Medical isotope firm Shine Medical Technologies has secured $2.4 million in financing.
The money will cover operating costs as Shine moves toward obtaining a construction permit from the U.S. Nuclear Regulatory Commission. The company needs the permit to begin construction of its full-scale manufacturing facility in Janesville, WI.
Shine seeks to become the leading U.S. supplier of molybdenum-99 (Mo-99), a radioisotope that decays into the diagnostic imaging agent technetium-99m (Tc-99m). Earlier this year, the company signed an agreement to supply Mo-99 to GE Healthcare after its facility becomes operational, according to the firm.
