SHINE raises $70M in state’s largest deal of the year so far

SHINE graphicSHINE Technologies has completed a $70 million funding round — the largest investment deal of the year so far in Wisconsin.

The Janesville-based company is developing fusion technologies for applications in various industries, including health care, aerospace and more. Ultimately, SHINE aims to achieve fusion energy generation in the final phase of its four-part business development strategy.

It’s currently advancing the second phase of that plan, which involves producing medical isotopes for cancer treatment. SHINE’s Cassiopeia lutetium-177 production facility is expected to come online by the end of the year, according to yesterday’s release. Lu-177 is a radioactive material used to kill cancer cells through targeted therapies.

“We’re now ramping our production of Lu-177 to get life-saving medicine to cancer patients more quickly,” CEO and founder Greg Piefer said in a statement. “It’s the latest use of our technology to improve the world, and adds to our neutron inspection and radiation effects testing businesses, which are helping ensure people are safe through applications in aerospace, space and defense.”

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