Isoray Inc., a medical technology company and pioneer in seed brachytherapy, announced today that its merger with privately held Viewpoint Molecular Targeting, Inc. was completed successfully. The combined companies will focus on the advancement of cancer treatments through the use of radiation, radiopharmaceuticals, and imaging technologies to deliver precision, targeted medical doses directly to cancer patient tumor sites.
Thijs Spoor, CEO of Viewpoint Molecular Targeting, has been named Chief Executive Officer, and Lori Woods, CEO of Isoray, has been named Chairperson of the combined companies’ Board of Directors. The all-stock transaction went into effect on February 3, 2023.
Lori Woods, the outgoing CEO of Isoray, said that the merger with Viewpoint Molecular Targeting represents a significant milestone for the company. She emphasized that the merger reflects Isoray’s dedication to treating cancers from the inside out and offering personalized targeted treatment options for cancer patients. Woods expressed her excitement for the growth of the combined companies, which she believes will benefit both patients and doctors and increase stockholder value.
“The merger of Isoray and Viewpoint represents a powerful combination of two complementary businesses in the field of radiopharmaceuticals,” said incoming Isoray CEO Thijs Spoor. “The mission of the combined company is to further develop the role of Cesium-131 for the treatment of a variety of cancers and expand on our exciting and novel pipeline of proprietary targeting peptides to diagnose tumors in order to deliver powerful Targeted Alpha Therapies (TAT’s). The use of alpha-particle radiation with proprietary targeted delivery agents has the potential to transform the treatment paradigm of patients suffering from early-stage cancers.”
At the completion of the merger, each issued and outstanding share of Viewpoint common stock was converted into 3.1642 shares of Isoray common stock, for a total of 136,545,075 shares, or approximately 49% of Isoray’s 278,657,841 outstanding common stock. There was no cash consideration paid in connection with the merger other than the $14.80 paid in lieu of fractional shares.
