Northwest Medical Isotopes

Executive Summary

Northwest Medical Isotopes (NWMI) is positioned to address the critical U.S. shortage of Molybdenum-99 (Mo-99), the parent isotope for Technetium-99m (Tc-99m), which is used in over 40,000 medical procedures daily. Currently, the U.S. relies on aged foreign reactors for nearly all of its Mo-99 supply, creating vulnerability to disruptions. NWMI is developing a Radioisotope Production Facility (RPF) in Corvallis, Oregon, using low-enriched uranium (LEU) targets to produce Mo-99 via neutron capture or accelerator-based methods. The company aims to restore domestic production capacity, enhance supply chain security, and support the growing demand for nuclear medicine diagnostics. With a focus on reliable, scalable production, NWMI is targeting completion of its facility and initial production within the next few years, pending regulatory approvals and funding. The U.S. Department of Energy’s National Nuclear Security Administration (DOE/NNSA) has actively supported domestic Mo-99 projects, and NWMI is well-positioned to benefit from this initiative. The company’s success would reduce reliance on foreign sources, improve patient access to critical diagnostics, and bolster national healthcare infrastructure. However, as a private startup, NWMI faces significant execution risk, including technological validation, regulatory hurdles, and capital requirements.

Upcoming Catalysts (preview)

• Q4 2026DOE/NNSA Grant or Funding Award for Mo-99 Production75% success
• Q2 2027Breakthrough in LEU Target Processing or Radioisotope Production Milestone60% success
• Q1 2027Strategic Partnership with Radiopharmaceutical or Nuclear Medicine Company50% success