Energy Fuels Inc, an American uranium and rare earth element company, has completed the acquisition of RadTran LLC, a manufacturer of medical isotopes. This is reported in a press release from Energy Fuels.
The deal is aimed at implementing Energy Fuels' plans to develop and produce medical isotopes used to treat cancer using RadTran technology to isolate Ra-226 and Ra-228 from uranium and thorium process streams, which will significantly expand Energy Fuels' capabilities to supply isotopes used in new targeted alpha therapy (TAT) methods for the treatment of cancer.
As part of the deal, Energy Fuels plans to combine processing facilities at the White Mesa plant (Utah), the only authorized and operating uranium plant in the United States, with RadTran's intellectual property in the field of separation and concentration of radionuclides.
With successful production at the research and development level, capital investments in future commercial production facilities will be supported by radium acquisition agreements.
Since July 2021, Energy Fuels and RadTran, as part of a strategic alliance agreement, have been working to assess the possibility of extracting Ra-226 and Ra-228 from uranium processing streams at the Energy Fuels plant in White Mesa (Utah). The global shortage of Ra-226 and Ra-228 is a major obstacle to the promotion and commercialization of these treatments.
Energy Fuels is an American producer of uranium and vanadium, as well as rare earth elements (REE), which are key factors in the production of environmentally friendly energy. In addition, the company owns several uranium-vanadium facilities, as well as three large-scale projects that are at the stage of obtaining permits and can potentially additionally produce more than 4 million pounds of U3O8 per year. The headquarters is located in Lakewood, Colorado. The company's shares are traded on the New York Stock Exchange.
RadTran is a company producing medical isotopes for the treatment of cancer. The company specializes in the development of new methods of isotope production, in particular, for use in targeted alpha therapy (TAT) for oncological diseases. The headquarters is located in Centennial (Colorado).
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