- NorthStar Medical Technologies has secured a multi-year growth capital facility of up to $185 million with Hercules Capital, including $100 million upfront.
- The financing will support investment in no-carrier-added actinium-225 (n.c.a. Ac-225) isotope production and clinical and commercial radiopharmaceutical manufacturing capabilities.
NorthStar Medical Technologies, LLC (NorthStar) has entered into a multi-year growth capital facility of up to $185 million with Hercules Capital, Inc. The financing includes $100 million upfront and will support the company’s continued expansion of isotope production and clinical and commercial drug manufacturing capabilities.
NorthStar said the financing will support its commercial scale-up and investment in its vertically integrated radiopharmaceutical campus. The campus provides clinical and commercial isotope production and radiopharmaceutical manufacturing, including cGMP services through NorthStar’s CDMO.
The financing follows several recent milestones for NorthStar. In January 2026, the company announced commercial-scale production of no-carrier-added Ac-225 using electron-accelerator technology. The U.S. Food & Drug Administration has also accepted NorthStar’s Drug Master File for n.c.a. Ac-225, providing pharmaceutical and biotechnology companies with a pathway to incorporate the isotope into clinical and commercial radiopharmaceutical programs.
NorthStar plans to transition to its high-capacity production line for n.c.a. Ac-225 at its integrated campus later this year. The company also has supply and manufacturing agreements with more than 30 pharmaceutical and biotechnology customers, including several of the largest companies developing Ac-225 therapies.
“NorthStar is executing on our vision to become the radiopharmaceutical industry’s most comprehensive strategic supply-chain partner. This commitment from Hercules provides the necessary capital to expand our capacity, accelerate our growth, and support our partners as they advance innovative therapies to patients across the world.”
Dr. Frank Scholz, President & CEO of NorthStar
