IsoRay Announces Major International Distribution Agreement For GliaSite®
Inc. (Amex: ISR) announced today that it has entered into an
international distribution agreement with Karlheinz Goehl-Medizintechnik
Goehl for distribution in certain European markets of the
IsoRay, Inc. (Amex: ISR) announced today that it has entered into an international distribution agreement with Karlheinz Goehl-Medizintechnik Goehl for distribution in certain European markets of the GliaSite® radiation therapy system, the world's only FDA-cleared balloon catheter device used in the treatment of various brain cancers. The system’s balloon catheter is an innovative technology that allows physicians to treat more patients than ever before with brachytherapy or internal radiation therapy. Karlheinz Goehl-Medizintechnik Goehl, located in Germany, was previously the largest international distributor of the GliaSite® radiation therapy system. The GliaSite® system offers a number of advantages over other available brain cancer treatments. It targets a specified high dose of a liquid radiation source in the areas most likely to contain cancer after brain tumor removal and is less likely to damage healthy brain tissue. It helps minimize the possibility of the tumor recurring, which in turn impacts patient longevity. GliaSite® also provides patients with quality of life benefits because it eliminates the need for thirty to forty follow-up external radiation treatments. IsoRay CEO Dwight Babcock said the GliaSite® system represents another important step forward. "The GliaSite® system represents continued progress toward our goal of expanding the use of brachytherapy solutions to treat cancers throughout the entire body. This distribution agreement allows us to pursue the recapture of the $4-5 million in annual revenue previously generated by product sales when Hologic owned the device. It also represents an important development for brain cancer patients and their doctors in providing a crucial treatment option that delivers improved outcomes and quality of life," said Babcock. Karlheinz Goehl-Medizintechnik Goehl President Charly Goehl, commented, "In 2002, our company was the first to have patients treated with GliaSite® outside the U.S. We had great success in providing a safe, adjuvant and remarkably life-extending therapy for glioma patients whilst keeping their quality-of-life-index in the highest possible range, which was our main goal. We are awaiting the CE mark and then we will start to deliver the system to existing and new customers. Previous customers are very excited to have GliaSite® available again."