AMIC Update on IPP Project in Ukraine
12/27/2007
KENNEWICK, Wash., Dec. 27, 2007 (PRIME NEWSWIRE) -- Advanced Medical Isotope Corporation of Kennewick, Wash. (AMIC) (Pink Sheets:ADMD) anticipates imminent formal approval from the United States Industrial Coalition Inc. for a Global Initiatives for Proliferation Prevention (IPP) project. This project is to develop and commercialize the innovative Alternative Method for Producing Medical Isotopes (AMP-MI) technology. During the two-year project, a neutron machine technology for the production of select medical isotopes will be designed, tested, demonstrated, and expected to be brought to commercial production. This innovative isotope production method is based on the AMP-MI technology currently under development at the Kharkiv Institute of Physics and Technology in Ukraine for producing a high neutron flux combined with an advanced target design.
The overall results of the proposed AMP-MI technology development effort will be isotope production that is much more controlled and simplified, is less costly, and occupies less space (housing will be in a normal room size) as compared to a nuclear reactor production facility. An additional benefit is that the AMP-MI technology allows production of medical isotopes in close proximity to the location where they will be used for diagnostic or therapeutic purposes.
The AMP-MI technology will directly address the issue of inadequate U.S. production facilities and reliance on foreign suppliers of medical isotopes. U.S. dependence on foreign production was recently highlighted in news articles such as this one from The New York Times (December 6, 2007):
"Medical treatments are being delayed or deferred at hospitals worldwide because of the extended shutdown of a Canadian reactor ... "
"The reactor, the Atomic Energy of Canada reactor at Chalk River, Ontario, near Ottawa, is North America's only source of the base isotope for technetium-99, a workhorse of modern medical diagnostic systems. It is injected into patients 20 million times a year in the United States to create images used in the diagnosis and treatment of a wide variety of illnesses including heart ailments, cancers and gallbladder problems."
"The shortfall has renewed decades-old calls for the United States to develop its own medical isotope reactors - (and develop machine based production capability adds Dr. Robert Schenter, AMIC's Chief Science Officer) - rather than continuing to rely on imported products from a limited number of producers."
The AMP-MI neutron machine technology is based on a reaction for generating neutrons that is unique and advantageous as compared to other neutron generating machines. The core technology advantage of the proposed approach is the design of the target (both target material and target configuration) for neutron generation and the production of neutrons primarily in the forward direction. Traditionally, a "thin" target, which thickness is equal to the length of run of deuteron in a target, is used. Conversely, AMP-MI employs a relatively thick target. The proposed target's shape is the same as the geometry of the spatial distribution of produced neutrons. Neutrons are produced primarily in the forward direction and the entire neutron output is therefore used more effectively. In such a design, the target is multifunctional; it serves as a target and also as neutron moderator and neutron scatterer. Neutron energy becomes suitable for isotope production after neutrons will have passed partially into the target. The samples for isotope production are placed in the holes made in the target at such distance as to maximize production of the desired isotope.
James C. Katzaroff, AMIC President says, "The AMP-MI technology offers a breakthrough in neutron generating technology that overcomes the radioactivity and short target life of "conventional" neutron machines for potential application to medical isotope production. The advantage of the proposed approach is the design of the target (both target material and target configuration) for neutron generation and the production of neutrons primarily in the forward direction. The neutron generating target does not become radioactive and when the product isotopes are removed is contact maintained. In addition the target material and design has an extremely long life as compared to conventional neutron generators."
Advanced Medical Isotope Corporation will benefit from this project by having developed a unique machine using a new low-cost method for producing medical isotopes. This technology will allow production of isotopes on a smaller scale and closer to the point of use than current reactor based production. This will give AMIC new products and increase product lines for current and new customers. AMIC is also expected to benefit from further collaboration with Ukrainian project institutes, principally Kharkiv Institute of Physics and Technology and the Ukrainian private company Gammatech Medisotopes. This collaboration is expected to lead to other commercial technologies and products of interest to AMIC. Chief Executive Officer, William J. Stokes states that "This is in concert with AMIC's goal to develop, manufacture, and market medical isotopes and compact systems used for production of medical isotopes.
About AMIC
Advanced Medical Isotope Corporation is engaged in the development of advanced production systems and processes for bringing previously unavailable medical isotopes to the market place and advancing systems for local product production. The field of nuclear medicine has routinely utilized radioisotopes in the diagnosis of disease while new processes are being pioneered for the targeted treatment of diseases such as cancer in preference to surgical techniques. Advanced Medical Isotopes Corporation products support the accessibility to these less invasive therapeutic processes by advancing systems for lower cost production and improving supply availability of medical isotopes to hospitals and clinical treatment centers. For more information, please visit www.isotopia.us
Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to the company's ability to drive technological developments and the acceptance and timing of product introductions, are forward-looking statements that are subject to risks and uncertainties, including but not limited to, timely developments and acceptance of new products, the impact of competitive products and pricing, the timely development and release of products by suppliers, and other risks.
CONTACT: Advanced Medical Isotope Corporation
James C. Katzaroff
(509) 736-4000
Fax: (509) 736-4007
