SHINE Medical Technologies, a nuclear technology company focused on becoming the world’s leading producer of medical isotopes, has raised $80-million in Series C financing round. The funding was led by one of the largest investors, Fidelity Management and Research Company LLC, in addition to some new investors and the company’s current investors.
SHINE is building a first-of-a-kind medical isotope production facility in Janesville, Wisconsin. There has been little or no domestic production of the isotope, causing chronic shortages that significantly affect the diagnosis and treatment of patients around the world.
“This funding round will help SHINE’s continuing efforts to commercialize vital diagnostic and therapeutic isotopes that will be created by our revolutionary, responsible production technologies,” said Greg Piefer, founder, and CEO of SHINE.