Advanced Medical Isotope Corporation (OTC PINK: ADMD) is a Richland, Washington-based late stage development company engaged primarily in the development of brachytherapy devices for therapeutic applications. ADMD's focus is on transitioning to full operations upon receipt, if any, of FDA clearance for its patented brachytherapy cancer products. Brachytherapy uses radiation to destroy cancerous tumors by placing a radioactive isotope inside or next to the treatment area.
Since late 2013, ADMD has focused its resources on developing a proposed line of brachytherapy products and on endeavoring to secure FDA clearance with respect to the initial proposed brachytherapy product. ADMD's proposed brachytherapy products incorporate patented technology developed for Battelle Memorial Institute (“Battelle”) at Pacific Northwest National Laboratory, a leading research institute for government and commercial customers. Battelle has granted ADMD an exclusive license to patents covering these developments for manufacturing, processing and applications for medical isotopes (the “Battelle License”).
A prominent team of radiochemists, scientists and engineers, collaborating with strategic partners, including national laboratories, universities and private corporations, lead ADMD’s development efforts. ADMD has been recognized as a leader in the development of new isotope technologies by local, state and federal agencies.
The Company’s overall objective is to empower physicians, medical researchers, and ultimately, patients, by providing them with essential radionuclides that, until now, have not been practical or economical to produce, in an effort to detect, manage, and cure human disease, and improve the lives of patients. The Company’s shorter-term objective is to obtain regulatory approval for its brachytherapy products and to then commercialize those products.