ASP Isotopes Inc. (NASDAQ:ASPI) ("ASPI", the "Company", "us", "we"
or "our"), an advanced materials company dedicated to the
development of technology and processes designed to produce
isotopes for use in multiple industries, today announced that it
has entered into a strategic relationship with PET Labs for the
production and distribution of medical isotopes.
PET Labs is a South African radiopharmaceutical
operations company dedicated to nuclear medicine and the science of
radiopharmaceutical production. PET Labs focuses on the production
of fluorinated radioisotopes and active pharmaceutical ingredients.
PET Labs currently operates a single cyclotron in Pretoria, South
Africa.
As part of the relationship, the companies
anticipate adding two new cyclotrons in South Africa – one in
Pretoria and one in Cape Town. The two cyclotrons, which GE
Healthcare will supply, are expected to be capable of addressing
the medical radioisotope needs of South Africa, as well as certain
neighboring countries. The cyclotrons are expected to be financed
by third-party debt financing arrangements. The primary objective
of the relationship is to expand into frontier markets where there
is an undersupply of radioisotopes used in medical imaging.
Paul Mann, Chairman and CEO of ASP Isotopes Inc.
stated, “This strategic relationship with PET Labs will help both
companies grow over the next several years, ensuring a stable
supply of PET and SPECT radioisotopes to the Southern African and
developing world markets.”
Dr. Kemp, CEO of PET Labs, added, “The technical advancements of
PET imaging in various diagnostics applications and the rising
demand for the production of new PET radiopharmaceuticals are
expected to drive market growth. The increasing shift towards
image-guided interventions is further propelling the growth of the
PET scanning market globally.”
Sophie Le Cordeur, Field Marketing Manager, EMEA-Emerging
Markets of GE Healthcare, stated, “There is a clear need for
additional radioisotope production capability in Sub-Saharan Africa
and we look forward to working with ASP Isotopes and PET Labs to
bring new treatments to patients in frontier markets.”
DLA Piper in South Africa advised ASP Isotopes on all legal
aspects of the transaction, including corporate, exchange control,
and regulatory advice required.
About ASP Isotopes Inc.
ASP Isotopes Inc. is an advanced materials
company dedicated to developing technology and processes to produce
isotopes in multiple industries. The Company employs proprietary
technology, the Aerodynamic Separation Process (“ASP technology”),
for the production of all isotopes. The Company’s initial focus is
on producing and commercializing highly enriched isotopes for the
healthcare and technology industries. The Company also plans to
enrich isotopes for the nuclear energy sector. The Company has
isotope enrichment facilities in Pretoria, South Africa, dedicated
to the enrichment of isotopes of elements with a low atomic mass
(light isotopes).
There is a growing demand for isotopes such as
Silicon-28, which will enable quantum computing, and
Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and
Nickel-64 for new, emerging healthcare applications, as well as
Chlorine-37, Lithium-6, and Uranium-235 for green energy
applications. The ASP Technology (Aerodynamic Separation Process)
is ideal for enriching low and heavy atomic mass molecules. For
more information, please visit www.aspisotopes.com.
About PET Labs (Pty) Ltd.
PET Labs is a South African radiopharmaceutical
operations company, dedicated to nuclear medicine and the science
of radiopharmaceutical production. We are committed to offer a
unique suite of solutions addressing the challenges facing nuclear
medicine. We have a customer-centric approach to the specific
operational needs of our customers. Our commitment extends to the
communities we serve. We strive to be the partner of choice in
providing radiopharmaceutical solutions to the nuclear medicine
market. For more information, please visit www.petlabs.co.za.
Forward Looking Statements
This press release contains “forward-looking
statements” within the meaning of the safe harbor provisions of the
U.S. Private Securities Litigation Reform Act of 1995, including,
without limitation, statements relating to the supply of new
cyclotrons and the availability of debt financing, the supply of
radioisotopes for medical imaging in South Africa and neighbouring
countries, and the potential penetration and expansion in these
markets. Forward-looking statements are neither historical facts
nor assurances of future performance. Instead, they are based only
on our current beliefs, expectations, and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy, and other future
conditions. Forward-looking statements can be identified by words
such as “believes,” “plans,” “anticipates,” “expects,” “estimates,”
“projects,” “will,” “may,” “might,” and words of a similar nature.
Examples of forward-looking statements include, among others but
are not limited to, statements we make regarding expected operating
results, such as future revenues and prospects from the potential
commercialization of isotopes, future performance under contracts,
and our strategies for product development, engaging with potential
customers, market position, and financial results. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks, and changes in circumstances that
are difficult to predict, many of which are outside our control.
Our actual results, financial condition, and events may differ
materially from those indicated in the forward-looking statements
based upon a number of factors. Forward-looking statements are not
a guarantee of future performance or developments. You are strongly
cautioned that reliance on any forward-looking statements involves
known and unknown risks and uncertainties. Therefore, you should
not rely on any of these forward-looking statements. There are many
important factors that could cause our actual results and financial
condition to differ materially from those indicated in the
forward-looking statements, including: our reliance on the efforts
of third parties; our ability to complete the construction and
commissioning of our enrichment plants or to commercialize isotopes
using the ASP technology or the Quantum Enrichment Process; our
ability to obtain regulatory approvals for the production and
distribution of isotopes; the financial terms of any current and
future commercial arrangements; our ability to complete certain
transactions and realize anticipated benefits from acquisitions;
contracts, dependence on our Intellectual Property (IP) rights,
certain IP rights of third parties; and the competitive nature of
our industry. Any forward-looking statement made by us in this
press release is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise. This press release includes market and industry data and
forecasts that we obtained from internal research, publicly
available information and industry publications and surveys.
Industry publications and surveys generally state that the
information contained therein has been obtained from sources
believed to be reliable. Unless otherwise noted, statements as to
our potential market position relative to other companies are
approximated and based on third-party data and internal analysis
and estimates as of the date of this press release. We have not
independently verified this information, and it could prove
inaccurate. Industry and market data could be wrong because of the
method by which sources obtained their data and because information
cannot always be verified with certainty due to the limits on the
availability and reliability of raw data, the voluntary nature of
the data-gathering process and other limitations and uncertainties.
In addition, we do not know all of the assumptions regarding
general economic conditions or growth that were used in preparing
the information and forecasts from sources cited herein. No
information in this press release should be interpreted as an
indication of future success, revenues, results of operation, or
stock price. All forward-looking statements herein are qualified by
reference to the cautionary statements set forth herein and should
not be relied upon.
Contacts
Jason Assad– Investor relationsEmail:
Jassad@aspisotopes.comTelephone: 561-709-3043
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