay's Cesium-131 seeds have been used exclusively for treatment of prostate cancer to date, the technology has received FDA 510(k) clearance for treatment of any malignant disease including cancers of the head and neck, brain, breast, prostate, and other organs. Treatment protocols for other cancers are planned as well as other means of delivering the isotope to the tumor.
About IsoRay
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc., is the sole producer of the Cesium-131 brachytherapy seed, used to treat prostate and other cancers. The Cesium-131 seed offers a significantly shorter half-life than the two other isotopes commonly used for brachytherapy, which results in a substantially faster delivery of therapeutic radiation, lower probability of cancer cell survival and reduction of the longevity of common brachytherapy side effects. IsoRay is based in Richland, Washington. More information is available about IsoRay at www.isoray.com.
Safe Harbor Statement
Statements in this news release about IsoRay's future expectations, including: the advantages of our Cesium-131 seed, future production capabilities, development of protocols for the use of our Cesium-131 seed to treat cancers other than prostate cancer, the level of market share our seed may attain, and all other statements in this release, other than historical facts, are forward-looking statements. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of our products, our ability to successfully manufacture, market and sell our products, our ability to manufacture our products in sufficient quantities to meet demand within required delivery time periods while meeting our quality control standards, and our ability to enforce our intellectual property rights, and other risks detailed from time to time in IsoRay's reports filed with the SEC.
