IsoRay Medical, Inc. Announces New Russian Agreement

RICHLAND, Wash.--(BUSINESS WIRE)--IsoRay (AMEX:ISR), a manufacturer and distributor of its proprietary therapeutic, Proxcelan Cesium-131 brachytherapy seeds, for the treatment of prostate cancer and other solid tumors, announced today that it has become a 30% owner in a Russian limited liability company, UralDial, LLC, a new medical isotope manufacturing and distribution company based in Yekaterinburg. IsoRay Chairman and CEO Roger Girard said the creation of the new entity should significantly reduce manufacturing costs--in the U.S. as well as Russia--which should improve gross margins, assure a steady exclusive supply of isotopes from multiple Russian sources, and open new international markets for the company’s Proxcelan Cesium-131 brachytherapy seeds.