Ionetix Corporation has raised more than $30 million in a private placement offering to expand production of medical radioisotopes and increase research and development capabilities for its particle accelerator platform.
The Lansing, MI-based company's superconducting cyclotron technology currently generates revenue in the medical isotopes space, spanning PET diagnostics and alpha emitting therapeutics, according to the firm. The funding will support scaling up of radioisotope production as well as R&D efforts in nuclear energy, materials testing, and related areas, Ionetix said.
Ionetix also completed a reverse merger with JDEV Acquisition and intends to apply for quotation on the OTCQB venture market.
