Medical isotope developer ARTMS has raised $19 million in a series A round of financing with two investment funds.
The investment round was led by Deerfield Management, with continued investment in ARTMS by Global Health Sciences Fund. The company said it would use the funds to leverage its Quantm Irradiation System (QIS) technology, which supports the production of medical isotopes in cyclotrons.
QIS can produce a range of isotopes, including gallium-68, zirconium-89, technetium‐99m, and copper-64. ARTMS will use the new funding to collaborate with other firms in the development of a cyclotron-produced gallium-69 diagnostic radiopharmaceutical and to expand the commercialization of QIS for the production of other medical isotopes.
