Niowave is a company that manufactures medical radioisotopes used in diagnostic and therapeutic treatments. It specializes in producing isotopes such as molybdenum-99 (Mo-99), yttrium-90, and actinium-225 from uranium and radium targets using its proprietary superconducting electron linear accelerator technology. Niowave's core technology involves using an accelerator-driven subcritical reactor (ADSR) system with low-enriched uranium instead of a traditional nuclear reactor, eliminating the need for highly enriched uranium.
In April 2023, Niowave announced a USD 20 million expansion of its production facility near Capital Region International Airport in Michigan to increase production capacity of medical radioisotopes. This expansion was projected to create 35 new technical jobs in the region. Niowave's molybdenum-99 production process received a USD 15 million federal grant in 2019 to help jumpstart production of this critical medical isotope used in imaging procedures for heart disease and cancer.
In 2022, Niowave entered into a USD 5 million collaboration and supply agreement with Fusion Pharmaceuticals to develop and supply actinium-225 for Fusion's pipeline of targeted alpha therapies. As of July 2022, Niowave was ramping up production-scale operations of actinium-225 at an FDA-compliant facility.
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