North American Scientific Completes Sale of Non-Therapeutic Product Line
Chatsworth, CA - September 8, 2008 - North American Scientific, Inc.
(Nasdaq: NASM) announced today that it has completed the previously announced sale of its Non-Therapeutic Product Line to Eckert & Ziegler Isotope Products, Inc.
"We have successfully closed this transaction in the expected time frame and we are now focused on the therapeutic areas of our business with our Prospera and ClearPath product lines for local radiation treatment for the prostate and breast cancer patient", said John Rush, President and CEO of North American Scientific. “The proceeds from the sale of this product line will provide the Company with important non-dilutive capital to invest in ongoing operations".
About North American Scientific
North American Scientific, operating under the name NAS Medical, is a leader in applying radiation therapy in the fight against cancer. Its innovative products provide physicians with tools for the treatment of various types of cancers. They include Prospera(r) brachytherapy seeds and SurTRAK(tm) needles and strands used primarily in the treatment of prostate cancer. In addition, the Company has been gaining clinical experience with its first generation ClearPath(tm) multi-channel catheter breast brachytherapy devices since 2007, and intends to launch the second generation devices in 2008. They are the only such devices approved for both high dose and continuous release, or low dose, radiation treatments. The devices are designed to provide flexible, precise dose conformance and an innovative delivery system that is intended to improve the delivery of brachytherapy for the treatment of
breast cancer. Please visit www.nasmedical.com for more information.
Statements included in this release that are not historical facts may be considered forward-looking statements that are subject to a variety of risks and uncertainties. There are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company including, but not limited to, the impact of competitive products and pricing, technological changes, changes in relationships with strategic partners and dependence upon strategic partners for the performance of critical activities under collaborative agreements, the ability of the Company to successfully directly market and sell its products, uncertainties relating to patent protection and regulatory approval, the stable supply of appropriate isotopes, research and development estimates, market opportunities, risks associated with strategic opportunities or acquisitions the Company may pursue and the risk factors included in the Company's filings with the Securities and Exchange Commission. Any forward-looking statements contained in this news release speak only as of the date of this release, and the Company undertakes no obligation to revise or update any forward-looking statements, whether as a result of new information, future results or otherwise.
