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SHINE Medical Technologies and Phoenix Nuclear Labs have signed an exclusive, long-term development and supply agreement, formalizing a relationship the two companies have had for five years.

Phoenix will provide neutron generators for SHINE to use in a radioisotope manufacturing plant it plans to build in Janesville. SHINE will produce molybdenum-99 which decays into technetium-99m, a substance used in imaging procedures performed on more than 40,000 patients a day to diagnose heart disease and cancer, and to study brain and kidney function.

SHINE, spun off from Phoenix in 2010, will provide an undisclosed amount of funds to Phoenix to refine its technology.

The two companies currently share offices in Monona.

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