Team Members and Investors
Morgridge Institute for Research, University of Wisconsin–Madison, TechSource, The State of Wisconsin, WARF (Wisconsin Alumni Research Foundation), and Phoenix Nuclear Labs
The increasingly unstable supply of a medical isotope used in imaging procedures has caused the price of its parent isotope, molybdenum-99, to triple in the U.S. between 2009-2010. Market demand for the medical isotope derived from molybdenum-99 exceeds one billion dollars per year worldwide and unit volume is growing at a rate of 5 percent annually. Deterioration of the two primary production facilities has made them unreliable and devastated the once-stable supply, forcing delay or cancellation of the 55,000 medical imaging procedures (encompassing over thirty different diagnoses) performed each day in the U.S. alone. In addition, the deterioration of these facilities has disrupted the supply of other essential treatment and diagnostic substances including iodine-131, iodine-125, and xenon-133.
To address the crisis caused by the shortage of molybdenum-99, and the needs of other rapidly growing isotope markets, SHINE Medical Technologies (SHINE) has patented its laboratory-proven low-energy neutron source. In contrast to current methods of producing medical isotopes, SHINE’s neutron source can produce these substances without a nuclear reactor and hence do so more cost effectively. SHINE will integrate this neutron source with a high-efficiency target system, resulting in a production facility capable of producing more than half of U.S. demand for molybdenum-99. Once operational, this facility is expected to positively impact the lives of over one billion people over its lifetime. All key project components have been demonstrated in the laboratory or in commercial practice, at output levels comparable to those required for a commercial facility.
SHINE has assembled a world-class team of scientists and business leaders dedicated to ensuring our production facility milestones are met.
SHINE’s pro-forma financial statements show a large and rapid return on investment. Financial risk is minimized because of SHINE’s sustainable commercial advantages, the team’s accomplishments to date, the involvement of supporting entities, the large amount of non-equity capital raised already, multiple product lines, and SHINE’s roadmap for success.