Shine closes $80M funding round

By staff writers

September 4, 2020 -- 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.

Copyright © 2020

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