Nuclear medicine startup ARTMS Products raises $26.4 million CAD Series A
Vancouver-based startup ARTMS Products, which produces medical isotopes, has raised a $26.4 million CAD ($19 million USD) Series A funding round.
ARTMS aims to address the current global shortage of medical isotopes, which are used as a component of nuclear medicine.
Nuclear medicine involves the application of radioactive substances to provide diagnostic information and treat some medical conditions, by using radioactive substances.
According to the World Nuclear Association, over 40 million nuclear medicine procedures are performed annually, and demand for radioisotopes is increasing at up to five percent each year.
That closure impacted what has been described as an already fragile international supply chain of medical isotopes.
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