IBt, based in Seneffe, Belgium, and IsoRay, based in Richland, Wash., have signed a letter of intent to form a “Global Strategic Alliance” between the two groups.
The alliance will encompass both sales and marketing activities around the world and combine several research and development programs for new brachytherapy sources using polymer technology.
Additionally, the alliance will create a joint R &D program to develop a new I-125 seed associated with the polymer seed technology developed by IBt, who will lead this project.
The alliance effort will move forward upon the approval of the companies’ respective boards of directors. According to a statement, it is the intention of the parties to proceed as quickly as possible and to have definitive agreements in place by the end of October.