NorthStar Medical Technologies Signs Letter of Intent with Triad Isotopes To Bring New Domestic Source of Non-HEU Materials To Market
ST. LOUIS, MO - June 7, 2014 - Signaling progress in the drive to launch the first commercially-viable domestic source of non-HEU materials, NorthStar Medical Technologies, LLC today announced the signing of a non-exclusive Letter of Intent with Triad Isotopes, Inc. The agreement solidifies Triad’s position as an early adopter of domestically-sourced Non-HEU Molybdenum99 through NorthStar’s unique intelligent isotope separation systems, once that technology is approved by the FDA and commercially available.
NorthStar is developing a domestic source of non-uranium based (Non-HEU) Molybdenum99 to help alleviate chronic shortages of this vital medical isotope and to meet the goals of the Global Threat Reduction Initiative (GTRI). NorthStar has two methods of producing Non-HEU material, neither of which utilizes uranium target material yet only produces a benign waste stream. NorthStar Non-HEU material is for use in their Intelligent Isotope Separation System, the RadioGenix. RadioGenix technology represents the first true breakthrough in Mo99/Tc99m systems in nearly 45 years.
NorthStar’s President and CEO, George P. Messina stated: “Our goal since inception has been alleviating the chronic shortage of vital medical radioisotopes and ultimately improving patient care. This agreement with Triad Isotopes, Inc., one of America’s largest national radiopharmacy chains, is validation of that effort. They clearly understand the game-changing impact of our Non-Uranium (Non-HEU) process and its benign waste stream on the market. Triad showed early interest in our products and technology and helped us refine and improve the system on display here at the SNMMI in St. Louis. We look forward to continuing our work with them as NorthStar navigates the approval process.”
Triad Isotopes, Inc., the second largest radiopharmacy chain in the United States, operates sixty locations that provide customized unit dose service nationwide. Triad was the first radiopharmacy company to demonstrate interest in working with NorthStar to bring this opportunity to fruition. Triad has made key staff members and facilities available for testing, review and assessment of early versions of the technology.
“Understanding the national security significance of this effort, Triad Isotopes has worked closely with NorthStar to help test and review their efforts,” said Kerry Gillespie, President, Triad Isotopes, Inc. “We are optimistic about the potential of this new technology as a means to address the DOE mandate to establish a domestic source of Molybdenum-99 by 2016. NorthStar has been innovative and relentless in addressing that need.”
About NorthStar Medical Technologies, LLC
NorthStar Medical Radioisotopes, LLC was founded in 2006 to address the needs of the nuclear medicine market in the United States. The company is committed to resolving supply challenges which have plagued the industry and hamper production supply. Current shortages of vital medical isotopes are negatively impacting patient care and stalling clinical research. NorthStar's patented technologies include innovative non-uranium based molybdenum-99 production methods, a novel separation chemistry system, and tools for the nuclear medicine market. Learn more at www.northstarnm.com.
About Triad Isotopes, Inc.
Triad Isotopes, Inc. (www.TriadIsotopes.com) is a nationwide nuclear pharmacy company headquartered in Orlando, Fla. The company’s national network of over 60 locations serves four million patients each year, making Triad Isotopes the nation’s second-largest and fastest-growing radiopharmaceutical provider. Triad’s network of specialized facilities provide the products used by hospitals and nuclear medicine operators to help diagnose and treat patients, primarily those with cardiac and cancer concerns. For more information, visit at www.TriadIsotopes.com.