October 1, 2015 – 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 today that Todd Asmuth will join the company as President, reporting to the CEO and focusing on investor and customer relations. The appointment comes as the company prepares to bring its first product to market, molybdenum-99 (moly-99).
Moly-99 decays into the diagnostic imaging agent technetium-99m (tech-99m). Tech-99m’s extraordinary attributes make it the most commonly-used medical isotope on the planet – over 40 million medical imaging procedures per year rely on tech-99m. SHINE was founded to deploy a safe, cost-effective and environmentally friendly technology to produce medical isotopes, including moly-99.
Mr. Asmuth has been a SHINE board member for the last two years and has managed four other early-stage ventures. He has been a board member and investor in numerous venture capital and private equity backed companies with a focus on green technologies and new product commercialization. Early in his career, he spent 4 years in management consulting with Booz Allen Hamilton on strategy engagements with Fortune 500 companies. He earned an MBA with highest honors from the Kellogg School of Management at Northwestern University and a B.S. in Mechanical Engineering from Yale University.
“SHINE is well-positioned to take the next steps in solving the upcoming shortage of moly-99 and to help the more than 14 million U.S. patients each year who depend on moly-99 for diagnosing and guiding treatment of their illnesses. As the company shifts its efforts toward commercialization, I’m looking forward to working with our key strategic customers and both current and prospective investors. Dr. Piefer’s innovations have created a remarkable technological advantage and he has built a great team to move through the design and permitting processes. I’m excited to join them as we now work toward building and operating our isotope production facility in Janesville, WI.”
“We are thrilled to have an exceptional individual like Todd further strengthen the SHINE team,” said Greg Piefer, Ph.D., founder and chief executive officer of SHINE. “His focus on investor and customer relations is particularly relevant now as we are achieving key technical and regulatory milestones that allow us to move toward commercial operations.”