RICHLAND, WA--(Marketwired - June 25, 2013) - IsoRay, Inc. (NYSE MKT: ISR), (http://www.Isoray.com) announced today that it has entered into an exclusive international distribution agreement with Aurora BioScience for the distribution and sale of IsoRay's complete product line in Australia and New Zealand. IsoRay is a medical technology company and innovator in seed brachytherapy and medical radioisotope applications for brain cancer, lung cancer, head and neck cancer, prostate cancer and gynecologic ("gyn") cancer.
Aurora BioScience is ideally suited to support IsoRay's products, which utilize the uniqueness of IsoRay's Cs-131 isotope to attack cancers in the prostate and other body sites, such as brain cancer, head and neck cancer, lung cancer and gyn cancers, while providing patients with a better quality of life than many competing treatments, in Australia and New Zealand. International distributor opportunities aid IsoRay in obtaining increasing recognition in the world marketplace for cancer treatments as more physicians and surgeons internationally are made aware of the power of Cesium through published studies.
IsoRay Chairman and CEO Dwight Babcock commented, "We are very optimistic about the growth in adoption of our expanding array of newly developed products and look to the international market to contribute in the future success of IsoRay. All of our products currently carry the CE Mark, making them eligible to be sold in 31 European nations following any local regulatory approvals and licenses that may be needed for the sale of our products. As we expand our distribution network into other countries, additional regulatory approvals will be required. Physicians and institutions throughout the US are continuing to report outstanding results in the use of our Cs-131 seeds for brain cancer, head and neck cancer, prostate cancer and lung cancers. Given this growing acceptance and interest, we remain committed to our strategic national and international marketing objectives and believe this will contribute to our long term success."
Aurora BioScience brings a senior management team with extensive experience in the healthcare field along with strengths in business development and radiopharmaceuticals, and a marketing group uniquely focused on neurosurgery and all oncology disciplines. The team at Aurora BioScience has relationships with the key clinicians in every major cancer center in Australia and New Zealand, and therefore we believe Aurora BioScience will be a great partner to advance IsoRay's products within this market once regulatory approvals are received.
IsoRay is actively bringing new brachytherapy applications to market in support of leading physicians throughout the world needing new and better solutions. The Company's continued investment in research and development focusing on Cs-131 efficacy for various cancers located throughout the body is expected to have a direct impact on its overall revenue growth with an expanding array of non-prostate cancer treatments. In addition, the increase in the size, quality and reorganization of IsoRay's sales organization in the US market has created the means to contact more facilities than ever before with the Company's new and novel treatment alternatives.
IsoRay, Inc., through its subsidiary, IsoRay Medical, Inc. is the sole producer of Cesium-131 brachytherapy seeds, and is expanding the use of brachytherapy options throughout the body Learn more about this innovative Richland, Washington company and explore the many benefits and uses of GliaSite® and Cesium-131 by visiting www.isoray.com. Join us on Facebook/Isoray. Follow us on Twitter@Isoray.
Safe Harbor Statement
Statements in this news release about IsoRay's future expectations, including: the advantages of our Cesium-131 seed, future demand for IsoRay's existing and planned products, whether regulatory approvals and licenses will be obtained or maintained in foreign countries, whether IsoRay will be able to continue to expand its base beyond prostate cancer, whether IsoRay will be able to generate sales in the U.S. and internationally, whether additional studies will be published with favorable outcomes from treatment with Cesium-131, whether IsoRay's sales and marketing and research and development efforts will contribute to growth, whether new products will be developed and if so whether they will be adopted by physicians, and all other statements in this release, other than historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). This statement is included for the express purpose of availing IsoRay, Inc. of the protections of the safe harbor provisions of the PSLRA. It is important to note that actual results and ultimate corporate actions could differ materially from those in such forward-looking statements based on such factors as physician acceptance, training and use of IsoRay's products, changing levels of demand for IsoRay's current and proposed future products, whether later studies and protocols support the findings of the initial studies, success of future research and development activities, patient results achieved when Cesium-131 is used for the treatment of cancers and malignant diseases beyond prostate cancer, IsoRay's ability to successfully manufacture, market and sell its products, whether distributors and institutions will receive all required state, federal and foreign regulatory approvals and licenses to sell and use IsoRay's products, IsoRay's ability to manufacture its products in sufficient quantities to meet demand within required delivery time periods while meeting its quality control standards, IsoRay's ability to enforce its intellectual property rights, changes in reimbursement rates, changes in laws and regulations applicable to our products, and other risks detailed from time to time in IsoRay's reports filed with the SEC.