NorthStar adds $100M to coffers

AuntMinnie.com staff writers
Apr 22, 2019

NorthStar Medical Radioisotopes parent NorthStar Medical Technologies said it has completed a $100 million secured financing round with Oberland Capital Management.

The firm received $75 million up front and had the option to draw an additional $25 million prior to the end of 2020. NorthStar said it would use the funds primarily to increase U.S. production capacity for molybdenum-99 (Mo-99), improve Mo-99 production efficiency, and implement additional enhancements for its RadioGenix isotope separation system, as well as advance research and development activities.

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