IDAHO FALLS, Idaho and MADISON, Wis., Sept. 4, 2024 /PRNewswire/ -- International Isotopes, Inc. (INIS) and Phantech Medical (Phantech) have entered into a joint venture agreement to form PhanQual, which will design, manufacture, and distribute long-lived calibration and reference sources for pre-clinical applications.
Phantech is a biomedical hardware company based in Madison, WI that serves the global medical imaging industry, with an emphasis on pre-clinical. Phantech is focused on serving the medical imaging community with innovative phantom technology to drive more accurate, streamlined and standardized quantitative and quality management procedures in medical imaging.
INIS, through RadQual, a wholly owned subsidiary, has been a leader in sealed source calibration and reference sources since 2001. RadQual designs & develops, manufactures and globally distributes sealed calibration and reference sources for medical applications, laboratory equipment, industrial, and research and scientific applications.
PhanQual will leverage INIS's and Phantech's technologies, facilities, experience, and global network to design, manufacture, and distribute sealed sources, including adapting Phantech's patented and cutting-edge fillable calibration source technology, into sealed source calibration devices to better serve the R&D and theranostics community. Additionally, RadQual will globally distribute Phantech's entire portfolio of fillable sources through RadQual's global network of distributors.
"With nearly three decades in nuclear medicine, the International Isotopes Inc. team has shown their commitment to serving the medical imaging community and improving healthcare, which aligns with our mission. In that time, INIS has built an expert team and a vast global network to manufacture and distribute radioactive devices, which made it an easy decision for Phantech to partner with INIS. Our philosophies and motivations for progressing and improving the accuracy in nuclear medicine imaging and theranostics get us excited about what will come from this partnership," said Justin Jeffery, Co-Founder and Head of R&D of Phantech. Benjamin Cox, PhD, Co-Founder and Head of Hardware Design of Phantech added that "INIS's expansive portfolio of radioisotopes coupled with their eagerness to innovate made them a logical partner to create sealed sources based on our novel preclinical geometries. Together, we will increase the availability and accessibility of these calibration sources to customers around the world."
Shahe Bagerdjian, President and CEO of International Isotopes added "The Phantech team have built a strong portfolio of next-generation fillable sources and their work and passion really caught our eye. Entering the pre-clinical space was the next step in making RadQual the global leader in all calibration and reference sources; it was only natural for us to partner with Phantech to launch the PhanQual series of nuclear medicine devices. We are well aligned with Justin and Ben on our goals to bring in additive manufacturing and artificial intelligence to create calibration devices which help enhance the work researchers are doing to save lives."
To learn more about PhanQual, please visit www.PhanQual.com or email Phanqual@radqual.com
About Phantech
Phantech, established in 2018, with headquarters in Madison, WI, USA, designs and manufacturers medical theranostic phantoms for PET, SPECT, CT, optical (FLI/BLI), MRI, radioluminescence, ultrasound, magnetic particle imaging, systemic targeted radionuclide therapy (TRT) and external beam radiation therapy (XRT). Recently, Phantech has partnered with Gremse-IT GmbH (Germany) to automate the analysis of Phantech's nuclear medicine phantoms, which includes the new PhanQual product line.
About International Isotopes Inc.
International Isotopes Inc. (INIS), established in 1995, with its headquarters in Idaho Falls, ID, USA, manufactures a wide range of radioisotope-focused products. INIS manufactures and supplies generic sodium iodide I-131 radiopharmaceutical drug product for hyperthyroidism and thyroid cancer. INIS manufactures and distributes a complete line of calibration and reference standards for nuclear pharmacies and SPECT/PET imaging systems as well as industrial calibration standards. The Company also manufactures Cobalt-60 sealed source products and provides contract manufacturing of various drug products as well as radioisotope API supply for 3rd party theranostics clients. INIS recently launched a manufacturing joint venture with Alpha Nuclides, to bring INIS and RadQual products into China via Radnostix China.
International Isotopes Inc. Safe Harbor Statement
Certain statements in this press release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements with respect to the Company's future growth expectations. Information contained in such forward-looking statements is based on current expectations and is subject to change. These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance, or achievements of International Isotopes Inc. to be materially different from any future results, performance or achievements of the Company expressed or implied by these forward-looking statements. Other factors, which could materially affect such forward-looking statements, can be found in the Company's filings with the Securities and Exchange Commission at www.sec.gov, including its Annual Report on Form 10-K for the year ended December 31, 2023. Investors, potential investors, and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are only made as of the date of this press release and International Isotopes, Inc. and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
FOR MORE INFORMATION ABOUT INIS, CONTACT:
David Drewitz
Creative Options Communications
Investor and Public Relations
david@creativeoptionscommunications.com
www.creativeoptionsmarketing.com
Phone: 972-814-5723
FOR MORE INFORMATION ABOUT PHANTECH, CONTACT:
Benjamin Cox
Cofounder, Head of Hardware Design
ben@phantechmedical.com
www.phantechmedical.com
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SOURCE International Isotopes Inc.
