Shine Medical Technologies and Phoenix Nuclear Labs have signed an exclusive long-term development and supply agreement for radioisotopes.
Under terms of the deal, Shine will provide further funding to Phoenix Nuclear Labs to refine its neutron generator technology so that it will meet the reliability requirements of Shine's isotope production facility, which will be located in Janesville, WI. Phoenix Nuclear Labs will also exclusively supply all neutron generators required by the Shine facility through the term of the agreement.
The two companies have been working together in a research and development partnership over the past five years. Shine's new facility will produce molybdenum-99; commercial production is expected to begin in 2018. Phoenix Nuclear Labs' technology will allow Shine to produce isotopes without the use of highly enriched uranium, the firms said.
