Mr. Steve West reports

NORDION ENTERS INTO AGREEMENT TO DIVEST TARGETED THERAPIES BUSINESS TO BTG PLC

Nordion Inc. has entered into an agreement to divest its targeted therapies business to BTG PLC, an international specialist health care company based in London, U.K., for a cash purchase price of $200-million (U.S.). Net of cash taxes and transaction costs, Nordion expects to realize approximately $185-million (U.S.) on closing. The transaction is anticipated to be completed by the end of June, 2013.

Nordion manufactures and commercializes TheraSphere, a targeted liver cancer therapy, the sole product in its targeted therapies business. Under the terms of the transaction agreements, BTG is expected to acquire TheraSphere, and Nordion has agreed to continue manufacturing TheraSphere under a manufacturing and support agreement with a contract term of three years, plus a two-year extension at BTG's option. Approximately 40 Nordion employees are expected to join BTG following the completion of this transaction, which is subject to customary closing conditions and approval by BTG shareholders.

"Nordion built TheraSphere into a valuable product over the past decade and has positioned it for future growth and development. Given BTG's position as a leader in interventional medicine, we believe it is an ideal home for TheraSphere and the talented people that support it," said Steve West, chief executive officer, Nordion. "We also believe this transaction provides value for our shareholders and leaves Nordion with a focused specialty isotopes business. We intend to continue our strategic review process which includes an assessment of potential uses for the cash proceeds from this sale."

The decision to divest targeted therapies was made as part of Nordion's strategic review with the assistance of the company's financial adviser, Jefferies LLC, as announced on Jan. 28, 2013.

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