Culver City Observer -

Sofie Biosciences, Inc., of Culver City announces that it has entered into a definitive agreement under which it will purchase Zevacor Pharma (previously IBA Molecular North America) and its high-performance manufacturing and distribution network of PET imaging diagnostics and radio-therapeutics. Sofie Biosciences, Inc., (SOFIE) is a developer of molecular imaging diagnostics and technologies to empower widespread access to Positron Emission Tomography (PET). Zevacor Pharma, currently owned by Illinois Health and Science (IHS), is a highly valuable asset, full of talented employees who ensure patients have access to advanced imaging and treatment. The combined capabilities will provide customers with an ecosystem of PET products from imaging diagnostics to chemistry technologies for manufacturing of new compounds, to PET imaging systems. Patrick Phelps, President & CEO of SOFIE, commented: "An acquisition of a radio-pharmacy network has been a strategic initiative of SOFIE for years. Customers and partners will greatly benefit from SOFIE taking commercial leadership in the PET radio-pharmacy industry to not only grow FDG PET/CT service, which is still vastly underutilized, but expand the use of newly FDA-approved PET diagnostics, support Phase I/II/III clinical trials, and enable the preclinical sciences with expanding access to PET, in concert with our pipeline of imaging diagnostics. SOFIE is excited to fully recognize the potential of PET and a remarkable new wave of theranostics that combine PET imaging diagnostics and radio-therapeutics." The transaction is subject to closing conditions, which are expected to finalize in the next 60 to 90 days. SOFIE is a molecular imaging company combining new PET imaging diagnostics with innovative imaging and synthesis systems to provide researchers and physicians with tools to better investigate the biology of disease. By empowering a wide array of people with valuable, translational imaging tools SOFIE is making PET scans more accessible. For more information, please visit http://www.sofiebio.comAbout Zevacor Pharma Zevacor is a leading developer, manufacturer and distributor of PET radiopharmaceutical products and supporting services used in molecular imaging in the U.S. Zevacor has a unique product portfolio and pipeline of diagnostic tracers aimed at advancing the development of the global movement toward personalized medicine and making molecular imaging a major discipline in healthcare. Zevacor Pharma (formally IBA Molecular North America, Inc.) is owned by Illinois Health & Science, a non-profit healthcare system based in Decatur, Illinois. For more information, please visit http://www.zevacor.com