ASP Isotopes enters strategic relationship with PET Labs Pharmaceuticals

ASP Isotopes (ASPI) announced that it has entered into a strategic relationship with PET Labs for the production and distribution of medical isotopes. PET Labs is a South African radiopharmaceutical operations company dedicated to nuclear medicine and the science of radiopharmaceutical production. PET Labs focuses on the production of fluorinated radioisotopes and active pharmaceutical ingredients. PET Labs currently operates a single cyclotron in Pretoria, South Africa. As part of the relationship, the companies anticipate adding two new cyclotrons in South Africa – one in Pretoria and one in Cape Town. The two cyclotrons, which GE Healthcare (GEHC) will supply, are expected to be capable of addressing the medical radioisotope needs of South Africa, as well as certain neighboring countries. The cyclotrons are expected to be financed by third-party debt financing arrangements. The primary objective of the relationship is to expand into frontier markets where there is an undersupply of radioisotopes used in medical imaging.