The deal brings a long-standing technetium Tc-99m generator operation and SPECT radiopharmaceutical portfolio into SHINE’s nuclear medicine platform.
SHINE announced it has completed the acquisition of Lantheus’ SPECT business, including the North Billerica, Massachusetts, SPECT manufacturing facility and its portfolio of diagnostic radiopharmaceuticals.
The SPECT facility has manufactured TechneLite (a technetium Tc-99 m generator) for 55 years, serving hospitals and imaging centers across North America. The product portfolio also includes SPECT imaging agents Cardiolite (kit for the preparation of technetium Tc99m sestamibi for injection) and Neurolite (kit for the preparation of technetium Tc99m bicisate for injection), as well as Xenon Xe-133 gas for pulmonary imaging. These products are used in diagnostic imaging procedures for cardiac, pulmonary, thyroid, bladder, and other applications.
The acquisition integrates manufacturing expertise, customer relationships, and market position into SHINE’s nuclear medicine business.
“The nuclear medicine supply chain needs to be modernized to keep up with patient needs,” says Greg Piefer, founder and CEO of SHINE Technologies, in a release. “We’re building that now, bringing new technology to bear across both diagnostic and therapeutic markets. This strengthens the entire isotope supply ecosystem and positions SHINE to deliver the reliability healthcare depends on.”
Tapping Leadership
To lead the integration and growth of the SPECT business, SHINE has named Michael Rossi as CEO of SHINE SPECT USA, LLC. Most recently, Rossi served as president and CEO of Y-mAbs Therapeutics, where he led the company’s growth and acquisition by SERB Pharmaceuticals. He was general manager of the US business for Advanced Accelerator Applications, a Novartis company, and served as GM of GE Healthcare’s Global SPECT Segment. He also led Jubilant Radiopharma as president, building it into a vertically integrated radiopharmaceutical company. Rossi currently serves on the board of directors for Nucleus RadioPharma.
“I’m excited to join SHINE at this pivotal moment. The SPECT team has built strong customer relationships and operational excellence over decades. Combining that foundation with SHINE’s expanding production capabilities creates the integrated platform the nuclear medicine market needs. I’m looking forward to working with this team to strengthen supply chain security for our customers and patients,” says Rossi in a release.
Nuclear Medicine Platform Now Spans Diagnostic and Therapeutic Applications
SHINE’s Chrysalis facility, currently under development in Janesville, Wisconsin, is designed to become the largest isotope production facility in the world, according to a release from the company. Chrysalis will use fusion-based technology to produce molybdenum-99 (Mo-99), the parent isotope that decays into Tc-99m used in diagnostic imaging. The SPECT business will use the Mo-99, Xe-133, and other isotopes produced at Chrysalis to create an integrated supply chain from production through distribution to patients.
With this acquisition, SHINE’s nuclear medicine platform now spans both diagnostic and therapeutic applications. The North Billerica SPECT facility, operating as SHINE SPECT USA, LLC, brings decades of SPECT production expertise. SHINE currently operates one of the largest Lu-177 production facilities in the western hemisphere, with capacity for up to 100,000 doses annually and the ability to expand to 200,000 doses per year for targeted cancer therapies, according to a release from SHINE.
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