Perma-Fix Environmental Services announced that its Polish subsidiary, Perma-Fix Medical, has finalized its partnership with nuclear medicine firm Digirad regarding technetium-99m (Tc-99m).
Under the partnership, Digirad invested $1 million in Perma-Fix Medical, an amount that constitutes approximately 5.4% of the outstanding Perma-Fix common shares. Also, Digirad appointed Matt Molchan, president and CEO of Digirad, to Perma-Fix Medical's supervisory board.
Perma-Fix Medical is working to produce Tc-99m without the use of uranium. Once a new Tc-99m resin is completed, Digirad will purchase Tc-99m for its nuclear imaging operations either directly or in conjunction with its preferred nuclear pharmacy supplier. Perma-Fix Medical will supply Digirad or its nuclear pharmacy supplier with Tc-99m at a preferred rate.
