Medical isotope firm Shine Medical Technologies said that it has received a 91-acre parcel of land from Janesville, WI, for the company's planned medical isotope production facility.
The transaction, part of a tax increment financing deal between Shine and the city, comes after the firm met several conditions, which included approval of construction permits by Janesville and the U.S. Nuclear Regulatory Commission (NRC), according to Shine. The company said it also passed a financial audit to prove its financial viability. The facility is set to break ground in early May.
Shine is one of several entities working toward the manufacture of medical isotope molybdenum-99 (Mo-99), the precursor to technetium-99m (Tc-99m), in the U.S.
