ITEL Signs Agreement with Advanced Accelerator Applications to Commercialize F-18 Radiopharmaceuticals in S Italy

ITEL today announced that it has signed an agreement with Advanced Accelerator Applications S.A. (NASDAQ: AAAP) ("AAA") to manufacture and commercialize F-18 radiopharmaceuticals to hospitals and imaging centers in selected regions of Southern Italy. The multiannual contract establishes that, once ITEL has completed all the qualification procedures and has been authorized by Italian Medicines Agency AIFA, the company will manufacture F-18 radiopharmaceuticals under AAA license in its production plant in Ruvo di Puglia (BA) and commercialize them across the PET centers located in select regions of Southern Italy by means of its business unit ITELPHARMA. AAA`s key F-18 product is Gluscan®, its branded fluorodeoxyglucose (FDG) PET imaging agent which assists in the diagnosis of serious diseases, primarily in oncology, by assessing glucose metabolism. "This partnership enables us to operate not only in Apulia, but also in other nearby regions. It will allow us also to offer a more comprehensive selection of F-18 radiopharmaceuticals to nuclear medicine departments", said Leonardo Diaferia, President of ITEL. "We are delighted to work with AAA, a pharmaceutical group that shares our commitment to innovation. This agreement rewards our experience in producing FDG that started in 2009 and our investments in human resources and facilities. Our plant has a double production line so that we can ensure delivery in time of radiopharmaceuticals to nuclear medicine facilities, for the benefit of partners but, above all, of patients," added Wilma De Feudis, Managing Director of ITEL. "AAA is very active in the European F-18 PET market with 13 PET production facilities based in France, Germany, Italy, Poland, Portugal and Spain", noted Stefano Buono, Chief Executive Officer of AAA. "This agreement will reinforce AAA`s position as one of the leading companies in the F-18 PET market in Italy." "This agreement completes the strategy begun with the acquisition of GE Healthcare`s FDG-PET radiopharmaceutical business," added Enrico De Maria, Chief Executive Officer of AAA Italy. "The partnership with Itel will enable us to produce our F-18 radiopharmaceuticalsin a total of four sites in Italy. This will ensure AAA`s products are better distributed across the country and offer Italian patients premium service."