SHINE founder and CEO Greg Piefer (right) visits with former House Speaker Paul Ryan at the company’s headquarters on Aug. 23, 2019. Mr. Ryan is joining SHINE’s board of directors.
JANESVILLE, Wis., Aug. 26, 2019 – SHINE Medical Technologies, LLC today announced the appointment of Paul D. Ryan to the company’s board of directors.
Mr. Ryan brings nearly three decades of experience with complex national and international health care, business, energy and other issues to SHINE’s board. He was the 54th speaker of the U.S. House of Representatives and represented the 1st Congressional District in Southern Wisconsin, which includes Janesville, for 20 years. Before being elected speaker, he served as chairman of the House Ways & Means and Budget Committees. Mr. Ryan was his party’s vice-presidential nominee in 2012.
“Paul is a visionary with a wealth of experience and an expansive network that are welcome additions to SHINE’s board,” said Greg Piefer, founder and CEO of SHINE. “Paul will provide critical guidance to SHINE as we expand into domestic and international markets that require deep mastery of global policy, economics and leadership. His knowledge of domestic and international health care and energy policy will be an invaluable guide to us. We also are excited to be working with someone who cares about building great things in Janesville as deeply as we do.”
Mr. Ryan was born, raised and lives in Janesville, Wis., where SHINE is headquartered and is building its medical isotope production facility.
“I am excited to be joining SHINE’s board at this important time in the company’s development,” Mr. Ryan said. “SHINE is uniquely equipped to create a reliable global supply of lifesaving medical isotopes, which would allow patients around the world to receive diagnosis and treatment when they need it most. Companies like SHINE play an important role in the delivery of cutting-edge health care and I will be able to help the company continue to grow.”
About Medical Isotopes
Medical isotopes are radioisotopes that are used in the diagnosis and treatment of disease. Molybdenum-99 (Mo-99) is a radioisotope that decays into the diagnostic imaging agent technetium 99m (Tc-99m). The workhorse of nuclear medicine, Tc-99m is used in more than 40 million medical imaging procedures each year, primarily in stress tests to diagnose heart disease and to stage cases of cancer. SHINE was founded to deploy a safe, cost-effective and environmentally friendly technology to produce a variety of medical isotopes, including Mo‑99. Roughly one percent of all Mo-99 in the world decays every hour, meaning it must be produced continuously. Current production is limited to only a handful of government-owned nuclear research reactors, the majority of which are overseas.
About SHINE Medical Technologies, LLC
Founded in 2010, SHINE is a development-stage company working to become a manufacturer of radioisotopes for nuclear medicine. The SHINE system uses a patented, proprietary manufacturing process that offers major advantages over existing and proposed production technologies. It does not require a nuclear reactor, uses less electricity, generates less waste and is compatible with the nation’s existing supply chain for Mo-99. In 2014, SHINE announced the execution of Mo-99 supply agreements with GE Healthcare and Lantheus Medical Imaging. In 2015, with the help of Argonne National Laboratory, GE Healthcare demonstrated that SHINE Mo-99 can act as a drop-in replacement for reactor-based Mo-99. In 2016, SHINE received regulatory approval from the Nuclear Regulatory Commission to construct its production facility. The company began construction of the facility in the spring of 2019.