Monona, WI – SHINE Medical Technologies, Inc. (SHINE), a Wisconsin-based company dedicated to being the world leader in the safe, clean, affordable production of medical isotopes, announced plans to move its headquarters from Monona to downtown Janesville, Wisconsin late this year. SHINE employees will continue operations in the new headquarters while the company prepares for construction of its medical radioisotope production facility, which was approved by the U.S. Nuclear Regulatory Commission in February.
SHINE will occupy the top floor of the Prospect 101 building in downtown Janesville, approximately 6 miles north of the future production facility, which will be built near the Southern Wisconsin Regional Airport.
SHINE selected Janesville for the location of its production facility after an extensive site selection process in 2012.
All of SHINE’s employees will relocate to the downtown headquarters, and many are choosing to reside in Janesville as well. “I’m looking forward to both working and living in Janesville and experiencing everything this area has to offer,” said Jeff Bartelme, Licensing Manager at SHINE. SHINE is expected to grow to 60+ employees in 2017, and employ 150 people at its future production facility.
SHINE’s new headquarters will be located in an area that the City of Janesville is seeking to revitalize. “Our entire team is excited about this move. The relationship between the City and SHINE has always been a top priority, and now it’ll be home,” said Greg Piefer, CEO of SHINE. “Janesville has great momentum right now, and we’re thrilled to be contributors, especially the revitalization of the downtown riverfront area, an iconic part of the city.”
“The introduction of SHINE’s employees working day to day within Downtown will be a great additional boost to the Downtown economy and continues the strong momentum in the improvement of Downtown as we move forward with the implementation of the Rock Renaissance Redevelopment and Implementation Strategy,” said Gale Price, Economic Development Director for the City of Janesville.
Molybdenum-99 (moly-99) is a radioisotope that decays into the diagnostic imaging agent technetium‑99m (Tc-99m). Tc-99m is used in more than 40 million medical imaging procedures each year, primarily in stress tests to diagnose heart disease and bone scans to stage cancer. SHINE was founded to deploy a safe, cost-effective and environmentally friendly technology to produce medical isotopes, including moly‑99.
About SHINE Medical Technologies, Inc.
Founded in 2010, SHINE is a development-stage company working toward becoming a manufacturer of radioisotopes for nuclear medicine. The SHINE system uses a patented, proprietary manufacturing process that offers major advantages over existing and proposed production technologies as it does not require a nuclear reactor, uses less electricity, generates less waste and is compatible with the nation’s existing supply chain for molybdenum-99. In 2014, SHINE announced the execution of molybdenum-99 supply agreements with GE Healthcare and Lantheus Medical Imaging. In 2015, with the help of Argonne National Laboratory, GE Healthcare demonstrated SHINE molybdenum-99 can act as a drop-in replacement for reactor-based moly-99. In June of 2016, SHINE signed a moly-99 supply agreement with HTA Co., Ltd. (HTA), the largest Chinese producer and distributor of radio-pharmaceuticals. Learn more at http://shinemed.com.