- Janesville-based Shine Medical Technologies will move into a prototype production facility in January, where the company will test its technology for producing radioisotopes used in diagnostic medical imaging procedures, the Janesville Gazettereported. Shine and some of its competitors have been racing to start producing the isotope molybdenum-99 in an effort to avert a looming potential shortage.
Shine reportedly plans to break ground by June 2018 on a full-scale production plant that will be located next to the prototype building, and complete construction of the larger facility in 2019.
- Madison-based Cellectar Biosciences (NASDAQ: CLRB) announced a partnershipwith another cancer drug developer, Newtown, PA-based Onconova Therapeutics (NASDAQ: ONTX). Under the terms of the agreement, Onconova will provide drug compounds to Cellectar, which will link them to its drug delivery platform. Cellectar’s technology is based in part on phospholipid ethers, which are designed to help kill tumors while minimizing the amount of healthy tissue destroyed in the process.