March 27, 2017 – Janesville, WI – SHINE Medical Technologies, Inc. (SHINE), a company dedicated to being the world leader in the safe, clean, affordable production of medical isotopes, announced today that Martyn Coombs will become a Strategic Adviser to SHINE, on a part-time basis. The announcement comes as the company prepares to build its facility in Janesville, Wisconsin, after receiving its construction permit from the U.S. Nuclear Regulatory Commission last year. The SHINE facility will produce molybdenum-99 (moly‑99) and other medical isotopes used to detect and treat a wide variety of diseases, including heart disease and cancer.
“Martyn is a recognized leader in the nuclear medicine industry, with an impressive track record building forward-looking teams and industry-leading companies.” said Gregory Piefer, founder and CEO of SHINE. “We look forward to his insights as we work to replace the North American medical isotope production capacity lost when the NRU reactor in Canada ceased production last year.”
“The future supply of Mo-99 is the critical elephant-in-the-room issue in the future of SPECT, given our dependency on aging nuclear reactors,” said Mr. Coombs. “We leaders in the industry have an obligation to doctors and patients to resolve this issue. SHINE is the best potential solution to this challenge, and I am delighted to be able to advise Greg and his team, and help them be successful.”
Mr. Coombs is a recognized leader in the nuclear medicine industry. Most recently, as President of Jubilant DraxImage, he led the company through a period of rapid organic growth, tripling revenue in four years. He built a strong team, advanced the development pipeline toward approval, and built the company’s strategy toward becoming the industry leader.
Mr. Coombs has also spent nine years with Amersham/GE Healthcare, including five years in Japan as the Executive Vice President of Nihon Medi-Physics. He holds a degree in Mathematics and an MBA with distinction from Warwick Business School.
He was very recently appointed as the new CEO of ImaginAb.
[bctt tweet=”The future supply of Mo-99 is the critical elephant-in-the-room issue in the future of SPECT, given our dependency on aging nuclear reactors” username=”SHINEmedical”]
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., the largest Chinese distributor of radiopharmaceuticals. Learn more at https://shinemed.com.