Medical Technologies Firm to Create 100+ Jobs at New Wisconsin Facility
SHINE serves the medical tracer industry sector by providing medical ingredients used to detect/treat heart disease and cancer in nearly 100,000 patients each day.
"As a company that grew in partnership with research conducted at UW-Madison and the Morgridge Institute for Research, one of our primary goals was to grow this business in Wisconsin and leverage its talented workforce," said SHINE's Founder/CEO Greg Piefer, Ph.D.
The company's proposed facility, to be located in the STH 11 Business Park, will have the capacity to produce enough moly-99 to supply about half of the U.S. nuclear medical isotope needs. (Moly-99 is a medical isotope to help detect heart disease and determe stages of cancer progression.) Historically, the majority of the moly-99 used in the U.S. has been produced in Canada or from other locations across the globe.
Pending formal approval, SHINE's project will be supported by a combination of resources, including a Janesville Tax Increment Financing (TIF) package and assistance from the Wisconsin Economic Development Corporation. The facility marks the second medical technologies announcement in Rock County within the last eight months.
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