Positron acquires Dose Shield

John Zehner, president and founder of NukeMed and Dose Shield has been named as president and director of Positron Pharmaceuticals.

Positron and Positron Pharmaceuticals acquired Dose Shield for an aggregate purchase price of 80 million shares of Positron’s common stock, 40 million delivered at closing and 40 million delivered upon confirmation of the ability to re-sell Dose Shield’s Cardio-Assist device, cash in the amount of $600,000, $60,000 delivered at closing and the balance on or before December 31, 2008, earn out payments equal to the lesser of 50% of the net revenue generated from sales of pharm-assist equipment or $600,000, advances for expenses equal to $450,000 and royalties equal to 1.5% of the net revenues generated from sales of all Dose Shield equipment.

In addition, Mr Zehner executed a three year employment agreement with Positron to head Positron Pharmaceuticals.

Joe Oliverio, president of Positron, said: “The acquisition of Dose Shield Corporation, as well as the patent expiration of two key nuclear cardiology radiopharmaceuticals, allows Positron to provide additional services to our customers. We will be soon be able to incorporate radiopharmaceuticals into the sale which will complement our current line of molecular imaging systems, dose drawing systems and disease management software.”