Shine Medical Technologies said last week in an SEC filing that it raised $27.2 million in a round of debt financing. Over 200 investors have contributed to the $29 million offering, which made its 1st sale on October 11, 2013.
Monona, Wis.-based Shine Medical makes radioactive isotopes for medical diagnostic purposes such as detecting and treating cancer, according to the company’s website. Its primary product is molybdenum-99, a parent isotope to the light-emitting element, technetium-99m, which is given to nearly 50,000 Americans every day to diagnose cancer and heart disease. Technetium-99m is used in over 80% of nuclear diagnostic procedures around the world, Shine wrote.