Molecular imaging developer Positron has signed a binding letter of intent to purchase Manhattan Isotope Technology in a deal that will mark the firm's entry into the radioisotope market.
The acquisition will allow Positron to become a full PET provider by securing the supply channel for strontium-82 (Sr-82), according to the vendor. Based in Lubbock, TX, Manhattan Isotope has the capacity to provide services for refurbishing spent Sr-82/rubidium-82 generators and also recycling Sr-82 using patented methods, Positron said.
Manhattan Isotope will focus on increasing the active pharmaceutical ingredient (API) Sr-82 supply through recycling Sr-82 from spent generators and producing Sr-82 from foreign suppliers, according to Positron.
The transaction is scheduled to close on January 2, 2012, after final transaction documents are executed. Terms of the deal were not disclosed.
