Medical tracer dev Shine Medical Tech raises $30m

Shine Medical Technologies raised $29.3 million in a new round of debt and option financing, according to an SEC filing posted this week.

Shine Medical is a development-stage company working towards becoming a radioisotope manufacturer, according to the company’s website.

The company touts that its proposed production technologies do not require a nuclear reactor, use less electricity and generate less waste than current production techniques.

The Janesville, Wisc.-based company is looking to produce Molybdenum-99, Iodine-131, Iodine-125 and Xenon-133, according to its website.

Money in the round comes from 217 unnamed investors, according to the SEC filing.

The company is hoping to raise an additional $688,731 before closing the round, with the 1st sale dated on Sept. 11, 2013.

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