Press
Releases
Merger
Creates ONCURA, a Global Leader in Minimally Invasive
Prostate Cancer Disease Management
New York (July 08, 2003) — The merger of Amersham’s
(LSE, NYSE, OSE: AHM) brachytherapy business with Galil
Medical Ltd’s urology business — originally
announced on April 22, 2003 — has been completed.
The newly incorporated company named ONCURA will have
a major global presence in the treatment of prostate
cancer, combining the market leadership of Amersham
in brachytherapy with the rapidly growing area of cyrotherapy.
Cryotherapy and brachytherapy currently address the
needs of different segments of the prostate cancer treatment
market. The combination of the leading products in these
two segments will position ONCURA as a unique provider
of minimally invasive options across the spectrum of
prostate cancer.
“Building on our base of complimentary products
our goal is to develop a strong franchise in the management
of urological diseases,” said James McGlone, former
President of Galil Medical; now President and CEO, ONCURA.
“Patients deserve as many options as possible,
and they deserve those that are the most minimally invasive.”
The new company will have a major global presence in
the treatment of prostate cancer, offering physicians
and patients a broad choice of minimally invasive treatment
options for use in individuals with early, as well as
more advanced and recurrent stages of prostate cancer.
It will also offer the option of cryotherapy for the
treatment of kidney cancer.
ONCURA will provide SeedNet™ cryotherapy products,
a unique range based on ultra-thin 17 gauge CryoNeedlesTM,
as well as leading prostate brachytherapy seed products
— RAPID Strand™, OncoSeed™, EchoSeed™
and TheraSeed®. In addition, ONCURA will co-promote
Amersham’s metastatic bone pain palliation agent,
Metastron™.
“ONCURA will be focused on innovation and service
to the radiation oncology and urology community, as
well as commitment to patient care,” said James
McGlone, “Our knowledge of disease management
in prostate cancer will allow also us to explore opportunities
in the broad spectrum of prostate cancer diagnosis and
treatment.”
Headquartered in the United States, ONCURA will operate
as an independent business of Amersham plc, with Galil
holding a minority position of 25 percent. Its Board
will consist of three representatives from Amersham
and two from Galil. John Jeans, formally President of
Amersham’s Therapy business, will serve as ONCURA
Chairman, and Chen Barir, Galil Medical’s Chairman,
will be vice Chairman.
TheraSeed® is a registered trademark of Theragenics
Corporation
CONTACT: Andrew Bright
(609) 514 6531
andrew.bright@oncura.com
Kristie Kuhl
(212) 508-9642
kkuhl@makovsky.com
