Symbol: OTCBB: POSC
Positron is a nuclear medicine healthcare company specializing in the business of cardiac Positron Emission Tomography (PET). Cardiac PET is the superior method in diagnostic nuclear imaging for the detection of coronary artery disease (CAD), a leading cause of death in the United States. Positron’s products and services empower healthcare providers to more accurately diagnose CAD and improve patient outcomes while practicing cost effective medicine.
Positron, a pioneer in nuclear cardiology for over 30 years, is establishing a unique position by vertically integrating the fragmented and limited supply environment that exists in the cardiac PET marketplace today. Positron’s approach is to provide nuclear cardiologists an end-to-end solution by offering award-winning imaging technology, clinical services, imaging agents and innovative financing packages conveniently from a single source. Positron's approach in securing the cardiac PET supply chain will bring substantial advantages in accelerating the adoption of this superior modality and growth of the nuclear cardiology industry.
Key Business Components
Positron's strategy of vertically integrating all key components is enabled through the following products, segments and services:
PET Imaging System and Services
The Attrius®, dedicated PET imaging system, is optimized for cardiology. Positron's Attrius provides customers with state-of-the-art imaging technology for the diagnosis, treatment and prevention of cardiovascular disease. The Attrius is the only dedicated PET scanner in the world and was awarded Frost & Sullivan's Most Innovative Medical Device of the Year in 2010, as "the ideal solution for cardiologists and hospitals looking to add high accuracy, cost effective imaging technology." Positron complements its technology by offering comprehensive world-class clinical, technical and service support through their PosiStar™ customer care plan.
Positron is the only commercial resource in the US with practical knowledge and experience in all stages of strontium-82 production and spent generator lifecycle management. Positron seeks to secure both the short & long term supply of radioisotopes used in cardiac PET imaging. The Company intends to increase the Sr82 supply through the production of Sr-82 from domestic & foreign suppliers and recycling of Sr-82 from spent generators. In our pursuit of securing a North American supply of radioisotopes used in cardiac PET imaging, Positron plans to build and operate a production dedicated high energy/high current cyclotron (70MeV) within the U.S. The 70 MeV cyclotron will be at the heart of providing a reliable, dependable, indigenous supply of radioisotopes in the US thereby stabilizing and building confidence in the PET market and nuclear medicine community overall. Securing a reliable supply of radioisotopes will increase the demand for pharmaceuticals, imaging equipment and services.
Positron will provide customers with a variety of financing solutions for its full solutions model designed to minimize any barriers to entry, thus accelerating the expansion of cardiac PET and further securing Positron's current and future position in the market.
Positron is redefining the nuclear imaging market by actively pursuing key initiatives that will ensure the growth of the industry and the longevity of the Company. One of these key initiatives involves lowering barriers that have been, or could later constrict the progress of technological advancements in nuclear cardiology. These barriers include: high cost of equipment, limited supplies of key radioisotopes, limited availability of radioactive waste management facilities, and overcoming an existing monopoly of centralized radiopharmacies in radiopharmaceutical distribution. Positron's vertically integrated solution allows the Company to aggressively address each of these factors in an effort to become the premier, full service provider in the nuclear imaging market.
Positron Corporation is a publicly listed company and files annual, quarterly, special reports, proxy statements and other information with the SEC. Shares of common stock of Positron Corporation are currently trading on the National Association of Securities Dealers, Inc.'s OTC Bulletin Board under the symbol POSC.OB.
Nuclear medicine helps in the diagnosis, management and prevention of patients with cardiovascular disease (CVD). Radiopharmaceuticals are injected into a patient to provide the most accurate, non-invasive test for identifying narrowed coronary arteries, mild cholesterol build-up or diffuse coronary vascular disease; conditions that are responsible for almost all heart attacks. Cardiovascular disease is the leading cause of death in the United States and constitutes 17% of overall national health expenditures (Forecasting the Future of Cardiovascular Disease in the United States, American Heart Association, 2011). Direct CVD costs are projected to increase from $273 billion in 2010 to $818 billion in 2030, and indirect costs (due to lost productivity) will rise from $172 billion in 2010 to $276 billion in 2030.
Positron Emission Tomography (PET)
PET is a more advanced and accurate technology. In cardiac perfusion imaging, PET scanners, in particular Positron's Attrius, have superior sensitivity and specificity compared to that of SPECT cameras. PET also produces less radiation exposure and is capable of performing quantitative measurements. Cardiac PET imaging has been shown to provide a 50% reduction in invasive coronary arteriography and coronary artery bypass grafting, leading to a 30% costs savings and excellent clinical outcomes compared to SPECT (M.E. Merhige, M.D., et al. Journal Nuclear Medicine 2007; 48: 1069-1076).
The cardiac PET equipment market is much smaller than SPECT but has seen significant annual growth, of 25-30%, during the last decade. For many years, a major constraint for this market has been the high cost of PET and PET/CT scanners for cardiac studies. Positron has managed to reduce the buyers' barrier to entry by bringing to market the Attrius; the only cardiac dedicated PET system in the world. All other manufacturers (GE, Philips, Siemens) offer PET/CT systems that have a comparable performance of cardiac studies but have a 200% to 300% higher price, in relation to the Attrius. These same PET/CT systems also possess attributes not optimized or conducive for cardiac imaging. In 2010 and 2011, Positron's share in sales of dedicated cardiac PET scanners was 14% and 17%, respectively.
Sales of the primary cardiac PET radiopharmaceutical, Rb-82, were estimated at approximately $70 million in 2010. Positron estimates sales to increase to over $200 million in 2015; however, projected revenue is directly correlated to the availability of Strontium-82 (Sr-82), a precursor to Rb-82. A limited supply of Sr-82 has and can compromise the growth rate of cardiac PET. Currently, the only supplier of Sr-82 in the United States is the US Department of Energy and the only FDA approved Rubidium-82 supplier in the world is Bracco Diagnostics. This single supplier environment is where Positron sees great opportunity and has focused its resources and efforts on acquiring assets necessary for the vertical integration of the complete value chain.
Positron has been working on several projects to secure the supply of Sr-82 and to enter the fast growing market of PET radiopharmaceuticals. The most significant project is a 70 MeV higher-energy cyclotron that can produce enough Sr-82 to supply Sr-82/Rb-82 generators to current and future Positron customers, optimally also supplying customers with the Attrius PET scanners. This is a capital intensive and long-term project that can eliminate a potential market-limiting factor in cardiac PET market growth.
Positron offers a full range of products and services geared for the nuclear cardiology PET community.
Attrius is the only FDA approved new dedicated PET scanner optimized for cardiac imaging.
The Attrius provides a robust, cardiac specific imaging software package designed to ensure effortless interpretation for today's most challenging clinical cases for nuclear cardiologists. This innovative software includes coronary artery overlay display, open architecture for new protocol development, customization and motion correction and the ability to monitor therapy. The Attrius is targeted for cardiac clinics and hospitals and is designed to meet the performance, budget and space constraints of the most demanding cardiologists. Attrius was named the "Most Innovative Device of 2010" by the renowned business research and consulting firm Frost & Sullivan.
// Multi-mode imaging for static, dynamic and gated acquisitions
// Axial FOV > 12.4cm
// 5 slices per traverse acquisition
// BGO crystal detectors
// Crystal dimensions: 8.5 x 9.8 x 30mm
// BirdsEye™ detector wobbling system for increased clinical quantification
// Built-in laser alignment system
// Quadrax™ control panels allow all directional scanner access & control
// Open architecture for new protocol development & customization
// Small footprint and price tag
// Integrated with the powerful all-new workstation
Positron achieved significant advancements with the Company's new state-of-the-art coronary flow reserve (CFR) software, developed in collaboration with the University of Texas. Positron expects to offer this software starting Q3 2012. The CFR software, a clear differentiator for PET imaging compared to SPECT, was developed by a leading cardiologist and industry luminary Dr. K. Lance Gould and is considered to be a key driver in the upcoming growth in cardiac PET.
Full Brochure: http://www.positron.com/wp-content/uploads/pdf/Attrius_Brochure.pdf
Positron offers a comprehensive world-class clinical, technical, and service, through the PosiStar customer care plan. PosiStar includes: 24/7 clinical and service support, uptime guarantees, remote access diagnostic/maintenance, physician interpretation training, billing training; nurse training, post-install physician over-reads, ICANL approval assistance, 6 months evaluation/assessment, industry luminary collaboration and more. PosiStar is an annual fee-based contract, typically for three to five years.
PosiRx is a radiopharmaceutical system that automates the elution, preparation, and dispensing processes for radiopharmaceutical agents used in SPECT imaging. It was created to simplify and control the procedures associated with compounding radiopharmaceuticals.
PosiRx integrates features that increase productivity while decreasing exposure and costs. Our system provides molecular imaging departments with 24/7 unit dose accessibility, combined with the reliability of an on-site supply. Additionally, PosiRx assists in compliance with all current USP-797 requirements for the production of unit dose radiopharmaceuticals.
PosiRx is the first system of its kind to offer a complete and comprehensive automated solution in Nuclear Medicine; creating a more efficient and economical alternative to the current pharmacy per dose model. A nuclear cardiology facility equipped with PosiRx has 24/7 unit dose accessibility with the reliability of an on-site supply eliminating the need for scheduled deliveries of unit doses from centralized radiopharmacies. A self-contained device, the PosiRx is compliant with U.S. Pharmacopoeia regulations. The USP 797 regulation governs any pharmacy that prepares "compounded sterile preparations". Positron's proprietary automated quality control module for the PosiRx system includes a patent pending method of testing Tc-99m compounds for radiochemical purity. PosiRx is targeted for cardiac clinics and hospitals with an average to high SPECT imaging volumes.
// Automated dose drawing and compounding
// Automated generator elution
// Simplification of USP-797 compliance
// ISO Class 5 environment
// Exposure control
// Operational efficiency & cost control
// On-site convenience
Isotope Production & Radiopharmaceuticals
Positron intends to build and operate a high-energy cyclotron facility to be used primarily for the production of medical isotopes for PET diagnostic imaging and radiotherapy. The proposed facility will be equipped with a 70MeV cyclotron and be unique in that it will be capable of producing isotopes that are not available, or very limited availability, from other commercial sources in the United States and the world. Positron intends to combine the cyclotron with a material processing facility, isotope target manufacturing, drug manufacturing and equipment-manufacturing expansion plans
Sr-82 is the primary isotope to be produced, currently in short supply throughout the world and only produced in the U.S. by the DOE National Laboratories. It is the policy of the DOE not to compete with the private sector, therefore can be compelled, via petition, to withdraw from the market when materials are reasonably available commercially. This policy may play an important role in the future availability of Sr-82 supply. Strontium is the parent isotope for producing Rb-82 in Sr82/Rb82 generators utilized in PET myocardial perfusion imaging.
Positron is the only commercial resource in the United States with practical knowledge and experience in all stages of Strontium-82 production. Its current facility in Lubbock, Texas, has the capacity to provide critical services necessary for the refurbishment of spent Strontium-82/Rubidium-82 generators and the recycling of Strontium-82 using patented methods. Over the past five years the explosive growth of PET imaging has driven a significant increase in the Sr-82/Rb-82 generator demand, creating an environment whereby the Sr-82 demand has begun to outpace supply. Positron intends to focus on increasing the Active Pharmaceutical Ingredient (API) Sr-82 supply through recycling Sr-82 from spent generators and production of Sr-82 from foreign suppliers. MIT also brings singular expertise in the production of many other radioisotopes, such as germanium-68, which have no commercial supply in the US besides the US government.
Positron provides a credible and viable radioisotope processing plan, access to existing domestic and foreign isotope supply, supply chain management, and radioactive waste solutions. Positron has the intellectual property, expertise and facilities needed to accelerate the Company's plans for securing the supply channel and becoming a leader in Sr-82 supply thereby offering a full PET solution for the nuclear cardiology industry.
PET is the future of nuclear cardiology. Positron is PET.
530 Oakmont Lane
Westmont, IL 60559
Company Website: http://www.positron.com
PosiRx Website: http://www.posirx.com
Sales Inquiries: email@example.com
Positron Official Blog: http://www.positron.com/?cat=17
Positron Official Headlines: http://www.positron.com/?cat=3
JUNE 1, 2014
A/S: 5B Shares
O/S: 3.7B Shares
Float: 551M Shares
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Forward Looking Statements
Statements in this document contain certain 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, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Positron Corporation to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Positron assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission.
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