ISORAY MEDICAL INC.

Location: Richland

Website: www.isoray.com

Founded: 1998

Key Innovation: The company manufactures the prostate cancer drug Proxcelan with Cesium-131, a medical isotope that packs a powerful punch but has a relatively short half-life. The radiation from the isotope penetrates just two centimeters into the tissue, and within 33 days, 90 percent of the prescription dose has been given off, says Chairman and CEO Roger Girard (above). During an hour-long treatment, tiny capsules containing the isotope are injected into the cancer site, disrupting the DNA of cancer cells. "It's on the chemical chart; it's one of the natural elements," notes Girard, adding that Cesium-131 has never before been manufactured and purified.

Key People: Chief Chemist Lane Bray developed the patented process for economically separating and purifying Cesium-131. Girard was hired in 2003 to help develop the company. A Winthrop native, he says IsoRay remains headquartered in the Tri-Cities "because of the tremendous pool of very smart people, particularly in radioactive materials."

Measure of Success: The company had its first implantation of Proxcelan in October 2004. Each of the 1,900 patients treated with Cesium-131 have seen their cancer go into remission, says Girard. "This is platform technology; in other words, it's not just a one-trick pony," he says. "We've raised just shy of $50 million, gone public, gotten FDA approval and medical reimbursement codes so Medicare pays for the procedure." The isotope soon could be used for treating lung, ovarian and breast cancers, says Girard.

Employees: 70

What's Next: The company is rapidly expanding distribution worldwide, with a second plant planned for Russia. In September 2007, IsoRay completed a new facility in Richland. "We're considering a number of different options with other companies that would like to work with us," says Girard. "We are constantly looking at acquisitions and mergers, any opportunity that would equate to more shareholder value and more and faster market penetration." He adds: "It's a very exciting time, a difficult time but very exciting."

ADVANCED MEDICAL ISOTOPE CORP.

Location: Kennewick

Website: www.advancedmedicalisotopes.com

Founded: 2006

Key Innovation: Chief Scientist Robert E. Schenter (top) believes further development of medical isotopes - used to diagnose and treat ailments such as cancer, arthritis and Alzheimer's disease - will be a major advancement of the 21st century. Currently, the U.S. imports much of its supply, limiting the availability of short-lived varieties, including Fluorodeoxyglucose, the key isotope for positron-emission tomography (PET) imaging. Advanced Medical Isotope distributes several medical isotopes and will soon be producing them domestically. It is the first U.S. company to acquire purchasing rights to the PET-isotope production machines manufactured by AccSys Technology Inc., a Pleasanton, Calif., affiliate of Hitachi Ltd.

Key People: CEO William J. Stokes has more than 30 years of experience managing nuclear industry services firms. Founder and President Jim Katzaroff (bottom) has a background in technology ventures, business leadership, finance and corporate development. Schenter, an internationally renowned physicist, is chief scientist and chair of the company's scientific advisory board.

Measure of Success: "Certainly we want to be successful from an economic standpoint, but even more important is how we can save thousands of lives by these procedures," says Schenter. "There's a lot of education that needs to be done. Isotopes are underused because oncologists are not aware or prefer standard chemotherapy."

Employees: 11

What's Next: The company plans to distribute in Washington, first, gradually expanding throughout the U.S. and abroad. "Our mission over the next two or three years is to get the next six going," Katzaroff says of the PET-isotope machines. Schenter adds: "We envision that these machines could be put in a small room and eventually be used as a tabletop producer of these isotopes, especially for the short-lived ones."