Perma-Fix Signs Option Agreement to License Technology for Use in Proprietary Process to Produce Medical Isotopes

Perma-Fix Environmental Services PESI today announced it has signed an exclusive option agreement with Battelle, which operates Pacific Northwest National Laboratory for the U.S. Department of Energy, to license technology from PNNL for use with Perma-Fix's proprietary process to safely and cost-effectively produce Molybdenum-99 (Mo-99), which is used to make Technetium 99m (Tc-99m).Tc-99m is the most widely used medical isotope in the world, and allows medical practitioners to image internal body organs. The option agreement follows the successful development of a proprietary manufacturing process for medical isotopes developed independently by Perma-Fix, as well as successful completion of a Cooperative Research and Development Agreement between Perma-Fix and PNNL. Perma-Fix has applied for patents covering various steps of the process and will incorporate PNNL's technology into its process.