December 18th, 2017 – Today ARTMS Products Inc., a TRIUMF-borne company and leader in the development of novel technologies for producing the globe’s most-used diagnostic imaging isotope, received a venture investment of US$3M. The investment comes from Quark Venture Inc. and GF Securities, through their Global Health Science Fund, which invests in world-leading health sciences technology platforms and product companies around the world.
ARTMS and the TRIUMF-developed technology at its heart that enables local hospital-based cyclotrons to produce medical isotopes play a crucial role in mitigating the risk of global isotope shortages. By replacing traditional reactor-based systems for producing isotopes like technetium-99m (an isotope used in over 80 percent of nuclear medicine imaging procedures), ARTMS and its flagship Quantm Irradiation System (QIS®) technology have the potential to significantly remodel isotope production for the better.
“ARTMS has already demonstrated proof of concept in Tc-99m production and during its use in human clinical testing, thereby solidifying this technology as a viable alternative that allows for a safe, reliable and environmentally-sound supply of a critical medical isotope,” said Dr. Paul Schaffer, Chief Executive Officer of ARTMS Products and Associate Laboratory Director of Life Sciences at TRIUMF.
Today’s investment will enable ARTMS to complete its transition to stand-alone company. ARTMS will also seek to develop QIS® to enable the production of other critical isotopes like gallium-68 (Ga-68) and copper-64 (Cu-64).
Congratulations to Dr. Schaffer and the entire ARTMS team!
For the full press release, see here.
(with quotes from the ARTMS press release)