WEST VALLEY CITY, Utah, March 11, 2024 (GLOBE NEWSWIRE) -- Nusano, a physics company transforming the production of medical radioisotopes, cut the ribbon on its new radiochemistry laboratory in West Valley City, Utah on Friday. Known as the Radiance Lab, the 5,000 square foot space will allow the company to develop and implement radioisotope separation and purification processes in advance of Nusano beginning commercial-scale radiotherapeutics ingredient production in early 2025.
“Nusano is less than 12 months away from bringing critical, new radioisotope supplies to researchers, drugmakers and patients. We expect to begin producing non-carrier added lutetium-177 in Q1 2025, followed by actinium-225 in the second half of the year,” said Chris Lowe, CEO of Nusano. “Opening the Radiance Lab is a key milestone in our path to commercialization, providing collaboration and research space that will allow Nusano to offer world-class quality, processes, and scale to our customers.”
Radioisotopes are the active pharmaceutical ingredients used in new and emerging cancer therapies. Existing supply chains for these treatment-enabling resources are often strained, posing a risk to patient care and ongoing drug development. Nusano is working to supply the fight against cancer by combining the company’s expertise in physics and radiochemistry to meet the medical isotope needs of today and enable the cancer radiotherapeutics of tomorrow.
Anna Goldberg, director of Radiochemistry and Production Operations for Nusano, added, “Nusano’s radiochemistry team is a world-class group of experts working at the forefront of their field. The Radiance Lab is both a working laboratory where our chemists will develop methods and procedures to ensure product quality, and an innovation hub where we will explore the development of hard-to-produce and undersupplied radioisotopes. Our goal is to enable drugmakers and researchers to begin exploring cancer therapies using all the radioisotopes that are possible, versus merely those that are available.”
Both Nusano’s Radiance Lab and its production facility are situated approximately 10 minutes from the Salt Lake City airport. The flagship, 190,000 square foot production facility is scheduled to open early 2025. It will include ancillary radiochemistry space, further enhancing the company’s in-house capabilities. The locations were chosen to create a supply chain that will allow the life-changing radioisotopes Nusano produces in Utah to reach drugmakers, clinics and patients across the United States – and many parts of the world – the next day.
“Nusano is revolutionizing radioisotope production and creating exciting new possibilities in cancer care, and it’s happening right here in Utah,” said John Dahlstrom, executive vice president at The Wasatch Group, developer of the building housing Nusano’s Radiance Lab in the new Medical Innovation and Technology Campus in West Valley City, Utah. “We expect Nusano’s success will promote the vibrancy of this biotechnology hub – creating jobs and contributing to the continued growth of Utah’s biotech economy.”
About Nusano
Nusano is a privately held physics company committed to bringing stability and innovation to the rapidly emerging and critically undersupplied medical radioisotopes market. Nusano’s proprietary ion source is smaller and more efficient than existing production methods. This results in significantly greater yields and allows for the simultaneous manufacturing of multiple radioisotopes. Nusano’s technologies will supply the fight against cancer and support diagnostic and therapeutic radiopharmaceutical development. The company’s state-of-the-art production facility opens Q1 2025 in West Valley City, Utah. For more, please visit www.nusano.com.
About Wasatch Group
The Wasatch Group of companies (“Wasatch” or the “Wasatch Group”) is a leader in multiple industries that focus on what we value most, people. Our portfolio spans the industries of real estate development, commercial and retail development and management, multi-family development and management, technology, venture capital, consumer products and more! With over 33 years of doing business, we are committed to ensuring a future of growth and opportunity for not only our people who make Wasatch what it is, but also in providing responsible stewardship and opportunities in the communities in which we work and serve. The Wasatch Group of real estate companies primarily operates in the western United States, owning and managing real estate in Utah, Arizona, Idaho, Washington, California, Colorado, Wyoming, Hawaii and Texas. Our current portfolio includes over 17,000 residential units, and four million square feet of commercial real estate. Wasatch is also heavily involved in venture companies that operate throughout the United States and various parts of the world.
Contacts
Nusano:
- Media: Scott Larrivee, Nusano, 608-345-6629, scott.larrivee@nusano.com
- Investor Relations: Joyce Allaire, LifeSci Advisors, LLC, 212-915-2569, jallaire@lifesciadvisors.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d1583555-e506-454c-825d-6a29b7390395
