LOS ANGELES, CA, Dec. 07, 2017 (GLOBE NEWSWIRE) -- US Nuclear Corp (OTCBB: UCLE) has signed a letter of intent with MIFTEC to become the exclusive contractor to manufacture medical isotope generators in the nuclear medicine market. MIFTEC’s parent company, MIFTI Nuclear Fusion, was recognized and awarded by the U.S. ARPA-E for their innovative approach and rapid progress towards fusion energy, which could provide a nearly limitless supply of clean, domestic power. MIFTI has shown that its Staged Z-Pinch fusion technique will produce high neutron flux, which in turn can be used to produce medical radioisotopes.
MIFTEC stated, “There is a terrible shortage of medical scanning isotopes. Millions of patients are unable to get the diagnostic scans and treatment they need due to the shortage and deteriorating sources of medical isotopes from Russia, Belgium, Canada, and South Africa.”
Currently, there are no suppliers in the USA.
MIFTEC’s breakthrough solution could solve this medical isotope shortage, and at a fraction of the cost. MIFTEC believes it can cut the current cost of producing radioisotopes by at least 50%, thereby allowing even greater access to individuals that need them.
US Nuclear Corp. is the exclusive manufacturer for these nuclear isotope generators.
- Global radioisotope production capacity is currently maxed out at $10 billion.
- Current global demand is significantly above $10 billion and is expected to reach $17 billion by 2021.
- Europe accounts for about 20% of the market, while North America is the dominant market for radioisotopes (45%). Currently there are no such manufacturers in the USA.
US Nuclear Corp. will also acquire a 10% interest in MIFTEC, and is working with BMA Securities to raise funds on a best efforts basis.