North American Scientific Will Divest NOMOS Business and Focus Exclusively on Brachytherapy
03 Agosto 2007 - 2:00PM
Business Wire
North American Scientific, Inc. (Nasdaq:NASI) announced today that
it has decided to divest its NOMOS Radiation Oncology business. The
Company will renew its focus on the marketing and development of
innovative brachytherapy products for the treatment of cancer,
including Prospera� brachytherapy seeds and SurTRAK� needles and
strands used primarily in the treatment of prostate cancer. The
Company remains on track to commercialize its ClearPath�
multi-channel catheter breast brachytherapy devices in 2007. The
ClearPath products are the only devices approved for both high-dose
and continuous release, or low-dose, radiation treatments. The
devices are designed to provide flexible, precise dose conformance
and an innovative delivery system that is intended to offer a more
advanced form of brachytherapy for the treatment of breast cancer.
�The Company, with CIBC World Markets acting as our financial
advisor, has been working to formalize the final details of our
divestiture of the NOMOS business, and we will announce those
details when they are complete,� said John Rush, President and
Chief Executive Officer of North American Scientific. �In the
interim, NOMOS will continue to provide its high quality products
and services to customers. We expect the divestiture of the NOMOS
business to allow us to better utilize the Company�s financial
resources to benefit the marketing and development of innovative
brachytherapy products for the treatment of cancer.� About North
American Scientific North American Scientific is a leader in
radiation therapy products and services in the fight against
cancer. Its innovative products provide physicians with tools for
the treatment of various types of cancers. They include Prospera�
brachytherapy seeds and SurTRAK� needles and strands used primarily
in the treatment of prostate cancer. In addition the Company plans
to commercialize its ClearPath� multi-channel catheter breast
brachytherapy devices in 2007, which are the only devices approved
for both high dose and continuous release, or low dose, radiation
treatments. The devices are designed to provide flexible, precise
dose conformance and an innovative delivery system that is intended
to offer the more advanced form of brachytherapy for the treatment
of breast cancer. North American Scientific�s NOMOS� Radiation
Oncology Division provides external beam radiation therapy products
for Serial Tomotherapy Intensity Modulated Radiation Therapy (IMRT)
and Image-Guided Radiation Therapy (IGRT). Serial tomotherapy IMRT
allows an escalated radiation dose to be delivered to a tumor while
limiting exposure and damage to nearby healthy tissue. These
products are marketed under the trade names nomosSTAT�and CORVUS�
(our proprietary treatment planning software). The Company's IGRT
products, BAT�, BATCAM� and nTRAK�, provide fast and accurate
targeting and localization of a treatment volume on a daily basis.
More than 500 hospitals and research sites worldwide are equipped
with the Company's clinically proven serial tomotherapy, inverse
treatment planning, image-guidance and ancillary treatment
solutions. Please visit www.nasmedical.com for more information.
Statements included in this release that are not historical facts
may be considered forward-looking statements that are subject to a
variety of risks and uncertainties. There are a number of important
factors that could cause actual results to differ materially from
those expressed in any forward-looking statements made by the
Company including, but not limited to, the impact of competitive
products and pricing, technological changes, changes in
relationships with strategic partners and dependence upon strategic
partners for the performance of critical activities under
collaborative agreements, the ability of the Company to
successfully directly market and sell its products, uncertainties
relating to patent protection and regulatory approval, the stable
supply of appropriate isotopes, research and development estimates,
market opportunities, risks associated with strategic opportunities
or acquisitions the Company may pursue and the risk factors
included in the Company's filings with the Securities and Exchange
Commission. Any forward-looking statements contained in this news
release speak only as of the date of this release, and the Company
undertakes no obligation to revise or update any forward-looking
statements, whether as a result of new information, future results
or otherwise.
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