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NASI to divest imaging agent R&D

This article was originally published in The Gray Sheet

Executive Summary

North American Scientific, Inc. will prioritize intensity modulated radiation therapy (IMRT) and image guided radiation therapy (IGRT) oncology therapeutics by redirecting a portion of the $10 mil. annual savings that will result from a planned divestiture of its Theseus radiopharmaceutical R&D operation, the firm says. NASI bought Theseus for about $18.5 mil. in 2000; its primary product candidate is the Hynic-Annexin V nuclear imaging agent for determining early response to chemotherapy cancer treatment. Theseus operations and European Phase II lung cancer trials will be suspended Sept. 15 while awaiting sale. NASI expects to take a related $6 mil. charge. Brachytherapy seed maker NASI acquired IMRT/IGRT firm Nomos for about $56 mil. in May (1"The Gray Sheet" Nov. 3, 2003, p. 23)...

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