UW-Madison spinoff in Janesville awarded $10 million for critical medical isotope

SHINE Medical Technologies, Inc. of Janesville has been awarded $10 million from the U.S. Department of Energy to advance production of an isotope used in cancer and heart diagnosis.

SHINE’s technology eliminates the use of highly-enriched uranium in making molybdenum-99, an isotope that decays into another isotope that is used in more than 40 million medical imaging procedures annually.

The funding will advance the design and construction of SHINE’s radioisotope production facility in Janesville.

“We are grateful to the DOE National Nuclear Security Administration for its financial and technical support through the construction permit approval process,” said Greg Piefer, SHINE CEO.  Piefer invented the essential technology while studying at UW–Madison.