SpectronRx Secures $85M for Radiopharmaceutical Growth
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SpectronRx has raised $85 million in funding to expand its radiopharmaceutical manufacturing capacity in Indiana. The investment will help address the global shortage of cancer-treating radioligand therapies and create up to 100 new high-tech jobs in the next two years.
SpectronRx has secured $85 million in funding from OrbiMed to expand its MedIsotope manufacturing and contract manufacturing capacity. The company will use the funds to build a new 150,000 square foot production building at its Grissom Aeroplex campus in Indiana. This expansion will increase production capacity to over 300,000 patient doses annually. The new facility will produce high-purity isotopes, including Technetium-99 and Actinium-225. The investment will help address the global shortage of cancer-treating radioligand therapies. The expansion is expected to generate up to 100 new high-tech jobs in the next two years and boost the local economy.
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