Ionetix

What Ionetix does

Ionetix is a vertically integrated radiopharmaceutical company that designs, manufactures, and operates compact superconducting cyclotrons used to produce medical radioisotopes for diagnostic PET imaging and targeted alpha therapy (TAT). Founded in 2009 from technology developed at MIT's Plasma Science and Fusion Center, the company commercialized the ION-12SC, a 12 MeV patent-protected superconducting cyclotron with a significantly reduced footprint relative to traditional systems, enabling installation on or near hospital campuses. Its diagnostic portfolio centers on N-13 Ammonia for cardiac PET myocardial perfusion imaging and, as of May 2026, FDA-approved Gallium Ga-68 gozetotide (PSMA-11) for prostate cancer imaging, the latter making Ionetix the first commercial drug manufacturer to hold an ANDA approval for the product. Its therapeutic portfolio comprises cyclotron-produced Actinium-225 (Ac-225) and Astatine-211 (At-211) supplied to pharmaceutical companies for targeted alpha therapy development.

The company's commercial model is platform-based and turnkey: it sells or leases ION-12SC cyclotrons to health systems, hospitals, and cardiology/radiology groups, covers installation and operating costs, and supplies radiopharmaceuticals through a pay-by-the-dose structure that removes upfront capital requirements for providers. A second revenue layer is cGMP contract manufacturing of clinical-grade Ac-225 and At-211 for pharma partners developing TAT cancer therapeutics, supported by specialized white-glove logistics for short-half-life isotopes. Customers include academic medical centers (e.g., University of Kansas Health System for cardiac PET) and pharma counterparties such as Eli Lilly (strategic financing), AtomVie Global Radiopharma, Cellectar Biosciences, and AlfaRim Medical B.V. for therapeutic isotope supply. Manufacturing is anchored in Lansing, Michigan, with Delta Township expansion ($25.75M investment, 53 new jobs) and operational cyclotron sites in Sarasota and Pittsburgh.

In April 2026, Ionetix completed a reverse merger with JDEV Acquisition Corp., raising $30M+ in a private placement at $3.00 per share and transitioning to publicly reporting status with intended OTCQB listing. The combination of proprietary hardware, regulatory exclusivity in PSMA-PET manufacturing, a turnkey pay-by-dose commercial model, and scarce-isotope supply contracts positions the company at the intersection of two high-growth radiopharmaceutical markets: cardiac PET diagnostics and alpha-emitting therapeutic radioisotopes.

Name

Ionetix

Legal name

IONETIX Corporation

Website

https://ionetix.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Short description

Ionetix is a radiopharmaceutical company that designs and operates compact superconducting cyclotrons to produce diagnostic PET tracers (N-13 Ammonia, Ga-68 PSMA-11) and therapeutic alpha-emitting isotopes (Ac-225, At-211) for healthcare providers and pharmaceutical partners.

Ownership category

akta.pro rank

Product category

Radiopharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Irradiation Apparatus Manufacturing (334517)

SIC

Pharmaceutical Preparations (2834)

akta.pro primary industry

Medical Radioisotope Production (Reactor/Cyclotron, Mo-99/Tc-99m, I-131, Lu-177, etc.) (EUAKAIAA)

akta.pro secondary industries

Radiopharmaceutical Manufacturing & CDMO (Synthesis, GMP, Packaging, QA/QC) (EUAKAIAC), Nuclear Medicine Imaging Tracers & PET/SPECT Supply Chain (FDG, Ga-68, logistics/cold chain) (EUAKAIAE)

Keywords

• Compact cyclotron systems
• Radiopharmaceutical manufacturing
• Cardiac PET imaging
• Targeted alpha therapy
• Medical radioisotope production

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Supply Chain, Infrastructure

Revenue model

1. Cyclotron Equipment Sales and Leasing: Sale or lease of ION-12SC compact superconducting cyclotron systems to healthcare institutions. The company covers installation and ongoing operational costs.
2. Radiopharmaceuticals - Pay-by-Dose: N-13 Ammonia and other PET tracers provided through a pay-by-the-dose model, making critical diagnostic tracers accessible and affordable to providers nationwide.
3. Contract Drug Manufacturing Services: cGMP contract manufacturing of radiopharmaceuticals including Actinium-225 (Ac-225) and Astatine-211 (At-211) for pharmaceutical company customers and clinical trials.
4. Alpha Emitter Therapeutics Isotopes: Supply of clinical-grade Actinium-225 (Ac-225) and Astatine-211 for targeted alpha therapy development and commercialization.
5. Specialized Logistics: White glove logistics services ensuring global access to short-half-life radioisotopes through comprehensive distribution network.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Ionetix manufactures compact, patent-protected superconducting cyclotrons used to produce medical radioisotopes, and operates cGMP manufacturing operations that turn those isotopes into radiopharmaceutical products. The company sells radiopharmaceuticals (notably for cardiac PET imaging and targeted alpha therapy) on a pay-by-the-dose basis, supplies cyclotron equipment to institutions that want on-site production, and offers cGMP contract manufacturing and cardiac PET consulting services to healthcare and pharmaceutical customers.

Product overview

Ionetix is a cyclotron and technology company providing full-service radioisotope production and end-to-end radiopharmaceutical manufacturing solutions. The company operates a platform-based model centered on its proprietary ION-12SC superconducting cyclotron system, which serves as the foundation for both diagnostic and therapeutic product lines. The diagnostic portfolio includes N-13 Ammonia for cardiac PET imaging, Gallium Ga-68 Gozetotide (PSMA-11) for prostate cancer imaging, and supporting cardiac PET program solutions with consulting services. The therapeutic offerings are anchored by targeted alpha therapy products utilizing Actinium-225 and Astatine-211 radioisotopes for cancer treatment. Manufacturing capabilities are supported by cGMP solutions including contract drug manufacturing, distribution networks, and specialized logistics.

Differentiator

Problem solved

Functional benefit

Products and services

• Compact Cyclotron Systems Capital equipment product based on Ionetix's patent-protected compact superconducting cyclotron technology, sold to healthcare and research institutions that want to produce medical radioisotopes on-site. For institutions running cardiac PET, nuclear medicine, or radiopharmaceutical research programs.
• Radiopharmaceutical Products (Cardiac PET and Targeted Alpha Therapy) cGMP-manufactured radiopharmaceuticals derived from cyclotron-produced medical radioisotopes, supplied primarily for cardiac PET imaging and targeted alpha therapy. Sold to hospitals, imaging centers, and pharmaceutical developers on a pay-by-the-dose commercial model.
• Medical Radioisotopes Medical radioisotopes produced using Ionetix's compact cyclotrons, supplied as inputs for radiopharmaceutical manufacturing and for clinical/research use. Targeted at pharmaceutical companies and research institutions needing isotope supply.
• cGMP Contract Manufacturing Services cGMP-compliant contract manufacturing services for radiopharmaceutical production. Offered to pharmaceutical and biotech companies developing radiopharmaceutical therapies (including targeted alpha therapies) that need outsourced manufacturing capacity.
• Cardiac PET Consulting Services Consulting services that help healthcare institutions plan and operate cardiac PET imaging programs, leveraging Ionetix's cyclotron and radiopharmaceutical production expertise. Targeted at hospitals and imaging centers adopting or expanding cardiac PET.

Quantifiable outcome

• Cardiac PET projected to grow 64.9% in next 5 years (Advisory Board 2019)
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered strategic.

• AtomVie Global RadiopharmastrategicStrategic or Co-development Partner · 19 December 2025Strategic supply agreement for clinical-grade Actinium-225 (Ac-225) to support AtomVie's radiopharmaceutical development and manufacturing programs. Collaboration supports growth of alpha-based therapies and new 72,300 sq ft manufacturing facility launch in Q1 2026.
• Cellectar BiosciencesstrategicStrategic or Co-development Partner · 16 December 2025Multi-year supply agreement for Actinium-225 and Astatine-211 alpha-emitting isotopes to advance Cellectar's targeted alpha therapy cancer treatments. Supports drug development pipeline into clinical trials and potential commercial launches.
• AlfaRim Medical B.V.strategicStrategic or Co-development Partner · 20 June 2025Strategic collaboration to commercialize cyclotron-produced Actinium-225 for next-generation targeted alpha therapies. AlfaRim's industrial-scale production capabilities combined with IONETIX's cyclotron technology accelerate scale-up to establish sustainable commercial-scale Ac-225 supply.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Curium Pharma: One of the world's largest commercial manufacturers of radiopharmaceutical products including SPECT/PET tracers and therapeutic isotopes. Closely comparable as a vertically integrated radiopharma manufacturer serving similar hospital customers across diagnostics and therapeutic nuclear medicine.
• IBA (Ion Beam Applications): Belgian-listed global leader in proton therapy and radiopharmaceutical cyclotron/automation systems (Cyclone, Synthera, IntegraLab). Closest direct technology peer to Ionetix's ION-12SC, selling cyclotron-based isotope production equipment into the same hospitals and radiopharma CDMOs.
• Telix Pharmaceuticals: Commercial-stage radiopharma company with Illuccix (Ga-68 PSMA-11 kit) and a growing pipeline of diagnostic and therapeutic radiopharmaceuticals. Direct competitor in PSMA-PET imaging market where Ionetix's new Ga-68 PSMA-11 ANDA competes head-to-head.
• Lantheus Holdings: Leading US radiopharmaceuticals company with PYLARIFY (piflufolastat F-18) for PSMA-PET imaging of prostate cancer and DEFINITY ultrasound contrast. Directly comparable to Ionetix as a commercial-stage radiopharma manufacturer targeting the same hospital and cardiology/radiology customers, with overlapping diagnostic PET franchise.
• SOFIE (formerly Zevacor Molecular): PET tracer and theranostics manufacturer/distributor that previously employed Ionetix's VP of Regulatory Affairs. Directly comparable early-to-mid-stage North American radiopharma peer with similar focus on PET and therapeutic radiopharmaceuticals.

Broad incumbents

• Cardinal Health Nuclear Pharmacy Services: Largest US radiopharmacy distributor operating a national network of nuclear pharmacies delivering SPECT/PET tracers. Comparable to Ionetix in distributing short-half-life radiopharmaceuticals to hospitals, but operates at much greater scale and across broader geographies.
• Bracco Imaging: Global imaging agent company with contrast media and a growing radiopharmaceuticals portfolio. Adjacent incumbent competitor to Ionetix in hospital-administered diagnostic imaging agents, including emerging PET and therapeutic nuclear medicine products.
• PETNET Solutions (Siemens Healthineers): Siemens Healthineers' PET radiopharmacy network distributing FDG and other PET tracers across the US via hospital-near cyclotron sites. Functionally comparable to Ionetix's multi-site PET network and pay-by-dose distribution model for cardiac PET tracers like N-13 Ammonia.
• GE HealthCare: Diversified medical imaging and pharmaceutical diagnostics company with a nuclear medicine / PET radiotracer business plus cyclotron-installed services for hospitals. Broader portfolio overlaps with Ionetix's diagnostic PET imaging offering but is not specialized in compact cyclotrons or TAT isotopes.

Emerging players

• NorthStar Medical Radioisotopes: US-based medical radioisotope producer focused on Mo-99/Tc-99m supply using novel non-uranium production routes. Comparable as a US commercial-scale medical isotope manufacturer addressing chronic supply constraints similar to those Ionetix targets with Ac-225 and At-211.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ionetix-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ionetix