IsoRay (NYSE:ISR) said yesterday that it’s spiking its GliaSite radiation therapy system for treating brain cancers, after achieving only modest sales since the FDA cleared the device in 2011.
Richland, Wash.-based IsoRay said it’s cancelling its deals with Dr. Reddy’s Laboratories (NYSE:RDY), Hologic (NSDQ:HOLX) and Karlheinz Goehl-Medizintechnik Goehl concerning GliaSite.
“The GliaSite product has resulted in only marginal sales, but it was the first delivery system available to the company to deliver brachytherapy radiation in the treatment of brain cancer. Management believes that application of the Cesium-131 brachytherapy seed in a braided suture and using other delivery systems which are being developed by others utilizing the company’s Cesium-131 brachytherapy seed are showing greater success and acceptance in the treatment of brain cancer,” IsoRay said in a regulatory filing.
The deal with Dr. Reddy’s is slated to end June 30, with IsoRay ponying up $15,000 in owed royalties. The Hologic agreement is due to end July 11; the Karlheinz Goehl-Medizintechnik Goehl deal was halted April 11, IsoRay said.
The post IsoRay spikes GliaSite radiation therapy device appeared first on MassDevice.
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