Medical isotope firm Shine Medical Technologies has closed a round of financing that raised $80 million for the company.
Shine said that the largest investor in the series C funding round was Fidelity Management and Research Company. The round included participation from both current and new Shine investors.
Shine is building a facility in Janesville, WI, to produce medical isotopes, including molybdenum-99 (Mo-99). Mo-99 is commonly used for nuclear medicine procedures, but it frequently experiences supply disruptions due to the lack of a U.S. source.
The new funds will enable Shine to continue with that project, according to the company.
