Theragenics, Oncura Settle Arbitration Case

Theragenics, a Georgia-based manufacturer and marketer of the TheraSeed palladium-103 cancer treatment device, and Oncura, a company specializing in the minimally invasive treatment of prostate cancer, settled an arbitration case filed by Oncura Nov. 3, 2003, by mutual consent.

As part of the settlement, each party has dropped its claims against the other and the parties agreed to advance the termination of their distribution agreements for TheraSeed. The distribution agreements between Oncura and Theragenics will now terminate Sept. 8. At that time, Oncura will no longer be marketing or selling TheraSeed.

The TheraSeed device will continue to be marketed and sold through Theragenics' direct sales force as well as through its remaining distributor. Oncura will offer its own brand of palladium-103 treatment device for prostate cancer to the U.S. market.