From WisPolitics.com/WisBusiness.com …
— SHINE Technologies in Janesville has been granted authorization to sell its Ilumira product in Europe, breaking into one of the world’s largest markets for its targeted cancer therapy.
The nuclear technology company on Friday announced the centralized marketing authorization approval for Europe, a key step for selling its non-carrier-added lutetium-177 product there.
SHINE makes Ilumira at its Janesville facility called Cassiopeia, one of the largest production sites of its kind in North America. Used alongside targeting molecules, the therapy targets cancer cells with precise radiation.
Michael Rossi, CEO of subsidiary SHINE SPECT LLC, says the approval “opens the door” for Illumira to be used in developing radiological therapies on a larger scale, expanding access to nuclear medicine for cancer patients.
“Combined with the isotope manufacturing and distribution operation we run for North American hospitals and imaging centers, SHINE now serves both sides of nuclear medicine,” Rossi said in a statement.
Meanwhile, the company also recently announced it’s been chosen for “advanced negotiations” with the U.S. Department of Energy to convert surplus plutonium into fuel for advanced nuclear reactors. This material, originally produced for nuclear weapons, is being made available to industry partners for conversion through a DOE Office of Nuclear Energy program.
SHINE says it is one of few businesses selected for negotiations under the program. Its approach would involve chemically processing the plutonium to recover a material called americium for radioisotope applications, while purifying remaining plutonium to be combined with uranium into reactor fuel.
Greg Piefer, CEO of SHINE, says fuel access is among the greatest hurdles for the advanced nuclear reactor industry, noting the challenge involves chemistry and infrastructure as well as policy.
“We’ve spent more than a decade building the capabilities needed to handle complex nuclear materials — recycling used fuel, recovering isotopes, doing the kind of separations work this program calls for,” he said in a statement.
See both releases below.
See more in an earlier story on the company.
— Clarevia Ventures founding partner John Neis has been named chair-elect for the board of the National Venture Capital Association, the investment firm announced.
The Madison-based firm, which was formerly called Venture Investors Health Fund before rebranding last month, touted Neis’ appointment in a recent LinkedIn post. Neis will take over as chair in one year, after first joining the association’s board in 2023.
“I am incredibly honored to have the opportunity to serve in this role,” Neis said in a comment on the post, noting he’s looking forward to working with its current leadership to advance the group’s priorities.
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