News

04/03/2002
Press Release

Isonics Corporation Receives Major Order for Oxygen-18 With Demand Rapidly Increasing, Company is Positioned as a Worlds Leading Supplier for Tight Supply of Isotope Used By Medical Sector
GOLDEN, Colo.--(BUSINESS WIRE)--April 3, 2002-- Isonics Corporation (Nasdaq:ISON - news), a leader in the development of isotopically engineered semiconductor materials and a supplier of silicon-on-insulator wafers and isotopes for life sciences and health care applications, has announced that the company has entered into an agreement to supply Oxygen-18, a key raw material for Positron Emission Tomography (PET), to a new customer, receiving a $750,000 first order from that company. ``With an ever increasing capacity for Oxygen-18, Isonics, as the world's second largest supplier of this isotope, is prepared to satisfy the increasing demands of our existing customers, and is capable of supplying any new customers as they come aboard,'' said Dan Grady, Vice President of Life Sciences for Isonics Corporation. ``With the growing number of PET imaging procedures now being approved for reimbursement by insurance companies, we are seeing a solid increase in demand for our product. Based on long-term sales contracts, we expect our Oxygen-18 revenues to increase by about $2.5 million for the next fiscal year compared to our present fiscal year ending this month,'' he concluded. Oxygen-18 represents Isonics' single largest product line and is used in medical cyclotrons to produce the primary radioisotope currently used in PET. Due to its ability to identify and localize areas of high metabolic activity, PET has been demonstrated to be one of the most powerful tools in the fight against many types of new and recurrent cancers. The demand for Oxygen-18 continues to grow rapidly as the number of approved clinical procedures increase and insurance reimbursement treatment remains favorable. As the tight supply situation currently existing is likely to persist for the next several years, Isonics will continue its aggressive efforts aimed at quickly increasing its production capacity. About Isonics Corporation Isonics is a world leader in isotopically engineered materials and produces isotopically pure silicon-28 chemicals and wafers and silicon-on-insulator wafers (SOI) for the semiconductor industry. Isonics also markets and sells stable isotopes for the health care industry such as Oxygen-18 for Positron Emission Tomography (PET) imaging. The company is also a leading supplier of several radioactive isotopes used in medical imaging and therapy. Isotopes can be thought of as ultra pure materials. For additional information visit http://www.isonics.com. Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein, and which may result in the parties being unable or unwilling to complete the transaction described herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB for the year ended April 30, 2001 as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission. Contact: Isonics Corporation, Baltimore Dr. Stephen J. Burden, 410/381-5254 sburden@isonics.com or Investor Relations Services Inc., New Smyrna Beach, Fla. Gary Frank, 386/409-0200 ison@invrel.net