RICHLAND, Wash.--(BUSINESS WIRE)--IsoRay Medical™, Inc., a subsidiary of IsoRay, Inc. (collectively IsoRay) (AMEX:ISR), announces the signing of a letter of intent between IsoRay and International Brachytherapy s.a. (IBt), a leading manufacturer and distributor of brachytherapy products based in Seneffe, Belgium, to form a global strategic alliance focusing on worldwide market expansion of brachytherapy solutions in the treatment of prostate cancer and other malignant tissue cancers.