IsoRay, Inc. (Amex: ISR) announced today that it has signed a distribution agreement with Oncura to distribute the I-125 brachytherapy seed, OncoSeed™.
Dwight Babcock, Chairman and CEO stated, “By adding I-125 seeds to our prostate product offering we can now be a full service provider to our customers. OncoSeed brings with it a substantial and well documented track record of efficacy. While we believe that Cesium-131 adds an important new dimension to brachytherapy for a variety of anatomic sites including prostate, we see strategic value in supporting our customers that have not yet converted all their practice to Cesium-131.”
Mr. Babcock added, “We believe the ability to offer I-125 seeds will allow us to expand our Cesium-131 sales through GPO contracts which require multiple sources from a single provider. Previously, by not having two sources, we have been excluded from bidding on large GPO contracts and offering Cesium-131. The ability to obtain GPO contracts should open up a large group of physicians who want to use our Cesium-131 brachytherapy seeds.”
OncoSeed, known by physicians as Model 6711, has been available since it was launched in 1993. It has the largest market share of any I-125 brachytherapy seed worldwide.
Mr. Babcock concluded, “This is an important step to support our physician partners and this agreement allows IsoRay to supply I-125 seeds to its Canadian partner, Inter V Medical, thus providing additional revenue and margins to IsoRay.”
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