Search Results for: NorthStar Medical

FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant

A Wisconsin company seeking to become the first domestic producer in decades of a crucial medical isotope said Tuesday that it received another key approval from the FDA. NorthStar Medical Radioisotopes said the agency approved a still-to-be-built facility at the company’s Beloit, WI, headquarters to manufacture a device that could be key to supplying a … Continue reading “FDA Approves NorthStar Medical to Make Isotope Generator at WI Plant”

NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up

[Updated 4/25/19, 11 am CT. See below.] U.S. technology startups continue to pull in heaps of cash to try and stave off shortages of a crucial medical radioisotope. NorthStar Medical Technologies said this week it closed a deal to receive up to $100 million in secured debt financing from funds managed by Oberland Capital Management. … Continue reading “NorthStar Secures $75M+ as Medical Radioisotope Competition Revs Up”

FDA Nod for NorthStar Device Clears Way to Make Medical Radioisotope

A Wisconsin company has moved one step closer to becoming the first domestic producer in decades of a crucial medical radioisotope after receiving a key approval from the FDA on Thursday. The agency approved a device developed by Beloit, WI-based NorthStar Medical Radioisotopes that could be key to supplying a radioisotope whose scarcity has sparked … Continue reading “FDA Nod for NorthStar Device Clears Way to Make Medical Radioisotope”

Shine, NorthStar Spar as Medical Radioisotope Race Continues

The quest to become the first domestic producer in decades of a crucial medical radioisotope is heating up, as the industry tries to avert a looming potential shortage when a key supplier in Canada begins winding down production next year. The interesting, and apparently coincidental, twist is that two of the companies leading that competition, … Continue reading “Shine, NorthStar Spar as Medical Radioisotope Race Continues”

After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield

[Update 11/27/18 8:34 p.m.] Following the publication of an Xconomy report that Shine Medical Technologies appeared to be on the verge of landing a nine-figure investment from Deerfield Management, the two companies said Tuesday that Deerfield will invest up to $150 million in Shine to support the construction of a radioisotope-manufacturing facility. [Story originally published … Continue reading “After Deal Stalled, Shine Medical Eyeing Up to $160M from Deerfield”

NorthStar Names Merrick CEO, Appoints Hendricks as Board Chair

NorthStar Medical Technologies, which is seeking to become the first U.S. company in decades to domestically produce a widely used medical radioisotope, said it has appointed Stephen Merrick as CEO. Merrick joined Beloit, WI-based NorthStar in 2016 as the company’s chief operating officer and was later given the title of president, which he’ll continue to … Continue reading “NorthStar Names Merrick CEO, Appoints Hendricks as Board Chair”

Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist

Catch up on news from Wisconsin’s innovation community with these recent headlines: —Foxconn paid nearly $15 million for an office building in downtown Milwaukee that will serve as the company’s North American headquarters, the Milwaukee Journal Sentinel reported. The location chosen by the Taiwanese electronics manufacturing giant does not come as a major surprise; in … Continue reading “Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist”

NorthStar, Fiserv, CUNA & More: This Week’s Wisconsin Watchlist

Stay current on news from Wisconsin’s innovation community with these recent headlines: —NorthStar Medical Radioisotopes, which is seeking to become the first U.S. company in decades to domestically produce a widely used medical radioisotope, broke ground on a new 20,000-square-foot production facility at its Beloit headquarters, the Janesville Gazette reported. NorthStar plans to produce and … Continue reading “NorthStar, Fiserv, CUNA & More: This Week’s Wisconsin Watchlist”

Shine Medical Raises $2.2M to Stay in Race for Vital Imaging Isotope

Shine Medical Technologies, a Janesville, WI-based company that’s working to resume domestic production of a vital medical isotope, has raised another $2.2 million from investors, says vice president of business development Katrina Pitas. According to a document filed with federal securities regulators, Shine raised more than $27.1 million in debt financing in January. With the … Continue reading “Shine Medical Raises $2.2M to Stay in Race for Vital Imaging Isotope”

Shine Medical Awarded $10M by Federal Nuclear Security Agency

Shine Medical Technologies, which has for years been working to resume domestic production of a crucial medical isotope, says it has been awarded $10 million in funding from the National Nuclear Security Administration (NNSA), part of the U.S. Department of Energy. Janesville, WI-based Shine received the funding through a program the NNSA created in 2010—the … Continue reading “Shine Medical Awarded $10M by Federal Nuclear Security Agency”

Shine Medical Technologies to Move to Janesville Later This Year

Shine Medical Technologies has for years planned to build a manufacturing facility in Janesville, WI, where it would produce a crucial medical isotope. Now the company says it will move its headquarters to that city later this year, as it prepares to make the plant a reality. Shine is currently based in Monona, WI, about … Continue reading “Shine Medical Technologies to Move to Janesville Later This Year”

Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist

Job cuts, expanded radioisotope production, and several new funding rounds are among these recent headlines from Wisconsin’s innovation community: —Exact Sciences (NASDAQ: [[ticker:EXAS]]) recently eliminated 29 employees, the Wisconsin State Journal reported. The Madison-based biotech’s growth has been brisk in recent years; Exact’s current headcount is reportedly about 750, up from 110 in early 2014. … Continue reading “Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist”

NorthStar Gets $11.8M to Support Radioisotope Production Development

NorthStar Medical Radioisotopes has received an $11.8 million grant from the National Nuclear Security Administration, part of the U.S. Department of Energy, the company announced Thursday. The startup, based in Madison, WI, said it will use the funding to continue its march toward commercial production of molybdenum-99, the material that decays into technetium-99m, the most … Continue reading “NorthStar Gets $11.8M to Support Radioisotope Production Development”

Wisconsin Roundup: NorthStar, StartingBlock Madison, 5Nines & More

Here are some of the past week’s major headlines from Wisconsin’s tech and innovation community: —Madison-based NorthStar Medical Radioisotopes has partnered with Westinghouse Electric to explore producing medical radioisotopes in commercial nuclear reactors, according to a press release issued by Westinghouse. The two companies aim to address the global shortage of molybdenum-99—which is used to … Continue reading “Wisconsin Roundup: NorthStar, StartingBlock Madison, 5Nines & More”

Wisconsin Roundup: Marquette, NorthStar, Forte Research, & More

Here’s a smattering of the latest news from Wisconsin’s innovation and technology community: —Madison-based NorthStar Medical Radioisotopes said it completed its first large-scale test run of producing molybdenum-99 (Mo-99), the parent isotope used to make technetium-99m (Tc-99m), the most widely used radioisotope in medical diagnostic imaging. The work was done at the University of Missouri … Continue reading “Wisconsin Roundup: Marquette, NorthStar, Forte Research, & More”

Startups Race to Solve Looming Medical Radioisotope Crisis

There’s a shortage of radioactive material that few people outside the medical community know about. And the best hope for solving the problem—and reduce nuclear proliferation risks linked to it—rests in the hands of a handful of startups operating on a mix of government and private money. The medical isotope technetium-99 is injected into tens … Continue reading “Startups Race to Solve Looming Medical Radioisotope Crisis”

Deerfield Pouring $125M Into WI Startup Shine Medical Technologies

[Updated 10/10/14, 7:55 a.m. See below.] Shine Medical Technologies, the Monona, WI-based startup that aims to be the first domestic producer of medical radioisotopes, said today it has inked an investment deal with New York-based Deerfield Management for up to $125 million. The investment is a mammoth one for a Wisconsin startup, given that a … Continue reading “Deerfield Pouring $125M Into WI Startup Shine Medical Technologies”

Shine Medical Technologies Raises $2.4M to Make Medical Isotopes

[Updated 9/3/14, 2:22 p.m. See below.] Shine Medical Technologies, the Monona, WI-based startup racing to become the first domestic producer of medical isotopes, said today that it has raised $2.4 million from undisclosed investors. The company, founded in 2010, has raised more than $35 million to date through equity investments, debt financing, and other sources, … Continue reading “Shine Medical Technologies Raises $2.4M to Make Medical Isotopes”

Mirador Biomedical, Playing ‘Small Ball’ in Medical Devices, Pockets $1.5M Financing

Seattle-based Mirador Biomedical was able to win FDA approval of its first medical device on a shoestring budget of a shade over $1 million, and now investors are rewarding it with some more cash to see what it can do in the marketplace. Mirador has pulled in another $1.5 million in its Series B financing … Continue reading “Mirador Biomedical, Playing ‘Small Ball’ in Medical Devices, Pockets $1.5M Financing”

Mirador Biomedical Seeks to Prevent Hospital Errors with Simple Digital Sensor

Justin Hulvershorn learned in medical school about one of the everyday procedures done in hospitals, when a patient has a catheter inserted into a central vein to deliver fluids or drugs. In one memorable moment from about 10 years ago, the medical professional missed the vein and hit one of the biggest arteries that carries … Continue reading “Mirador Biomedical Seeks to Prevent Hospital Errors with Simple Digital Sensor”

Zymo Boss Sees Immunex Parallel, Arch Startup Bags $7M, Northstar Folds, & More Seattle-Area Life Sciences News

The news cycle for Seattle biotech is revving up again, after everybody but the lab mice took a rest during the holidays. We found some predictable doom and gloom (the shutdown of Northstar Neuroscience) to go with a more upbeat exclusive about a cancer drugmaker emerging in town (Qwell Pharmaceuticals.) Here are the past couple … Continue reading “Zymo Boss Sees Immunex Parallel, Arch Startup Bags $7M, Northstar Folds, & More Seattle-Area Life Sciences News”

Northstar Neuroscience Shuts Down, Ending Experimental Depression Trial

Northstar Neuroscience is toast. The Seattle-based medical device company, which failed to develop an electrical stimulation machine that would enable stroke patients to regain arm movement, said today its board has decided to shut down the company and liquidate its assets. The company (NASDAQ: [[ticker:NSTR]]) will lay off most of its remaining employees as it … Continue reading “Northstar Neuroscience Shuts Down, Ending Experimental Depression Trial”

Boston Hedge Fund Lashes Northstar Neuroscience, Urges Liquidation

Pressure is mounting once again on Northstar Neuroscience to fold up its tent and go home. The Seattle-based medical device company got hit today with an angry letter from one of its largest shareholders, Boston-based RA Capital, which urges the board to shut down the company and distribute all of its remaining cash and assets … Continue reading “Boston Hedge Fund Lashes Northstar Neuroscience, Urges Liquidation”

Northstar Gets OK For Second Depression Study

Northstar Neuroscience, a Seattle medical device company, said today the FDA has given conditional approval to run a second study of its brain-stimulation device against depression. Northstar (NASDAQ: [[ticker:NSTR]]) said it plans to start enrolling the first of 24 patients in the study, called Prospect II, before the end of the year. Preliminary results should … Continue reading “Northstar Gets OK For Second Depression Study”

Four Layoffs and a Funeral: Vivendi, Northstar, Imperium, and CarDomain Cut Staff, Dipiti Shuts Doors

Heading into the dog days of August, just a reminder that not all is happy in sunny Seattle. In the past week, we’ve seen four area tech companies confirm significant layoffs and one startup close its doors. The bad news is not limited to one or two tech sectors, either: it cuts across a wide … Continue reading “Four Layoffs and a Funeral: Vivendi, Northstar, Imperium, and CarDomain Cut Staff, Dipiti Shuts Doors”

Northstar Neuroscience Huddles to Consider Unsolicited Takeover Bid

Northstar Neuroscience is in one tight spot. The Seattle-based medical device company’s lead product candidate for stroke patients failed in clinical trials on Jan. 22, and 83 percent of its stock value (NASDAQ: [[ticker:NSTR]]) evaporated in a heartbeat. Then yesterday, San Diego-based Tang Capital Partners, its largest shareholder, made an unsolicited bid to buy the … Continue reading “Northstar Neuroscience Huddles to Consider Unsolicited Takeover Bid”

Northstar Neuroscience Shares Climb on Tang Capital Bid

Northstar Neuroscience shares shot up 21 percent today after Tang Capital Partners announced it has offered $2.25 a share in cash to purchase the Seattle-based medical device company. Northstar’s stock collapsed on Jan. 22, falling 83 percent to $1.36 a share, after it said its lead product candidate failed to restore arm movement for stroke … Continue reading “Northstar Neuroscience Shares Climb on Tang Capital Bid”

WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More

[Updated 7/23/19, 8:48 am CT. See below.] It’s time to catch up on some recent Wisconsin innovation headlines: —CMFG Ventures, the venture capital arm of Madison-based CUNA Mutual Group, announced today that it’s creating a financial technology incubator in partnership with the nonprofit Filene Research Institute, a consumer finance think tank. The incubator is seeking … Continue reading “WI Watchlist: E-Scooters, CUNA Incubator, Curate Funding & More”

Foxconn, Gener8tor, URP, & More: This Week’s Wisconsin Watchlist

Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Foxconn purchased a seven-story office building in downtown Milwaukee that will serve as the Taiwanese multinational’s Wisconsin headquarters, according to a news release issued by Gov. Scott Walker. Foxconn, which is perhaps best known for assembling iPhones, iPads, and other gadgets … Continue reading “Foxconn, Gener8tor, URP, & More: This Week’s Wisconsin Watchlist”

Wisconsin Roundup: TAI Diagnostics, WhyHigh, DevCodeCamp & More

As the leaves change colors and kids prepare to trick-or-treat, the Badger State’s tech and innovation community has been staying busy. Here are some of the past week’s notable happenings: —TAI Diagnostics, a company started by Medical College of Wisconsin researchers that’s aiming to develop a blood-based test to determine if heart transplant recipients are properly … Continue reading “Wisconsin Roundup: TAI Diagnostics, WhyHigh, DevCodeCamp & More”

Phoenix Nuclear Labs Looks to Diversify in Defense, Energy

In the race to start domestic production of molybdenum-99, a crucial medical radioisotope used in diagnostic imaging, Shine Medical Technologies is betting big on neutron-generating accelerator technology developed by Phoenix Nuclear Labs. Yet Phoenix, a 10-year-old company, is about more than isotopes. It’s also working on applications in military imaging and solar-cell production. Greg Piefer, … Continue reading “Phoenix Nuclear Labs Looks to Diversify in Defense, Energy”

Wisconsin Roundup: Johnson Controls, Epic, American Family & More

[Corrected 9/9/15, 10:16 am. See below.] Here are some of the past week’s major headlines from Wisconsin’s tech and innovation community: —Johnson Controls (NYSE: [[ticker:JCI]]) announced it sold one of its major divisions, Global Workforce Solutions, to the Los Angeles-based CBRE Group (NYSE: [[ticker:CBG]]) for $1.4 million. As part of the deal, Glendale-based JCI will provide … Continue reading “Wisconsin Roundup: Johnson Controls, Epic, American Family & More”

Wisconsin Roundup: Techstars, Silatronix, Virent, MyHealthDirect, & More

Two Wisconsin startups are in the midst of trying to raise more than $4 million each from investors, while two energy-related startups are making progress toward selling their products. Read on for details about these recent announcements, and more, from Wisconsin’s innovation community. —Silatronix has raised $2.8 million of a possible $4.2 million equity funding … Continue reading “Wisconsin Roundup: Techstars, Silatronix, Virent, MyHealthDirect, & More”

Wisconsin Roundup: Exits, New Jobs, FDA Approval, & More

In this week’s roundup of Wisconsin innovation and technology news, we’re tracking a startup’s exit, ballooning staff at the state’s largest healthtech firm, FDA approval for a medical device, a groundbreaking for a medical isotopes factory, and the new leader of a key Madison business park. Read on for details. —Madison-based Idle Free Systems was … Continue reading “Wisconsin Roundup: Exits, New Jobs, FDA Approval, & More”

With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode

It’s often not obvious precisely when an early-stage business reaches the point where it outgrows the “startup” label. Case in point: Madison, WI-based Phoenix, which sells neutron generators and provides image-reading services to organizations in industries ranging from healthcare to renewable energy to aerospace and defense. “From a cultural standpoint, everybody’s starting to feel the … Continue reading “With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode”

Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal

[Updated 11/28/18 10:52 a.m. See below.] Shine Medical Technologies, a Janesville, WI-based company that’s working to resume domestic production of a vital medical isotope, said Tuesday that Deerfield Management, a New York-based investing firm, has agreed to pour up to $150 million into Shine’s coffers in the coming years. Shine executives had previously told company shareholders … Continue reading “Shine Raises $30M, Could Add $150M More After Inking Deerfield Deal”

ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More

[Note: Ben Fidler co-authored this report.] This weekend, San Diego will host the annual American Society of Hematology conference, the largest U.S. medical gathering to get the latest on blood diseases, and a venue for updates on some of the most cutting-edge biotechnologies that only a few years ago seemed like science fiction. Using the … Continue reading “ASH 2018: A Guide to the Latest for Blood-Borne Cancers and More”

UW-Madison to Upgrade Engineering Campus With $100M Foxconn Gift

Foxconn, a leading Taiwanese contract manufacturer constructing a huge electronic display assembly plant in Southeastern Wisconsin, announced a $100 million gift to the state’s flagship public university Monday. The company’s gift to the University of Wisconsin-Madison will support research and development of new technologies statewide, Foxconn said. The nine-figure gift from Foxconn is one of … Continue reading “UW-Madison to Upgrade Engineering Campus With $100M Foxconn Gift”

Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients

Bluebird Bio has new clinical data this morning that, while early and only from a handful of patients, are the most significant evidence to date that gene therapy might help people with sickle cell disease, a genetic disorder without an effective treatment that afflicts millions around the world. The data, presented at the European Hematology … Continue reading “Bluebird’s Upgraded Gene Therapy Shows Promise For Sickle Cell Patients”

Exact Sciences, Shine, Redox & More: This Week’s Wisconsin Watchlist

Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —Exact Sciences said it plans to raise up to $600 million through the sale of notes that can be converted into cash or shares of the company’s common stock, starting in 2025. Madison-based Exact (NASDAQ: [[ticker:EXAS]]) is developing several screening tests … Continue reading “Exact Sciences, Shine, Redox & More: This Week’s Wisconsin Watchlist”

Phoenix Pulls in $12M to Fuel Growth of Neutron Generators

Things are accelerating at Phoenix. The Monona, WI-based business, which manufactures particle accelerator-based neutron generators and other machines, has outgrown its current headquarters and plans to break ground on a new home next year, says vice president of business development Evan Sengbusch. Phoenix, which recently shortened its name from Phoenix Nuclear Labs, also plans to … Continue reading “Phoenix Pulls in $12M to Fuel Growth of Neutron Generators”

Gener8tor, Shine, Cellectar, & More: This Week’s Wisconsin Watchlist

Stay current on news from Wisconsin’s innovation community with these recent headlines: —Gener8tor announced the six startups chosen to receive investments and mentorship during its latest 12-week accelerator program, which kicked off last month and runs through November. The program is being run out of Gener8tor’s Milwaukee offices, and three of the companies in the … Continue reading “Gener8tor, Shine, Cellectar, & More: This Week’s Wisconsin Watchlist”

Wisconsin Sizes Up Recent, Potential Future Changes in Manufacturing

When Greg Piefer founded Phoenix Nuclear Labs, in 2005, he was not expecting that it would one day lead to the construction of a large medical isotope manufacturing facility. In the dozen years it’s been operating, Monona, WI-based Phoenix has developed particle accelerator technology with applications in areas such as weapons inspection, solar cell production, … Continue reading “Wisconsin Sizes Up Recent, Potential Future Changes in Manufacturing”

Bluebird Reports Early Results From Upgraded Gene Therapy

One of the year’s most closely watched clinical studies could lead to a landmark approval of a gene therapy and throw wide open the debate over how to pay for expensive drugs. The first drips of data have emerged. Bluebird Bio (NASDAQ: [[ticker:BLUE]]) says the first three patients—of 15 total expected—have had good results from … Continue reading “Bluebird Reports Early Results From Upgraded Gene Therapy”

U.S. Army Awards Phoenix Nuclear Labs $3.6M in Contracts

Phoenix Nuclear Labs, which has developed particle accelerator-driven technology with applications in areas such as weapons inspections and medical imaging, said on Tuesday that it had been awarded two contracts by the U.S. Army worth a combined $3.6 million. Under the terms of the first contract, valued at $2.6 million, Monona, WI-based Phoenix will deliver to the … Continue reading “U.S. Army Awards Phoenix Nuclear Labs $3.6M in Contracts”

Ground Breaking: Shine Receives Permit from Regulator to Build Plant

Shine Medical Technologies says it has received approval from a federal regulator to build a manufacturing facility where the company plans to produce a crucial medical isotope. The Nuclear Regulatory Commission authorized the issuance of a construction permit to Shine Thursday, says Katrina Pitas, the company’s vice president of business development. The facility will be … Continue reading “Ground Breaking: Shine Receives Permit from Regulator to Build Plant”

BrightStar Reveals Phoenix Investment, Sale of $500K in Tax Credits

BrightStar Wisconsin Foundation has made its first investment of 2016 and has sold $500,000 in “early-stage seed” tax credits to several individuals, the foundation said this week. Phoenix Nuclear Labs, a Madison, WI-based startup that has developed particle accelerator technology with applications in areas like medical imaging and weapons inspection, is raising a funding round … Continue reading “BrightStar Reveals Phoenix Investment, Sale of $500K in Tax Credits”

Shine Announces New Funding Total, Says Building Plans Are On Track

Shine Medical Technologies, a Madison, WI-based startup that’s part of the race to produce a vital medical isotope domestically, has now raised nearly $50 million in total, vice president of business development Katrina Pitas said in an e-mail. In October, Greg Piefer, Shine’s founder and CEO, told Xconomy the company had raised about $45 million … Continue reading “Shine Announces New Funding Total, Says Building Plans Are On Track”

This Week’s Wisconsin Watch: Rockwell, Connecture, Shine, & More

Here are some of the major Wisconsin innovation news items from the past week: —Milwaukee-based Rockwell Automation (NYSE: [[ticker:ROK]]) announced it’s working with software giant Microsoft (NASDAQ: [[ticker:MSFT]]) and Cambridge, MA-based Nubisa to expand its mobile toolkit for workers in industrial settings, where there may not be reliable wireless Internet. Technology from Project Thali, a … Continue reading “This Week’s Wisconsin Watch: Rockwell, Connecture, Shine, & More”