Artms, Inc., a Vancouver, British Columbia, Canada-based developer of technology that transforms the production of diagnostic imaging isotopes, raised US$19m in Series A financing.
The round was led by Deerfield Management Company with participation from GHS Fund (Quark Venture LP and GF Securities).
The company intends to use the funds to continue to collaborate with industry partners with the aim of developing cyclotron produced 68Ga-based diagnostic and to expand the commercialization of the QISTM for the production of additional critical medical isotopes.
Led by Charles S. Conroy, Chief Executive Officer, Artms provides the QUANTM Irradiation SystemTM (QISTM), which enables decentralized, and local production of important medical isotopes including gallium-68 (68Ga), zirconium-89 (89Zr), technetium‐99m (99mTc) and copper-64 (64Cu).
The technology utilizes locally-based medical cyclotrons, empowering the user to control their supply chain and produce high volumes of innovative high-quality radiopharmaceutical products.