NorthStar announces new financial backing to grow radioisotope production

BELOIT — NorthStar Medical Technologies, LLC has secured up to $185 million in financing to continue the companies continued growth.

NorthStar announced a multi-year growth capital facility of up to $185 million with Hercules Capital, Inc. to support NorthStar’s continued growth and expansion. The financing, including $100 million upfront, will accelerate investment in isotope production and in clinical and commercial drug manufacturing capabilities.

The capital will accelerate the expansion of NorthStar’s vertically integrated radiopharmaceutical campus in Beloit, including co-located isotope production and state-of-the-art Contract Development and Manufacturing Organization (CDMO). This includes the scale-up of commercial production of no-carrier-added Actinium-225 (n.c.a. Ac-225) to meet growing demand for next-generation targeted alpha therapies.

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