Strategic acquisition enhances SHINE's distribution channels and strengthens access to cleaner, safer and more reliable medical isotopes
JANESVILLE, Wis., May 6, 2025 -- SHINE Technologies, a nuclear fusion company with a platform of medical isotope products, announced it has entered into a definitive agreement to acquire the SPECT business from Lantheus, a leading radiopharmaceutical-focused company. The acquisition will include the portion of the North Billerica, Massachusetts campus that manufactures Lantheus' SPECT products.
SHINE and Lantheus share a commitment to ensuring consistent patient access to critical medical isotopes. By combining SHINE's fusion-based isotope manufacturing technology with Lantheus' established market channels, the transaction creates powerful synergies that strengthen SHINE's leadership in the nuclear medicine market.
"Today's announcement marks a major milestone on our journey to improve lives through fusion technology," said Greg Piefer, founder and CEO of SHINE. "Our companies have a long history of partnership, and we have admired Lantheus' commitment to ensuring patient access to essential medical radioisotopes. By integrating Lantheus' SPECT business and talented team with our company, we will expand our product portfolio, accelerate our path to market for our planned suite of isotopes and increase our market share – ultimately ensuring greater access to these life-saving products for patients."
For nearly 70 years, Lantheus has provided the nuclear medicine market with first-in-class diagnostic radiopharmaceutical products. The company is a market leader in US production of technetium-99 (Tc-99), a medical isotope used in nuclear medicine imaging procedures. Lantheus' SPECT product portfolio includes imaging agents for the heart, lung, thyroid, bladder and more.
Chrysalis, SHINE's large-scale irradiation facility, is set to become the largest isotope production facility in the world. Once operational, Chrysalis will complement the existing supply chain ensuring a sustainable and reliable source of isotopes, including Mo-99, the world's most widely-used isotope, and Lu-177, the most widely-used cancer fighting isotope.
Last year, SHINE opened one of the largest facilities in the western hemisphere dedicated to producing non-carrier-added lutetium-177. The facility has a production capacity of up to 100,000 doses of Lu-177 per year, with the ability to further expand to 200,000 doses per year.
"We are confident that SHINE's expertise in isotope production as well as their commitment to growth and patient access position them well to continue our legacy with the SPECT business as we focus on advancing and expanding our pipeline of innovative diagnostics and therapeutics," said Brian Markison, CEO of Lantheus. "SHINE's interest in our SPECT business underscores the dedication and knowledge of our employees who have been instrumental to its decades-long success at Lantheus, and we thank our talented team for their contributions."
About SHINE
Headquartered in Janesville, Wisconsin, SHINE is an industry leader in next-generation fusion, developing innovative fusion-based technology that combines safety, cost-efficiency and environmental responsibility.
SHINE has successfully commercialized fusion across multiple applications, including neutron testing markets such as neutron radiography, radiation-effects testing and fusion material research. It has commercialized and is scaling its proprietary medical isotope production, processes, supplying high-quality radioisotopes essential for procedures including diagnosing heart disease and cancer as well as cancer therapy.
Beyond these applications, SHINE is pioneering nuclear waste recycling to make nuclear energy more sustainable. Its long-term purpose is to change the way humans make energy by commercializing fusion energy. Unlike other fusion companies, SHINE takes a commercially driven path mirroring successful deep-tech industries. Through this visionary approach, SHINE is advancing technology, healthcare, and sustainable energy, making a lasting impact across multiple sectors.
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