Deerfield
About Deerfield

Launched in 1994, Deerfield Management Company is an investment firm dedicated to advancing healthcare through information, investment, and philanthropy—all toward the end goal of cures for disease, improved quality of life, and reduced cost of care.

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Investment

Supporting companies across the healthcare ecosystem with flexible funding models…

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Information

Delivering market research to the Deerfield team, its portfolio companies and other partners.

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Philanthropy

A New York City-based not-for-profit devoted to advancing innovative health care initiatives.

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Research Collaborations

Deerfield partners with leading academic research centers, providing critical funding and expertise to further sustain and accelerate the commercialization of discoveries toward meaningful societal impact by advancing cures for disease.

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Strategic Partners

As a strategic partner, Deerfield offers capital, scientific expertise, business operating support, and unique access to innovation.

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Deerfield Foundation

The Deerfield Foundation is a New York City-based not-for-profit organization whose mission is to improve health, accelerate innovation and promote human equity.

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Cure Campus

Cure is a 12-story innovations campus in New York City that intends to bring together innovators from academia, government, industry, and the not-for-profit sectors to advance human health and accelerate the fight against disease.

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Cure Programming

Cure has a series of expert lectures intended to advance thought in healthcare, management, innovation, policy, and other relevant subjects. This fosters growth and education for those at Cure and its guests.

Cure Symposium Calendar

Deerfield Management Company Announces a $125 million Term Sheet with SHINE Medical Technologies, Inc.

NEW YORK, October 9, 2014 – Deerfield Management Company announced today it has entered into an agreement providing for up to $125 million of debt and equity financing for SHINE Medical Technologies, Inc.  The financing is milestone based with the first funding to occur at the completion of an on-going equity financing which is anticipated to close prior to the year-end 2014.  This initial funding will enable the Company to complete its application with the Nuclear Regulatory Commission to begin construction of its novel system to produce Molybdenum 99 (moly-99) on a subcritical basis from low enriched uranium.  The moly-99 is further processed into the most common medical isotope used in nuclear medicine.

The U.S. currently does not have domestic moly-99 production capability and must import 100 percent of its supply from foreign producers, most of which use weapons-grade uranium in their production processes.  The majority of existing foreign supply will disappear in coming years as the U.S. government ceases to supply highly enriched uranium for such purposes.  Shine’s facility will be designed to produce more than twenty-five percent of the world’s demand for moly-99.

“The momentum we’ve gained in just the past year demonstrates that SHINE is positioned to become North America’s preeminent supplier of medical isotopes,” said Greg Piefer, CEO of SHINE. “Deerfield’s reputation in the healthcare industry is unparalleled and I’m thrilled they share SHINE’s vision for a reliable, domestic supply of medical isotopes.”

 “We are pleased to help advance and catalyze a solution to the looming US moly99 supply shortage through our support of SHINE. We are encouraged with the progress that the SHINE team has made to date on its novel approach to produce moly99 from Low Enriched Uranium.” said, Steve Hochberg, Partner at Deerfield.

About SHINE Medical Technologies, Inc.

SHINE is a development-stage company working towards becoming a manufacturer of radioisotopes for nuclear medicine. The SHINE system uses a patented proprietary manufacturing process that offers major advantages over existing and proposed production technologies as it does not require a nuclear reactor, uses less electricity, generates less waste and is compatible with the nation’s existing supply chain for moly-99.  Learn more at http://shinemed.com.

About Deerfield

Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy.  For more information, please visit www.deerfield.com.

Contacts

Deerfield Management Company
Karen Heidelberger, 212-692-7140
[email protected]