Positron, Jubilant ink cardiac PET deal
Jubilant DraxImage, a Jubilant Life Sciences company, and Positron executed a letter of intent related to Positron's supply of active pharmaceutical ingredient grade strontium-82 (Sr-82) for Jubilant's Sr-82/rubidium-82 (Rb-82) generator; the co-promotion of Jubilant's Sr-82/Rb-82 generators to end-users (upon FDA clearance); and Positron's lifecycle management for expired Jubilant's Sr-82/Rb-82 generators.

The alliance between Jubilant of Kirkland, Québec, and Positron of Fishers, Ind., will seek to increase the supply of radioisotopes and radiopharmaceuticals. In the agreement, Positron will seek to secure a generator supply for future sales of cardiac PET scanners and a customer for Sr-82, while Jubilant will seek to secure a "reliable supply" of Sr-82, a vendor for expired generators management, and a strategic partner with a customer base of cardiac PET scanners installed and serviced, according to a joint release.

Jubilant and Positron expect to complete a definitive agreement within three months.