Janesville, WI – SHINE Medical Technologies, Inc. (SHINE), a Wisconsin-based company dedicated to being the world leader in the safe, clean, affordable production of medical isotopes, announced today that Gordon (Gordy) Gunnlaugsson has been appointed to its Board of Directors. Richard (Dick) Leazer, one of the board’s longest-serving members, is retiring after 8 years of service.
“Gordy is an accomplished business leader and an experienced board member,” said Gregory Piefer, founder and CEO of SHINE. “I am
confident that he will add great value to our Board of Directors and that SHINE will benefit from his insights, judgment and counsel. It is with great enthusiasm that I welcome him to the board.”
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Mr. Gunnlaugsson has been a Principal at Lakeview Equity Partners, LLC, a private equity firm in Milwaukee, WI since 2005. Prior to his role at Lakeview, he served as Executive Vice President and Chief Financial Officer from 1976 to 2000 at Marshall & Ilsley Corporation (M&I), a diversified financial services corporation that combined with Harris Bank in 2010 to create BMO Harris Bank. A Certified Public Accountant, he also holds a bachelor’s degree in business and an MBA from the University of Wisconsin.
Mr. Gunnlaugsson has previously served on the boards of Fiduciary Management, Inc., Thrivent Trust Company, West Bend Insurance Company and many others throughout his career. He has also served as a member of Wisconsin Investment Partners (a Madison-based angel group), Chairman of the Milwaukee Economic Development Corporation, Chairman of the UW School of Business Dean’s Advisory Board, and Chairman of the Advisory Board at the Cardiovascular Research Center of the Medical College of Wisconsin.
“Dick Leazer has been a leader, a mentor and a friend. We owe him a huge debt of gratitude for his service. He has been with SHINE from its inception and has helped SHINE grow from an upstart technology company to the leader in the effort to create an affordable, domestic supply of medical isotopes,” said Piefer.
Mr. Gunnlaugsson’s appointment comes as SHINE prepares for construction of its medical isotope production facility in Janesville, Wisconsin. Once operational, the SHINE facility will produce molybdenum-99 (moly-99) and other medical isotopes.
About Moly-99
Molybdenum-99 (moly-99) is a radioisotope that decays into the diagnostic imaging agent technetium‑99m (Tc-99m). Tc-99m is used in more than 40 million medical imaging procedures each year, primarily in stress tests to diagnose heart disease and bone scans to stage cancer. SHINE was founded to deploy a safe, cost-effective and environmentally friendly technology to produce medical isotopes, including moly‑99.
About SHINE Medical Technologies, Inc.
Founded in 2010, SHINE is a development-stage company working toward 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. In 2014, SHINE announced the execution of moly-99 supply agreements with GE Healthcare and Lantheus Medical Imaging. In 2015, with the help of Argonne National Laboratory, GE Healthcare demonstrated SHINE moly-99 can act as a drop-in replacement for reactor-based moly-99. In 2016, SHINE received regulatory approval to construct its facility from the Nuclear Regulatory Commission and signed a moly-99 supply agreement with HTA Co., Ltd., the largest Chinese distributor of radiopharmaceuticals.
