Perma-Fix (PESI)

[CrocHntr]

Sounds like Perma-Fix Medical is going to receive another grant to support it's tc99 process implementation. Maybe some needed good news after the $407k liability due to unpaid invoices (arbitration settlement related to Georgia explosion/fire) that came out earlier this month. (one time hit to Q4)

BRIEF-Perma-Fix Medical to receive funds for its Technetium generator development

Dec 29 Perma-Fix Medical SA :

* Said on Monday that it received an agreement with Poland's National Centre for Research and Development (NCRD) concerning implementation and financing of the company's project submitted under the prevention and treatment of diseases of affluence program - STRATEGMED

* The company's project concerns design and construction of a Technetium (99Mo/99mTc) generator for use of molybdenum (99Mo) in isotopic diagnostics

* The total value of the project is 13.3 million zlotys ($3.4 million) and consortium will receive funds from NCRD of 10.0 million zlotys

* Consortium comprises of Perma-Fix Medical SA, Poland's National Nuclear Research Center - Radioisotope Centre POLATOM, Institute of Biopolymers and Chemical Fibres, the University of Warsaw's Department of Nuclear Medicine and Institute of Organic Industry