Shine Medical has increased its lifetime funding to around $283m as it prepares to launch medical isotope production plants leveraging fusion-based neutron generators invented at UW-Madison.
Shine Medical, a US-based medical isotope production technology company spawned from University of Wisconsin (UW)-Madison research, has closed a $50m round with unnamed funds managed by investment firm Oaktree Capital Management.
Founded in 2010, Shine Medical builds production plants for manufacturing chemical isotopes with medical applications using fusion-based neutron generation technology owned by UW-Madison spinout Phoenix.
The company’s first facility will manufacture an isotope called molybdenum-99 whose radioactive byproduct, technetium-99m, has applications in diagnostic imaging to detect disease…
