Positron has signed memorandum of understanding (MOU) with the City of Noblesville, Indiana to relocate its corporate headquarters, research & development and product manufacturing facilities to Noblesville.

The MOU includes economic incentives for the development of the company’s high energy 70 MeV cyclotron project and radiopharmaceutical manufacturing facility also to be located in Noblesville.

Under the MOU Positron proposes to make a capital investment of $55m for the project in conjunction with economic development incentives from the City of Noblesville and the State of Indiana, as well as various other project financing opportunities.

Positron CEO Patrick Rooney said the securing of critical components of the supply chain realized from this project will be considerable; they have built a foundation in their cardiac imaging products and continue to expand into medical isotopes and radiopharmaceuticals, allowing them to offer a solution for cardiac PET imaging.

Positron, the City of Noblesville, and the State of Indiana are working to finalize a definitive agreement regarding the proposed incentive package for this project.