LOUVAIN-LA-NEUVE, Belgium, Nov. 4, 2013 (GLOBE NEWSWIRE) -- IBA ( Ion Beam Applications S.A. ), the world's leading provider of proton therapy and radiopharmacy solutions, today announces it has signed a formal contract with Zevacor Molecular for the installation of its Cyclone ® 70 in the United States. This will be the first commercial 70 MeV Cyclotron dedicated to radiopharmaceuticals production in the country. The installation of the system is worth between $16 and 20 million to IBA. The project financing is fully secured. The Cyclone ® 70 Cyclotron is expected to be operational in the second half of 2016.
Olivier Legrain, Chief Executive Officer of IBA commented, "We are delighted to see Zevacor Molecular investing in our Cyclone ® 70 allowing to provide year round production of isotopes used in the diagnosis of cardiovascular diseases and other critical illnesses. Only IBA can provide the expertise and success with a 70 MeV high energy Cyclotron."
"IBA was selected for its technology and unique know-how in developing high energy 70 MeV Cyclotrons," said Zevacor Molecular Executive Vice President and Chief Operating Officer John Zehner. "We can rely on IBA's expertise to reach our objectives to supply the United States with medical isotopes for the diagnosis and treatment of critical illnesses by the end of 2016."
Zevacor Molecular is an independently owned US healthcare firm that manufactures and distributes PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) radiopharmaceuticals. Zevacor Molecular will introduce the first commercial medical 70 MeV Cyclotron in the United States in order to stabilize the domestic supply of medical isotopes needed to diagnose and treat critical illnesses. The IBA Cyclone ® 70 will have the ability to provide year round production of isotopes used mainly in the diagnosis of cardiovascular diseases. Although the project is focused on Strontium (Sr-82), which is the raw material for Rubidium (Rb-82) generators, it also opens up several research isotopes currently not widely available in the United States. More information about Zevacor Molecular on: http://www.zevacor.com/
Notes to Editors
About Cyclone ® 70
The Cyclone ® 70 is a high energy and high-current proton industrial cyclotron. It is derived from the first Cyclone ® 70XP multiparticles cyclotron developed by IBA and fully operational for radioisotope production and research in France (Arronax project, Nantes) since 2011.
For more info, please visit our website: http://www.iba-cyclotron-solutions.com/produc...cyclone-70
About IBA
IBA (Ion Beam Applications S.A.) is a cancer diagnostics and treatment equipment company, and the worldwide technology leader in the field of proton therapy, the most advanced form of radiotherapy available today.
The Company's primary expertise lies in the development of next generation proton therapy technologies that provide oncology care providers with premium quality services and equipment. IBA's proton therapy solutions are scalable and adaptable, offering universal full scale proton therapy centers as well as next generation compact, single room solutions. IBA also focuses on the development and supply of dosimetry solutions for Quality Assurance of medical equipment and increased patient safety as well as particle accelerators for medical and industrial applications.
Headquartered in Belgium and employing more than 1,200 people worldwide, IBA currently has installed systems across Europe and the US and is expanding into emerging markets. The Company is focused on building sustainable global growth for investors, providing solutions in the fight against cancer.
IBA is listed on the pan-European stock exchange EURONEXT. (IBA: Reuters IBAB.BR and Bloomberg IBAB.BB) and more information can be found at: www.iba-worldwide.com
IBA to Install 70 MeV Cyclotron in the USA: http://hugin.info/152677/R/1739804/584045.pdf
For more information please contact IBA Jean-Marc Bothy Chief Financial Officer Tel: +32 10 47 58 90 Thomas Ralet Vice-President Corporate Communication +32 10 47 58 90 For media and investor enquiries: Consilium Strategic Communications Amber Bielecka, Mary-Jane Elliott, Matthew Neal +44 (0) 207 920 2354 Zevacor Molecular Peter Webner VP Business and Clinical Development Tel : +1.866.364.4478
