NAS to enter brachytherapy marker market, extends loan agreement
North American Scientific (NAS) reported that it has entered into a new three-year distribution agreement with Carbon Medical Technologies to sell gold and carbon markers (fiducials) used by radiation oncologists during prostate cancer procedures.
The Chatsworth, Calif.-based NAS said it estimates that the sales opportunity for localization markers used by the radiation oncology community represents a $50 million market.
Under the terms of the agreement, NAS will market the Carbon Medical Technology’s gold and carbon fiducials under the PreciseMarC brand.
In other news, NAS said that it has extended the maturity date of a loan and security agreement with Silicon Valley Bank until Nov. 7. In addition, it has received forbearance from the bank for failing to comply with tangible net worth covenants in the original loan agreement, as well as consent to increase its subordinated debt facility from $750,000 to $1 million with Agility Capital.
The Chatsworth, Calif.-based NAS said it estimates that the sales opportunity for localization markers used by the radiation oncology community represents a $50 million market.
Under the terms of the agreement, NAS will market the Carbon Medical Technology’s gold and carbon fiducials under the PreciseMarC brand.
In other news, NAS said that it has extended the maturity date of a loan and security agreement with Silicon Valley Bank until Nov. 7. In addition, it has received forbearance from the bank for failing to comply with tangible net worth covenants in the original loan agreement, as well as consent to increase its subordinated debt facility from $750,000 to $1 million with Agility Capital.