Nuclear medicine startup ARTMS Products raises $26.4 million CAD Series A

May 22 10:05 2020 Print This Article

Vancouver-based startup ARTMS Products, which produces medical isotopes, has raised a $26.4 million CAD ($19 million USD) Series A funding round. This round brings the company’s total funding to more than $30 million CAD ($26 million USD).

“This funding gives us the financial flexibility to… revolutionize the nuclear medicine industry.”

The round was led by New York-based Deerfield Management with investment from existing investor Global Health Science (GHS) Fund, a seed investor also based in Vancouver. A spokesperson for the company told BetaKit the round closed on May 13. 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.

Read More

About Article Author

Betakit

BetaKit is a new publication dedicated to providing original, real-time reporting and analysis of emerging technology news and global innovation. Built by the team behind Sprouter.com, BetaKit draws upon an established community of over 80,000 emerging technology founders who are building the next big thing.

Related Items

The state of COVID-19 testing

In these unprecedented times, we know that controlling the spread of novel coronavirus requires social distancing and testing. While all of us are doing our parts to stay at home, there’s a lot of confusion, chaos and frustration surrounding coronavirus testing in the US.  Before going further, ...

Security tips for work from home

With many companies moving to work from home (WFH) over the past few weeks, our portfolio company Kobalt (which provides security as a service for small-and mid-sized companies) has been getting a lot of calls from organizations that have had suffered incidents related to remote work. This is not o ...

Version One quarterly news and COVID-19 response

This has been the longest quarter ever. Early January seems like an eternity ago. Countries, communities and households have been turned upside down.  This time of year, we normally provide a portfolio update that highlights the various product launches, accolades and funding announcements from th ...

Lightspeed sees record uptake amid COVID-19 despite concerns over reduced demand

Montreal-based Lightspeed POS has released its financial results for the fiscal fourth quarter and full fiscal year, both ending March 31, 2020. All figures reported are in US dollars. Lightspeed’s total revenue grew 70 percent to $36.3 million in Q4 and grew 56 percent to $120.6 million in the f ...

“E” vs “SG” in ethical investing: how sustainable is mollification-by-cherrypicking

In the great game of whack-a-mole that is capital raising in Canada’s oil patch, it must be frustrating, for those whose full-time job when there isn’t a global pandemic is whacking the moles of ESG criteria on which they feel their companies may be vulnerable to criticism and hence subject to ...

Did wind-generated electricity displace gas-generated electricity in Ontario in June 2019?

Financiers of green energy projects often claim in public filings that the energy generated by the projects they have financed has avoided some definite number of tons of CO2 emissions. Run the numbers, and you usually find they have assumed some annual capacity factor, say 35 percent in the case o ...

Emergency: The Citizen's Guide to Climate Action

Here is the link to the video of my public talk hosted by Academics for Climate - University of Regina held via Zoom on April 28, 2020 entitled 'Emergency: The Citizen's Guide to Climate Action'. This Zoom talk is part of the Academics for Climate Community Series: Towards a Better Understandi ...

Market Update: Investors Optimistic as Global Economies Reopen

The quickest bear market in the history of the US S&P 500 turned into the best 50-day bull market rally in history in May. By market close on June 3, 2020, the S&P 500 Index was up 37.7% from its March 23, 2020 low. This bullish investor sentiment has been based on the continued decline in new coro ...

A deep retrofit of homes and buildings is the megaproject Canada needs

Ramping down carbon emissions from homes and buildings can help us rebuild Canada’s economy after the pandemic. ...

Rebuilding Canada’s economy includes energy resiliency in remote communities (blog)

This is the moment to create a roadmap for a society that is more resilient to these macro shocks – whether they are brought about by a pandemic or climate change. Canada’s response must support a more resilient, healthier economy that is competitive and shows economic strength in a decarbonize ...