PFMEDICAL - Perma-Fix Medical Provides Business Update (24/2014) /EBI

| | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | NEW CONNECT | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | Raport EBI nr | 24 | / | 2014 | | | | |
| | | | | | | | | | | | |
| | Data sporządzenia: | 2014-05-22 | | | | | | | | | |
| | | | | | | | | | | | |
| | Skrócona nazwa emitenta | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Temat | | | | | | | | | | |
| | Perma-Fix Medical Provides Business Update | | | | | | | | | | |
| | Podstawa prawna | | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |
| | Treść raportu: | | | | | | | | | | |
| | Warsaw - May 22, 2014 - Perma-Fix Medical S.A. (WAR: PFM), a subsidiary of Perma-Fix Environmental Services, Inc., a NASDAQ listed company, today provided a general business update. The Company also announced it will host a business update call at 2:30 PM Central European time on Friday, May 23, 2014 via webcast on the company\'s website: www.medical-isotope.com. Dr. Louis F. Centofanti, future CEO of Perma-Fix Medical S.A., commented, “We have made significant progress in validating our medical isotope technology, which we believe has the potential to reshape the global supply chain of Tc-99m in the United States and around the world. Recently, we announced the validation of our technology through tests conducted at POLATOM in Warsaw and the MURR reactor in the U.S. The tests at POLATOM demonstrated our system is able to produce Technetium-99m (“Tc-99m\") in commercial quantities, while meeting existing purity standards. The second set of tests at the Missouri University Research Reactor in Columbia,
Missouri reinforced the POLATOM results, and demonstrated higher elution efficiencies. Our process will also help reduce environmental concerns associated with the current production methodology, including issues around reprocessing of materials and production of high level waste requiring permanent disposal.\" Dr. Centofanti continued, “We have witnessed a growing interest in our technology from within the industry to commercialize our technology since our process can meet global market needs for Tc-99m without the use of weapons grade uranium. We believe our new process is a less expensive process and can be performed in most standard research reactors, which should help solve concerns regarding supply shortages of Tc-99m around the world. Furthermore, our process does not utilize Highly Enriched Uranium (HEU) or Low Enriched Uranium (LEU) targets, which are frequently cited as proliferation risks. We are in active discussions to establish strategic partnerships and we plan to file for FDA and CE approval
before year end.\" By way of background, Tc-99m is the most widely used medical isotope in the world. It allows medical practitioners to image internal body organs and is used in 80-85% of the 25 million diagnostic nuclear medical procedures each year in the U.S. alone. Common procedures include: cardiac imaging; cancer detection bone scans; gastrointestinal issues; and imaging of the brain, kidney, spleen and infections. The radioisotope market in Europe alone is expected to reach $1.6 billion in 2017, up from $1.1 billion in 2012. Nearly all of the world\'s supply of Tc-99m comes from the thermal fission of highly enriched uranium (HEU) targets in a small number of highly specialized reactors. The current process is costly and has proven an unreliable source of radioactive material leading to severe worldwide shortages. The scheduled closure of the NRU reactor in 2016 and the OSIRIS reactor in France in 2018 are expected to have a further impact on the manufacturing and supply of these isotopes. The
current process also raises serious proliferation concerns related to the threat associated with international production, transportation and/or use of HEU in the production of medical isotopes. Perma-Fix\'s technology has the potential to overcome these issues by using neutron capture to activate natural Molybdenum, a common metal, to produce Molybdenum-99 (“Mo-99\"), which decays into Tc-99m. Unlike conventional processes, the Perma-Fix Medical process can be produced locally using standard research and commercial reactors, thereby eliminating the need for special purpose reactors. The new process encompasses the full production cycle, from reactor to final medical supply, and should be easily deployable around the world To overcome past issues with neutron activation of Molybdenum, Perma-Fix has developed a specialized resin that is radiation resistant and holds large quantities of Molybdenum, but at the same time releases almost 90% of the Tc-99m as it forms from the decay of Mo-99. The resin, loaded
with the activated Mo-99, is placed in a Technetium generator and slowly washed with a saline solution. The eluent solution containing Tc-99m meets USP and EUP standards for Technetium. Dr. Centofanti concluded, “We look forward to completing our planned capital raise with European investors in the coming months. Following the financing, our plan is to apply for listing on the main board of the Warsaw Stock Exchange. We look forward to engaging in a very active investor relations program in Poland and Europe increase awareness of our breakthrough technology. Perma-Fix Environmental Servics, the parent company of Perma-Fix Medical will present at the first Global Energy and Resources Conference in Warsaw on June 2, 2014 on the trading floor of the Warsaw Stock Exchange. We look forward to meeting with investors to discuss both companies and answer any questions from investors regarding our new process to produce Tc-99m.\" The conference call can be accessed via a live Internet webcast on the Company\'s
website at www.medical-isotope.com. A webcast replay of the conference call will be accessible on the Company\'s website at www.medical-isotope.com for 90 days. About Perma-Fix Medical Perma-Fix Medical is a subsidiary of Perma-Fix Environmental Services, a NASDAQ listed company. It was formed to develop, obtain FDA and other regulatory approval and commercialize a new process to produce Technetium-99 (Tc-99m), the most widely used medical isotope in the world. The new process is expected to solve worldwide shortages of Tc-99m as it is less expensive, does not require the use of government-subsidized, weapons-grade materials and can be easily deployed around the world using standard research and commercial reactors, thereby eliminating the need for special purpose reactors. This press release contains “forward looking statements\" which are based largely on the Company\'s expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company\'s control.
Forward-looking statements generally are identifiable by use of the words such as “believe\", “expects\", “intends\", “anticipate\", “plans to\", “estimates\", “projects\", and similar expressions. Forward looking statements include, but are not limited to: has the potential to reshape the global supply chain of Tc-99m in the United States and around the world; our system; is able to produce Technetium-99m (“Tc-99m\") in commercial quantities, while meeting existing purity standards; our process will also help reduce environmental concerns associated with the current production methodology, including issues around reprocessing of materials and production of high level waste requiring permanent disposal; our process can meet global market needs for Tc-99m without the use of weapons grade uranium; we believe our new process is a less expensive process and can be performed in most standard research reactors, which should help solve concerns regarding supply shortages of Tc-99m around the world; we plan to file
for FDA and CE approval before year end; the scheduled closure of the NRU reactor in 2016 and the OSIRIS reactor in France in 2018 are expected to have a further impact on the manufacturing and supply of these isotopes; Perma-Fix\'s technology has the potential to overcome these issues; unlike conventional processes, the Perma-Fix Medical process can be produced locally using standard research and commercial reactors, thereby eliminating the need for special purpose reactors; the new process encompasses the full production cycle, from reactor to final medical supply, and should be easily deployable around the world; we look forward to completing our planned capital raise with European investors in the coming months; following the financing, our plan is to apply for listing on the main board of the Warsaw Stock Exchange; and we look forward to engaging in a very active investor relations program in Poland and Europe increase awareness of our breakthrough technology. These forward looking statements are
intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to produce and market our new technology; U.S. and foreign governmental laws and regulations adopted from time to time; inability to raise necessary capital for Perma-Fix Medical; validity of our patents or patent applications in connection with this new technology; and the additional factors referred to under \"Special Note Regarding Forward-Looking Statements\" of Perma-Fix Environmental Services\' 2013 Form 10-K and form 10-Q for the period ending March 31, 2014. The Company makes no
commitment to disclose any revisions to forward looking statements, or any facts, events or circumstances after the date hereof that bear upon forward looking statements. Please visit us on the World Wide Web at http://www.medical-isotope.com. Contacts: David K. Waldman Crescendo Communications, LLC Tel : +1-212-671-1021 Email : pfm@crescendo-ir.com | | | | | | | | | | |
| | | | | | | | | | | | |
| | Załączniki | | | | | | | | | | |
| | Plik | Opis | | | | | | | | | |
| | | | | | | | | | | | |
| | | | | | | | | | | | |

RAPORT BIEŻĄCY
MESSAGE (ENGLISH VERSION)
INFORMACJE O PODMIOCIE
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

RAPORT BIEŻĄCY
MESSAGE (ENGLISH VERSION)
INFORMACJE O PODMIOCIE
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

| | | | | | | | | | | | | | |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| | | | | | | (telefon) | (fax) | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | (NIP)
| (REGON) | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | (pełna nazwa emitenta) | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | (skrócona nazwa emitenta) | (sektor wg. klasyfikacji GPW w W-wie) | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | (ulica) | (numer) | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | (e-mail) | (www) | | | | | | |
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | |
| | | | | (kod pocztowy)
| (miejscowość) | | | | | | | | |
| | | | | | | | | | | | | | |

RAPORT BIEŻĄCY
MESSAGE (ENGLISH VERSION)
INFORMACJE O PODMIOCIE
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ

RAPORT BIEŻĄCY
MESSAGE (ENGLISH VERSION)
INFORMACJE O PODMIOCIE
PODPISY OSÓB REPREZENTUJĄCYCH SPÓŁKĘ