Vancouver’s ARTMS has raised US$19 million in a Series A financing round led by New York based Deerfield Management Company with continued investment from Vancouver based seed investor Global Health Science (GHS) Fund.

ARTMS’s flagship product, the QUANTM Irradiation System® (QIS®), provides for cost-effective, decentralized, and local production of important medical isotopes, such as Gallium-68, Zirconium-89, Technetium-99m and Copper-64 using existing hospital or commercially based medical cyclotrons empowering the user to control their supply chain.

The Global Health Science Fund was jointly established by Quark Venture LP and GF Securities in late 2016.

“We are thrilled to have this significant investment with such knowledgeable, high-caliber investors. This funding gives us the financial flexibility to leverage our QUANTM Irradiation SystemTM (QISTM) technology and partner with customers to revolutionize the nuclear medicine industry by enabling global access to cyclotron-produced medical isotopes,” says Charles S. Conroy, Chief Executive Officer of ARTMS.

ARTMS’s initial founding technology stems from leading Canadian founding institutions, TRIUMF, BC Cancer, the Centre for Probe Development and Commercialization, and Lawson Health Research Institute, and has had continued support from partners at Alliance Medical, Western Economic Diversification Canada and National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP).