Wisconsin startup company Shine Medical has secured an initial $11 million in venture capital funding as part of its effort to develop a manufacturing plant to address the worldwide shortage of molybdenum-99.
In partnership with Morgridge Institute for Research and other public and private collaborators, Shine Medical has achieved a series of milestones in its efforts to develop a U.S. production source for molybdenum-99, the company said.
The alternative method for producing the isotope combines a technology developed by the University of Wisconsin with a new process developed by Shine. The new method does not use highly enriched uranium and does not require a nuclear reactor, according to the firm.
