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Positron Corporation
Company typePublic
OTC Pink: POSC
IndustryNuclear Medicine
Founded(1983 (1983))
Headquarters
Westmont, Illinois
,
U.S.A
ProductsNuclear medical imaging devices
SubsidiariesPositron Isotopes Corporation
Manhattan Isotope Technology
Websitewww.positron.com
www.posirx.com

Positron Corporation is an American nuclear medicine healthcare company specializing in cardiac Positron Emission Tomography (PET) imaging.[1][2] Positron operates in a variety of business areas combining cardiac PET imaging technology, radiopharmaceuticals and radioisotopes.[3] Positron is headquartered in Westmont, Illinois and holds three facilities: a radioisotope manufacturing facility in Lubbock, Texas, a clinical and technical cardiovascular PET training institute in Niagara Falls, New York and an automation manufacturing facility in Fishers, Indiana.[4][5]

The company's products and services enable healthcare providers to diagnose cardiac disease and improve patient outcomes.[4][6] Positron Corporation is a public company and traded on the Financial Industry Regulatory Authority, Inc.'s OTC Bulletin Board under the ticker symbol POSC.[5][7]

History

Positron was originally founded in 1983 as a research and development company.[8][9] The company expanded from a medical imaging device manufacturer to a nuclear healthcare company integrating the key components of the cardiac PET supply chain.[8] Positron's strategy focuses on stabilizing and securing the Sr-82 supply chain.[10]

In January 2012, Positron acquired Manhattan Isotope Technology.[9] This subsidiary focuses on increasing Sr-82 supply by processing proton irradiated target material, recycling Sr-82 from spent generators, and through its pursuit of procuring a 70 MeV cyclotron.[4][5][11]

Company development

After its founding in 1983, Positron debuted a new time-of-flight tomograph called the POSICAM.[12] Posicam used barium fluoride for the scintillation detector and was primarily used by researchers interested in cardiac imaging.[12] In 1985, the FDA approved the POSICAM system for marketing and the following year, Positron began commercial operations.[10] The FDA later gave approval to Positron to begin marketing its HZ PET imaging system in 1991.[10] Positron received patents for aspects of its HZ and HZL POSICAM systems in 1993 along with FDA approval to market HZL.[13]

In 2005, Positron entered into a joint venture contract with Neusoft Medical Systems Co., Inc. of Shenyang, China for a jointly owned company to pursue the manufacturing of PET imaging equipment called Neusoft Positron Medical Systems Co. Ltd.[3][13] The following year, Positron acquired a manufacturer/developer of nuclear imaging devices called IS2 Medical Systems, Inc. based in Ontario, Canada.[14] Positron acquired DoseShield Corporation, a developer and manufacturer of automated radiopharmaceutical technology/systems in 2008.[15] In 2009, Positron and its partner Neusoft Medical Systems received FDA approval to sell and distribute their Attrius PET system.[16][17]

Positron acquired Manhattan Isotope Technology (MIT), a processor and manufacturer of radioisotopes based in Lubbock, TX, in 2012.[4][5][18] In 2013, Positron entered into a supply agreement with iThemba Labs for radioisotopes,[19] and later the same year, Positron entered into a licensing agreement for radiostrontium production technology with INR.[20]

Attrius

The Attrius is Positron's main cardiac PET system that the company provides in nuclear medicine that was launched in 2010.[3] The system uses software to monitor coronary artery overlay display and open architecture for new protocol development and customization and motion correction.[21][22] Other products include PosiRx, a system that simplifies and controls the procedures associated with the preparation and delivery of radiopharmaceuticals used in molecular imaging and PosiStar, Positron's customer care plan for Attrius.[5]

70 MeV Cyclotron Project

In April 2013, Positron's subsidiary, Positron Isotopes Corporation, began planning to build and operate the world’s first, high-energy/high-current, commercial 70 MeV cyclotron.[4][5] The cyclotron project enables Positron to be the only entity in the United States, other than the U.S. Department of Energy to supply certain isotopes critical to cardiac PET imaging.[4][5]

The company produces active pharmaceutical ingredient (API) grade Sr-82 at its Lubbock, Texas, facility from strontium received from foreign irradiated source suppliers.[4][5] Positron supplements strontium resources through supply agreements with all domestic and foreign irradiated source suppliers, requesting increases in production schedules from third party suppliers, and by recycling expired generators.[9]

Awards

  • Positron Corporation is the winner of the 2010 North American Molecular Imagine Systems New Product Innovation Award given by the research firm Frost & Sullivan.[5]
  • In 2012, the Federal Laboratory Consortium awarded Positron subsidiary Manhattan Isotope Technology (MIT) an Excellence in Energy Transfer award.[23]

See also

References

  1. ^ "Positron Corp". Morning Star. Retrieved 16 June 2014.
  2. ^ "Positron Corp. touts regulatory wins in U.S., U.K." Mass Device. 22 August 2012. Retrieved 16 June 2014.
  3. ^ a b c "Positron Corp - Initiating Coverage at Hold". Zacks. 9 September 2011. Retrieved 16 June 2014.
  4. ^ a b c d e f g "Positron Corp. (POSC) Positioned To Capitalize On Burgeoning PET Imaging Market". Seeking Alpha. 9 April 2013. Retrieved 16 June 2014.
  5. ^ a b c d e f g h i Nadia Ibanez. "Positron Brings Innovation and Efficiency to Nuclear Medicine". Business Review USA. Retrieved 16 June 2014.
  6. ^ Patrick G. Rooney (19 March 2012). "Positron Corporation". The Wall Street Transcript. Retrieved 16 June 2014.
  7. ^ Colorado Stark (24 March 2011). "Positron Corporation (OTC:POSC) Still Attracting Attention". Trader Planet. Retrieved 16 June 2014.
  8. ^ a b "Company". Retrieved 16 June 2014.
  9. ^ a b c "Form 10-K". U.S. Securities and Exchange Commission. 2012. Retrieved 16 June 2014.
  10. ^ a b c "Form 10-KSB". U.S. Securities and Exchange Commission. 2006. Retrieved 16 June 2014.
  11. ^ "Why PET will beat SPECT…". p. 22.
  12. ^ a b "The History PET Ronald Nutt, PhD" (PDF). ABT Molecular Imaging, Inc. Retrieved 16 June 2014.
  13. ^ a b "Form 10-KSB". U.S. Securities and Exchange Commission. 2006. Retrieved 16 June 2014.
  14. ^ "Positron buys gamma camera firm IS2". Aunt Minnie. 6 June 2006. Retrieved 16 June 2014.
  15. ^ "Positron acquires Dose Shield, forms new subsidiary". Houston Business Journal. 12 June 2008. Retrieved 16 June 2014.
  16. ^ "Positron's Attrius Scanner Product Line Gets FDA Approval". FDA News. Retrieved 16 June 2014.
  17. ^ Dan Harvey (May 2012). "Cardiology Focus". Radiology Today Magazine. Retrieved 16 June 2014.
  18. ^ Justine Varieur Cadet (17 January 2012). "Positron buys Manhattan Isotope for $3.5M". Molecular Imaging. Retrieved 16 June 2014.
  19. ^ "Positron, iThemba LABS Enter Into Radioisotope Supply Agreement". Imaging Technology News. 9 August 2013. Retrieved 16 June 2014.
  20. ^ "Positron signs deal with Russian academy". Aunt Minnie. 1 October 2013. Retrieved 16 June 2014.
  21. ^ "Form 10-K". U.S. Securities and Exchange Commission. 2012. Retrieved 16 June 2014.
  22. ^ Lisa Fratt (24 March 2011). "Inside the Transition to Flow-Based Patient Care". Cardiovascular Business. Retrieved 16 June 2014.
  23. ^ "FLC National Awards" (PDF). Federal Technologies and Industry. 2012. Retrieved 16 June 2014.

Further reading

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