IBA SELLS FIRST TWO RHODOTRON® ACCELERATORS TO NORTHSTAR MEDICAL RADIOISOTOPES

Total contract signed for eight systems six others to be delivered over the coming years


Louvain-La-Neuve, Belgium, March 29th, 2019 - IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces its division IBA Industrial, part of the Other Accelerators business of IBA and the world’s leading provider of high power and high energy Electron beam and X-ray solutions, has received down payments for two Rhodotron® TT300 HE electron beam accelerators from NorthStar Medical Radioisotopes.

The typical consideration for a Rhodotron® TT300 HE is approximately EUR 6 million per machine. The two machines will be delivered to a planned 10,000 square foot facility in Beloit, WI, USA and will be in operation in 2021. The remaining six systems will be delivered over the coming years.

NorthStar will use the Rhodotron® TT300 HE electron accelerators for U.S. production of the radioisotope molybdenum-99 (Mo-99), which in turn is used to produce the important diagnostic imaging radioisotope technetium-99m (Tc-99m).

The Tc-99m radioisotope and Tc-99m-based radiopharmaceuticals are the most common radioisotopes used to diagnose and stage heart disease, cancer, infection, inflammation and other conditions.

Olivier Legrain, Chief Executive Officer of IBA commented: We are delighted to sign this significant contract with NorthStar Medical Radioisotopes and thank them for the past and future years of collaboration. The Rhodotron® is the machine of choice to enable this type of advanced technology, with electrons helping to avoid shortages of the widely used radioisotope Mo-99. It also opens the opportunity to create new radiopharmaceuticals for diagnosis and/or treatment.”

Stephen Merrick, President and Chief Executive Officer of NorthStar commented: “We are very pleased to sign this contract with IBA for eight Rhodotron® accelerators. This initial order of two Rhodotron® accelerators marks further progress in achieving our vision to become a leading medical radioisotope production company. We anticipate that these accelerators will enable expanded production of non-uranium based radioisotopes for the United States. We thank the IBA teams involved in our Research & Development efforts over the past several years to reach this milestone and we look forward to further expanding our collaboration.”