KENNEWICK, Wash., Nov. 18, 2010 (GLOBE NEWSWIRE) -- Advanced Medical Isotope Corporation ("AMIC") (Pink Sheets:ADMD), a company engaged in the production and distribution of medical isotopes, has added Bruce Ratchford to the Board of Directors. Mr. Ratchford is the founder, President and CEO of Apollo, based in Kennewick, Washington and is also a Founder and current board member of Kennewick based Community First Bank. Apollo is a mechanical and specialty contractor nationally rated in the top 25 for revenue by Engineering News-Record and has over 500 employees .
"I'm delighted to be elected to the Board of Directors of AMIC, and I will bring my general business expertise and knowledge to assist implementation of the aggressive growth strategy AMIC has outlined."
James C. Katzaroff, CEO of AMIC, stated, "Bruce is an outstanding addition to our Board and his insights and business acumen complements our future growth plans quite well."
Pursuant to the announcement from AMIC from October 15, 2009, the Company has recently received the $1,215,000 from the 2010 Energy and Water Development appropriations bill, with special thanks to Senator Patty Murray for her assistance in this effort. The grant funds will be applied to assist bringing to market AMIC's patented resorbable seed which provides controlled delivery of insoluble yttrium-90microspheres. AMIC anticipates this brachytherapy will represent a significant advance in internal radiation therapy. Radiation is an extremely potent weapon used to treat cancers, and brachytherapy is internal radiation therapy in which isotopes are used to kill cancer cells. Due to testing parameter circumstances, we are delayed in filing our 510k with the FDA for this medical device and anticipate a filing in the first half of 2011.
In addition, AMIC was awarded $488,958 under the IRS Qualifying Therapeutic Discovery Program (QTDP). $205,129 will be received in 2010 and $283,829 in February, 2011. The QTDP provides financial support for innovative projects that the U.S. Department of Health and Human Services believes could well result in a new therapy, reduce health care costs, or represent an important advance in finding a cure for cancer.
About Advanced Medical Isotope Corporation
Advanced Medical Isotope Corporation (AMIC) (Pink Sheets:ADMD) is a company engaged in the production and distribution of medical isotopes for advanced diagnostic and non-surgical therapeutic application. AMIC's goal is to empower physicians, medical researchers, and ultimately patients by providing them with essential medical isotopes that, until recently, have not been feasible or economical, in an effort to detect and cure human disease. For more information, please visit our website,
The Advanced Medical Isotope Corporation logo is available at
SAFE HARBOR The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may", "will", "should", "plans", "expects", "anticipates", "continue", "estimates", "projects", "intends", and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT: Advanced Medical Isotope Corporation James C. Katzaroff (509) 736-4000