Lutetium Dotatate LU-177

Fidelity Management & Research Company, Sumitomo Corporation of Americas, Pelican Energy Partners, Deerfield Management and Oaktree Capital Management participated in the Financing Round JANESVILLE, Wis., Feb. 26, 2026 /PRNewswire/ -- SHINE Technologies, a nuclear fusion company, today announced it has raised $240 million in equity funding, and appointed Dr. Patrick Soon-Shiong, M.D., Executive Chairman of ImmunityBio and founder of NantWorks, to its Board of Directors. The round was led by NantWorks with additional participation from Fidelity Management & Research Company, Sumitomo Corporation of Americas, Pelican Energy Partners, Deerfield Management, Oaktree Capital Management, and other existing investors. The investment advances SHINE's commercial fusion technology across its current portfolio of products and services – providing neutron testing that qualifies mission-critical components for defense and aerospace and supplying radioisotopes that power targeted cancer therapies and diagnostic imaging. The funding also marks the beginning of the company's next stage of growth – developing technology to recycle used nuclear fuel and building toward commercial fusion energy production. "Fusion energy is one of the most important technologies humanity will ever develop — it will forever change how we power our species, and is already having major impact across advanced manufacturing, healthcare and recycling," said Greg Piefer, founder and CEO of SHINE. "Dr. Soon-Shiong is a visionary who has spent his career turning breakthrough science into products that have made the world better. We are honored to have him as a partner." Dr. Soon-Shiong is a physician scientist, serial entrepreneur, and multi-sector investor who has built and sold two major pharmaceutical companies, founded the NantWorks ecosystem spanning healthcare, technology, and media. He has developed a multitude of FDA-approved therapies that have reached patients globally. Across all of it, his research has returned to the same challenge: how to transform cancer care and harness the immune system, and reduce the toxicities of standard high dose chemo-radiation therapy. That conviction aligns directly with where oncology is heading. Lu-177-based therapies deliver targeted radiation precisely to cancer cells, and researchers are actively studying how combining that approach with immune activation could produce more durable patient outcomes. "This partnership is about harnessing powerful science to serve humanity. SHINE's leadership in fusion technology and Lu-177 production aligns with my lifelong mission to make cancer treatment more precise, targeted, and ultimately curative by activating the patient's immune system. Lu-177 is currently approved as a radio ligand targeting prostate cancer cells and the opportunity to further expand this difficult to manufacture technology is exciting. I'm honored to join SHINE's Board as we translate breakthrough science into real-world impact for patients and society," said Dr. Patrick Soon-Shiong, Founder and Executive Chairman of NantWorks and ImmunityBio. In connection with Soon-Shiong's $150 million investment, NantWorks and SHINE have entered a strategic partnership that includes priority access arrangements for Lu-177 supply from SHINE, positioning both organizations to advance the next generation of targeted cancer treatment. SHINE has now raised more than $1 billion in total funding, reflecting sustained investor confidence in its commercially-driven path to fusion energy. 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 and processes, supplying high-quality radioisotopes essential for procedures including diagnosing heart disease and cancer as well as cancer therapy. SHINE currently operates one of the largest Lu-177 production facilities in North America, with capacity for up to 100,000 doses annually with the ability to scale to 200,000 doses per year. Ilumira has shipped to customers in 19 countries across four continents, achieving greater than 95% on-time, in-full delivery since its commercial launch in 2024. 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. SOURCE SHINE Technologies, LLC 21% more press release views with Request a Demo

Construction on a new radioligand therapy plant is slated to kick off this year, with the site expected to come online in 2028, Novartis said. Novartis is wasting little time sketching out the radiopharmaceutical details of its $23 billion U.S. investment push. Shortly after announcing a new manufacturing facility for the class of cancer meds in Florida, the pharma giant is revealing its intention to build another site in Texas. The forthcoming 46,000-square-foot radioligand therapy (RLT) production plant will be set up in Denton, Texas—part of the greater Dallas-Fort Worth area—and becomes the fifth existing or planned radiopharmaceutical manufacturing site in Novartis’ U.S. network, the company said in a Feb. 25 release. Construction is slated to kick off this year, with the site expected to come online in 2028, Novartis said. The plant will generate jobs in fields like bioengineering, advanced manufacturing, quality and operations, although Novartis did not specify how many new hires it has planned.  As it stands, Novartis boasts two approved RLTs—also known as radiopharmaceuticals—in Lutathera and Pluvicto, which are approved by the FDA to treat neuroendocrine tumors and prostate cancer, respectively. Radiopharmaceuticals target cancer cells with a radioactive drug, and they have become an increasingly popular oncology development focus, though the overall number of RLTs approved in the U.S. remains slim. Novartis did not name-drop Lutathera and Pluvicto directly in its announcement, though the company did note that the Denton facility will serve patients in the southern U.S. and “add network capacity as RLT expands into earlier treatment lines and additional tumor types.”  “RLT has the potential to revolutionize cancer care,” Vas Narasimhan, M.D., Novartis’ CEO, said in a statement. “The addition of our fifth RLT manufacturing site in the US strengthens our ability to meet growing demand, building the capabilities needed to deliver these next-generation treatments with the speed and precision they require.”The new Texas RLT plant will join four others across New Jersey, Indiana, California and, most recently, Florida. Back in early January, the company laid out blueprints on a 35,000-square-foot plant for RLT production in Winter Park, Florida, which it expects to come online by 2029. Both facility build-outs form part of the broader $23 billion U.S. investment Novartis announced last April, when it joined a growing group of drugmakers hoping to navigate the Trump administration’s tariff threats through multibillion-dollar manufacturing pledges.At the time, Novartis promised to build and expand 10 U.S. facilities over a five-year stretch, including four new production plants and the two radioligand facilities that have now been unveiled in Florida and Texas. Novartis’ non-RLT projects are expected to tackle manufacturing for biologic drug substances, final drug products, chemical drug substances and oral solids, the company said when it made its U.S. commitment last year.  Separately, Novartis has continued to strike deals in recent months to secure its supply of the radioactive isotopes essential to the production and development of RLTs. Earlier this month, Novartis inked a new deal with radioisotope supplier Niowave to get its hands on a scalable stock of Actinium-225 in support of its RLT portfolio.