Total contract signed for eight systems
Six others to be delivered over the coming years
Louvain-La-Neuve, Belgium, March 29th, 2019 - IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces its division IBA Industrial, part of the Other Accelerators business of IBA and the world’s leading provider of high power and high energy Electron beam and X-ray solutions, has received down payments for two Rhodotron® TT300 HE electron beam accelerators from NorthStar Medical Radioisotopes.
The typical consideration for a Rhodotron® TT300 HE is approximately EUR 6 million per machine. The two machines will be delivered to a planned 10,000 square foot facility in Beloit, WI, USA and will be in operation in 2021. The remaining six systems will be delivered over the coming years.
NorthStar will use the Rhodotron® TT300 HE electron accelerators for U.S. production of the radioisotope molybdenum-99 (Mo-99), which in turn is used to produce the important diagnostic imaging radioisotope technetium-99m (Tc-99m).
The Tc-99m radioisotope and Tc-99m-based radiopharmaceuticals are the most common radioisotopes used to diagnose and stage heart disease, cancer, infection, inflammation and other conditions.
Olivier Legrain, Chief Executive Officer of IBA commented: “We are delighted to sign this significant contract with NorthStar Medical Radioisotopes and thank them for the past and future years of collaboration. The Rhodotron® is the machine of choice to enable this type of advanced technology, with electrons helping to avoid shortages of the widely used radioisotope Mo-99. It also opens the opportunity to create new radiopharmaceuticals for diagnosis and/or treatment.”
Stephen Merrick, President and Chief Executive Officer of NorthStar commented: “We are very pleased to sign this contract with IBA for eight Rhodotron® accelerators. This initial order of two Rhodotron® accelerators marks further progress in achieving our vision to become a leading medical radioisotope production company. We anticipate that these accelerators will enable expanded production of non-uranium based radioisotopes for the United States. We thank the IBA teams involved in our Research & Development efforts over the past several years to reach this milestone and we look forward to further expanding our collaboration.”
***ENDS***
About IBA
IBA (Ion Beam Applications S.A.) is a global medical technology company focused on bringing integrated and innovative solutions for the diagnosis and treatment of cancer. The company is the worldwide technology leader in the field of proton therapy, considered to be the most advanced form of radiation therapy available today. IBA’s proton therapy solutions are flexible and adaptable, allowing customers to choose from universal full-scale proton therapy centers as well as compact, single room solutions. In addition, IBA also has a radiation dosimetry business and develops particle accelerators for the medical world and industry. Headquartered in Belgium and employing about 1,400 people worldwide, IBA has installed systems across the world.
IBA is listed on the pan-European stock exchange EURONEXT (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB). More information can be found at: www.iba-worldwide.com
About IBA Industrial
IBA Industrial is part of the Other Accelerators division of IBA (Ion Beam Application S.A.). IBA Industrial develops, installs and maintains solutions for customers in a wide range of markets and applications, including (but not exclusive to) Medical Device sterilization in E-beam and X-ray. These applications are supported by two types of accelerators, the Dynamitron® and the Rhodotron®.
About NorthStar Medical Radioisotopes, LLC (NorthStar)
NorthStar Medical Radioisotopes is a nuclear medicine technology company committed to providing the United States with reliable and environmentally friendly radioisotope supply solutions to meet the needs of patients and to advance clinical research. The Company’s first product is the RadioGenix® System, an innovative and flexible platform technology initially approved by the U.S. Food and Drug Administration in February 2018 for the processing of non-uranium/non-highly enriched uranium based molybdenum-99 (Mo-99), the parent isotope of technetium-99m (Tc-99m), which is currently the most widely used diagnostic radioisotope for medical purposes. NorthStar’s proprietary and patented technologies include non-uranium based molybdenum-99 domestic production methods, patented separation chemistry systems, patented sterilization systems and a technology platform that potentially allows expanded product offerings to provide solutions in both the diagnostic and therapeutic markets. Founded in 2006 and based in Beloit, Wis., NorthStar Medical Radioisotopes, LLC is a wholly-owned subsidiary of NorthStar Medical Technologies, LLC. For more information, visit: www.northstarnm.com.
For further information, please contact:
IBA
Soumya Chandramouli
Chief Financial Officer
+32 10 475 890
Investorrelations@iba-group.com
Thomas Ralet
Vice-President Corporate Communication
+32 10 475 890
communication@iba-group.com
For NorthStar Medical Radioisotopes, LLC
Corporate:
Lisa Holst
Vice President Sales and Marketing
678-471-9027
lholst@northstarnm.com
Media:
Priscilla Harlan
781-799-7917
pharlan@shiningrockllc.com
For media and investor enquiries:
Consilium Strategic Communications
Jonathan Birt, Matthew Neal, Angela Gray, Lizzie Seeley
+44 (0) 20 3709 5700
IBA@consilium-comms.com
Attachment
