Nusano
Nusano is a privately held physics company that uses a patented ion source and 70-foot linear accelerator to produce 40+ medical and industrial radioisotopes, supplying pharmaceutical companies developing cancer radiopharmaceuticals, advanced nuclear reactor operators, and critical minerals processors.
- Company typePrivate
- Founded2013
- HeadquartersValencia, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Nusano does
Nusano is a privately held physics company commercializing a patented ion source and linear accelerator platform for the production of medical and industrial radioisotopes. Its flagship 190,000-square-foot facility in West Valley City, Utah — ribbon-cut in August 2025 — uses custom-built klystrons and fast-pulse modulators to direct a 36 mA alpha/deuteron beam into up to 12 simultaneous target stations, enabling production of 40+ different radioisotopes (including actinium-225, lutetium-177, copper-67, copper-64, astatine-211, iodine-125) at volumes reported as 288-720x greater than existing alpha ion beams and 15-30x the production power of legacy cyclotrons. The company serves pharmaceutical companies developing radiopharmaceutical cancer therapies, hospitals and clinics, advanced nuclear reactor operators (HALEU fuel), aerospace/defense (nuclear batteries), and critical minerals processors, with multi-year supply agreements signed with Clarity Pharmaceuticals, Ariceum Therapeutics, Ratio Therapeutics, Cellectar Biosciences, and dGenThera.
Nusano generates revenue primarily through quote-based B2B supply agreements with drug developers for CGMP-grade radioisotopes, with additional revenue streams planned from HALEU fuel (commercial deliveries beginning Q1 2027), nuclear battery isotopes, and proprietary critical minerals separation services. Distribution is direct enterprise sales, anchored by the Wasatch Group's Lake Park Medical Innovation Campus where Ratio Therapeutics and other partners are co-locating manufacturing to streamline logistics. Co-founders Howard Lewin (Chief Product Development Officer) and Glenn Rosenthal (Chief Technology Officer) lead engineering, while CEO Chris Lowe — a former CFO/COO of Cortexyme with 30 years of healthcare and finance experience — sets commercial direction. The company raised a $115 million Series C in October 2024 led by Wasatch Group with participation from S32 to fund facility ramp.
The company's expansion extends beyond radiopharmaceuticals into adjacent verticals where the same ion source and separation technology applies: HALEU nuclear fuel production (up to 350 metric tons annual capacity targeted), nuclear battery isotopes for space and defense, and critical minerals processing (antimony, cesium, gallium, germanium, rubidium, rare earths) via a Quantum Critical Metals collaboration. A Strategic Advisory Board including former VA Secretary Dr. David J. Shulkin was formed in 2025 to support federal procurement and policy engagement, and CEO Chris Lowe joined the BioUtah Board in November 2025. The company has received the 2025 BioUtah Innovation Impact Award and Utah Business "Best Companies to Work For" recognition.
Nusano firmographics
Firmographics- Name
- Nusano
- Legal name
- Nusano, Inc.
- Website
- https://nusano.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Nusano is a privately held physics company that uses a patented ion source and 70-foot linear accelerator to produce 40+ medical and industrial radioisotopes, supplying pharmaceutical companies developing cancer radiopharmaceuticals, advanced nuclear reactor operators, and critical minerals processors.
- Ownership category
- akta.pro rank
Nusano industry classification
Industry- Product category
- Medical Radioisotope Production
- NAICS
- Irradiation Apparatus Manufacturing (334517), Chemical Manufacturing (325)
- SIC
- Chemicals & Allied Products (2800), X-Ray Apparatus & Tubes & Related Irradiation Apparatus (3844), Miscellaneous Chemical Products (2890)
- akta.pro primary industry
- Radioisotope Production (Reactor/Cyclotron/Gamma) (HLAIAGAD)
- akta.pro secondary industries
- Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.) (EUAKAIAA), HALEU Production & Supply Chain (Feedstock, Enrichment, Downblending) (EUAKACAH), Industrial Isotope Production & Supply (Co-60, Ir-192, Cs-137, Am-241, etc.) (EUAKAIAB), Radionuclide Supply Chain & Logistics (Shielding/Transport/Distribution) (HLAIAGAH)
Keywords
Where Nusano is headquartered
LocationHeadquarters
- HQ city
- Valencia
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Nusano business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Infrastructure, Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales
Revenue model
- Medical Radioisotope Sales: Nusano supplies medical radioisotopes to pharmaceutical companies, hospitals, and clinics for use in cancer diagnostics and therapeutics. Revenue generated through supply agreements with drug developers for isotopes including copper-67, actinium-225, lutetium-177, iodine-125, and astatine-211.
- HALEU Nuclear Fuel: Production and sale of High-Assay Low-Enriched Uranium (HALEU) for advanced and small modular nuclear reactors. Commercial production deliveries begin Q1 2027, with reservations being accepted.
- Nuclear Battery Isotopes: Supply of radioisotopes for nuclear batteries used in aerospace, defense, and industrial applications including space satellites and remote sensors
- Critical Minerals Processing: Proprietary mass separation processes for refining critical minerals including antimony, cesium, gallium, germanium, rubidium, tin, zinc, and rare earth elements
Go-to-market motion1 record
Distribution channels1 record
Marketing channels8 records
Nusano product offering
Product offeringCore offering
Nusano operates a patented linear accelerator-based production platform that manufactures 40+ medical, industrial, and energy radioisotopes — including actinium-225, lutetium-177, copper-67, copper-64, astatine-211, and iodine-125 — for sale to pharmaceutical companies, hospitals, and clinics developing cancer diagnostics and radiotherapeutics. The company also produces HALEU nuclear fuel for advanced/small modular reactors and provides critical minerals separation services, with all production centralized at its 190,000-square-foot Utah facility capable of up to 12 simultaneous isotope production.
Product overview
Nusano operates as a physics company commercializing multiple platform technologies: a radioisotope production platform (ion source + linear accelerator) as the core offering, complemented by stable isotope enrichment and advanced separation techniques. The company's main product lines span life sciences (medical radioisotopes for cancer diagnostics/therapeutics), clean energy (HALEU nuclear fuel, nuclear fuel cycle solutions, nuclear batteries), and critical minerals processing. The 190,000-square-foot Utah facility houses production capabilities for 40+ radioisotopes with simultaneous manufacturing of up to 12 different isotopes. Nusano's proprietary ion source generates heavy ions at 288-720x greater volumes than existing commercial systems, enabling unprecedented production scale.
Differentiator
Problem solved
Functional benefit
Products and services
- Medical Radioisotopes CGMP-grade medical radioisotopes for healthcare applications including cancer diagnostics and therapeutics. Includes Actinium-225, Lutetium-177, Copper-67, Copper-64, Astatine-211, Iodine-125, Iodine-131, and Fluorine-18 for radiopharmaceutical development. Sold to pharmaceutical companies, hospitals, and clinics.
- HALEU (High-Assay Low-Enriched Uranium) Nuclear fuel for advanced and small modular reactors (SMRs). Nusano's enrichment platform is 200x more efficient than traditional methods, producing 50+ metric tons annually per system with total planned capacity of 350 metric tons through U.S.-based supply chain. Reservations now being accepted with commercial deliveries beginning Q1 2027.
- Nuclear Batteries Long-lasting atomic batteries that generate electricity using energy from radioactive decay. Nusano's production platform produces radioisotopes suitable for nuclear batteries, including alpha-emitters with multi-year battery lifespans and low-penetration radiation for compact, durable designs for aerospace, defense, and industrial applications.
- Nuclear Fuel Cycle Solutions Proprietary ion source technology applied to nuclear waste that dramatically shortens the radioactive half-life of spent nuclear fuel while generating clean energy for operation and the electrical grid. Generates neutrons at scale far greater than current particle accelerator technologies.
- Critical Minerals Solutions Proprietary mass separation processes for refining critical minerals including antimony, cesium, gallium, germanium, rubidium, tin, zinc, and rare earth elements. Modular, scalable, and environmentally responsible system that eliminates multiple slow, hazardous, and inefficient steps from conventional ore processing. Offered to mining and processing companies requiring advanced separation technologies.
- Stable Isotope Program Supply of stable (non-radioactive) isotopes as critical starting materials for radioisotope production. Provides domestic supply security and independence, shortens development time, and expands product lines available for commercialization. Includes enrichment of Gadolinium-160 to 99.2% purity.
Quantifiable outcome
- 15-30x production power vs existing cyclotron technology
- +3 more outcomes
Companies that use Nusano
Customer profileNamed customers5 records
Segments6 records
Ideal customer profiles5 records
Nusano technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Nusano partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core.
- Wasatch GroupcoreWasatch Group is developing Lake Park Medical Innovation Campus in West Valley City, Utah, with Nusano as anchor tenant. Nusano collaborating with companies throughout the park to advance radiopharmaceutical development and patient care. Joint presence at SNMMI 2026 Annual Meeting.
- Anson ResourcescoreNon-binding MoU for long-term supply of high-purity lithium chloride from Anson's Green River Lithium Project in Utah. Target of 300 tonnes per annum LCE-equivalent with potential 5-year extension. Nusano will use lithium chloride to produce lithium-6 and lithium-7 isotopes for nuclear sector applications. Sample testing to validate processing capabilities underway.
- Quantum Critical MetalscoreMOU for collaboration on critical minerals refining in North America. Quantum to supply material from Canadian projects for refining at Nusano's Utah facility. Target elements include antimony, cesium, gallium, germanium, rubidium, tin, zinc, and rare earth elements. Evaluating joint development of dedicated refining hub in Utah.
- Clarity PharmaceuticalscoreThree-year copper-67 supply agreement with automatic renewal. Secures U.S.-based source for copper-67 therapeutic isotope for Clarity's Phase III clinical trial of 67Cu-SAR-bisPSMA for prostate cancer. Supply expected to commence mid-2026. Expands Clarity's network of U.S.-based suppliers.
- Ariceum TherapeuticscoreMulti-isotope supply agreement providing actinium-225 (Ac-225) and lutetium-177 (Lu-177) to support Ariceum's radiotherapeutic pipeline. Supports Phase 1/2 SANTANA-225 trial for extensive-stage small cell lung cancer and Merkel cell carcinoma.
- Cellectar BiosciencescoreMulti-year supply agreement for iodine-125 (I-125) and actinium-225 (Ac-225) supporting clinical studies. Includes CLR 125 for triple-negative breast cancer and CLR 225 for pancreatic cancer. Nusano to produce isotopes at next-generation radioisotope production facility in Utah.
- dGenTheracoreLetter of intent for astatine-211 (At-211) supply for preclinical studies, first-in-human trials, and clinical development of targeted alpha therapies. Quantities sufficient to support dGenThera's proprietary pipeline of theranostic molecular pairs.
- Ratio TherapeuticscoreLong-term multi-isotope supply agreement providing copper-64 for PET imaging diagnostics, lutetium-177 and actinium-225 for therapeutic applications. Supports Ratio's radiopharmaceutical clinical programs including FAP-targeted radiotherapy for soft tissue sarcoma. Ratio's manufacturing facility in Utah will be located near Nusano's operations.
Scale indicators13 records
Recent moves7 records
Expansion highlights7 records
Nusano competitors and assessment
Company assessmentDirect peers
- NorthStar Medical Radioisotopes: NorthStar produces non-uranium based Mo-99 and is expanding into Cu-67, Cu-64, and other therapeutic isotopes. It competes head-to-head with Nusano for U.S. domestic radiopharma supply agreements.
- SHINE Medical Technologies: SHINE operates a commercial-scale medical isotope production platform (fusion-based) supplying Mo-99, I-131, and Lu-177 to radiopharmaceutical developers. It is the most direct technology-and-business-model analog to Nusano's medical isotope supply strategy.
- ITM Isotope Technologies Munich: ITM produces high-purity Lu-177 and other therapeutic radioisotopes and supplies pharma developers globally. It competes with Nusano on Lu-177 specifically and offers an integrated CDMO-plus-isotope model.
- Centrus Energy: Centrus is the leading U.S. HALEU producer for advanced reactors and is a direct competitor to Nusano's HALEU program, with established DOE relationships and existing commercial cascade operations.
Broad incumbents
- Curium Pharma: Curium is one of the largest global nuclear medicine manufacturers, producing Mo-99, I-131, Lu-177, and other isotopes at multiple facilities. It is an established incumbent Nusano must displace in pharma supply contracts.
- Lantheus Holdings: Lantheus is a vertically integrated radiopharmaceutical company that both develops and manufactures drugs and procures isotopes. Its supplier relationships and internal manufacturing roadmap make it both a potential customer and competitor to Nusano.
- Telix Pharmaceuticals: Telix develops and commercializes radiopharmaceuticals (e.g., Illuccix for prostate imaging) and procures isotopes including Lu-177. It represents the kind of large radiopharma end-market Nusano supplies and may vertically integrate against.
- BWX Technologies: BWXT manufactures nuclear components and produces medical isotopes (Mo-99) for the U.S. market. Its established NRC-licensed operations make it a relevant incumbent peer across both medical isotope and adjacent nuclear businesses.
- Westinghouse Electric Company: Westinghouse is a major nuclear fuel and reactor vendor expanding into SMR (eVinci) and HALEU-adjacent offerings. It is a broader incumbent competing for the same advanced-reactor fuel supply chain.
Emerging players
- TerraPower: TerraPower is developing advanced reactors (Natrium) that require HALEU fuel, making it a logical downstream customer for Nusano's HALEU output. Comparable as a next-gen nuclear platform beneficiary.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Nusano social profiles
Digital presenceNusano financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nusano leadership team
Management profileNumber of profiles
Profiles7 records
Nusano funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nusano M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nusano
What does Nusano do?
Nusano operates a patented linear accelerator-based production platform that manufactures 40+ medical, industrial, and energy radioisotopes — including actinium-225, lutetium-177, copper-67, copper-64, astatine-211, and iodine-125 — for sale to pharmaceutical companies, hospitals, and clinics developing cancer diagnostics and radiotherapeutics. The company also produces HALEU nuclear fuel for advanced/small modular reactors and provides critical minerals separation services, with all production centralized at its 190,000-square-foot Utah facility capable of up to 12 simultaneous isotope production.
Is Nusano a public or private company?
Nusano is a private company. It is classified as venture growth investor backed and is currently operating.
When was Nusano founded?
Nusano was founded in 2013. It employs 101 to 250 people.
Where is Nusano based?
Nusano is headquartered in Valencia, United States, in the North America region.
How does Nusano make money?
Four revenue lines are on record. Medical Radioisotope Sales are the primary driver. The others are HALEU Nuclear Fuel, nuclear Battery Isotopes and critical Minerals Processing.
Who are Nusano's main competitors?
Direct peers on record are NorthStar Medical Radioisotopes, SHINE Medical Technologies, ITM Isotope Technologies Munich and Centrus Energy. Broad incumbents are Curium Pharma, Lantheus Holdings, Telix Pharmaceuticals, BWX Technologies and Westinghouse Electric Company. TerraPower is listed as an emerging player.
Does Nusano have an API?
No public API is recorded for Nusano.
What industry is Nusano in?
Nusano's product category is Medical Radioisotope Production. Its primary akta.pro industry code is HLAIAGAD, Radioisotope Production (Reactor/Cyclotron/Gamma), with a secondary code of EUAKAIAA, Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.). Its NAICS code is 334517 and its SIC code is 2800.