KENNEWICK, Wash., Dec. 11, 2012 (GLOBE NEWSWIRE) -- Advanced Medical Isotope Corporation ("AMIC") (OTCBB:ADMD), a company engaged in the production and distribution of medical isotopes, is pleased to announce a recent strategic alliance with Safety by Design, PC, of Colorado, in collaboration with Colorado State University.
The strategic partnership was formed to develop medical isotope products that are in high demand and short supply in the Rocky Mountain Region while developing production processes and procedures to produce isotope products using the 1 megawatt TRIGA Reactor currently operating at the Denver Federal Center. This project site is ideally located geographically, minutes from Denver International Airport and two other General Aviation airports, making the site an optimal location regionally for the production and distribution of short-lived radionuclides.
The initial production will focus on a skin cancer product (Ho-166), then utilizing the same isotope, the partnership plans to develop products for the treatment of joint pain, liver cancer, and multiple myeloma.
James C. Katzaroff, Chairman and CEO of AMIC, said, "AMIC has been studying the Rocky Mountain Region for expansion for several years and we look forward to a successful partnership with Safety by Design."
Further, a long term goal for AMIC and Safety by Design is to create an isotope production roadmap for other TRIGA reactor facilities in the United States and expand the breadth of relevant chemical separation methods while evaluating health physics operational procedures for facilities with less sophisticated isotope handling capabilities. The partnership is also developing training materials and expertise that is necessary to prepare the next generation for future domestic isotope production.
"We are excited to team with AMIC on this tremendously important project to bring urgently needed radiopharmaceutical products to the medical community," stated Ken Pethe, President of Safety by Design, PC.
About Advanced Medical Isotope Corporation
Advanced Medical Isotope Corporation ("AMIC") (OTCBB:ADMD) is a U.S.-based public company engaged in the production and distribution of medical isotopes and in the development and identification of medical isotope technologies that are changing the practice of medicine and revolutionizing the standard of medical care. Please visit our website at www.isotopeworld.com.
The Advanced Medical Isotope Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5139
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933, including, but not limited to, statements related to AMIC's beliefs and expectations regarding its licensed as well as its owned patents. These statements involve current expectations and beliefs as to future events and other statements that are not historical facts. Known and unknown risks and uncertainties can affect the accuracy of forward-looking statements and cause actual results to differ materially from those anticipated by these forward-looking statements. Factors that could affect actual future events or results include, but are not limited to, risks relating to product development, regulatory approval, sales and marketing, and competition, risks relating to patents, and such other risks as are defined in AMIC's annual report filed by AMIC with the U.S. Securities and Exchange Commission. These forward-looking statements apply only as of the date of this press release, and AMIC undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change AMIC's expectations.
CONTACT: James C. Katzaroff, Chairman and CEO
6208 W. Okanogan Ave.
Kennewick, Wa. 99336
(509)-736-4000
