ARTMS is a technology company.
ARTMS enhances human health through innovation in medical isotope production, empowering local cyclotrons to produce critical isotopes for patient care.
ARTMS has raised $19.0M across 1 funding round.
ARTMS has raised $19.0M in total across 1 funding round.
ARTMS is a medical technology company specializing in cyclotron-based production systems for diagnostic imaging isotopes used in nuclear medicine. It develops the QUANTM Irradiation System™ (QIS™), a complete platform that enables high-efficiency, cost-effective, decentralized production of critical isotopes like Technetium-99m (Tc-99m), Gallium-68 (Ga-68), Zirconium-89 (Zr-89), Actinium-225 (Ac-225), and Astatine-211 (At-211), serving radiopharmaceutical manufacturers and nuclear medicine providers to address supply shortages and support molecular imaging studies.[1][2][3] The company solves the problem of unreliable isotope supply chains, historically dependent on aging reactors, by providing solid targets, streamlined processes, and purification protocols that empower on-site production at hospitals and networks, enhancing sustainability and accessibility in healthcare.[1][2]
Founded as a TRIUMF spin-out, ARTMS operated independently from 2016 until its acquisition by Telix Pharmaceuticals in 2024, marking strong growth through funding rounds (2016-2020) and regulatory approvals for PET isotopes, positioning it as a leader in securing global medical isotope supplies.[1][2]
ARTMS originated in 2013 when a group of scientists from TRIUMF—Canada's national particle accelerator centre in Burnaby, British Columbia—identified impending shortages of Technetium-99m following the Chalk River reactor's decommissioning.[1][2] Key founders include Dr. Paul Schaffer, now Chief Technology Officer, and Joel Kumlin, Vice President of Product Development & Field Service, a chemical engineer with experience at TRIUMF, UBC, and automotive fuel cells who translated lab innovations into commercial products.[1]
The idea emerged from achieving cyclotron-produced Tc-99m, leading to expanded innovations in solid targets and PET isotopes like Ga-68 and Zr-89. ARTMS spun out as a standalone venture-backed entity in 2016, securing funding up to 2020 for partnerships, regulatory approvals, and scaling, culminating in Telix's acquisition to integrate its supply chain.[1][2]
ARTMS stands out in nuclear medicine through its physics, chemistry, and materials science expertise for cyclotron radionuclides. Key strengths include:
These features deliver superior efficiency, reliability, and developer-like ease for isotope producers compared to traditional methods.[2][3]
ARTMS rides the wave of nuclear medicine expansion, driven by rising demand for precision diagnostics in oncology, cardiology, and theranostics amid an aging global population and reactor decommissioning risks.[1][2] Its timing aligns with the shift to cyclotron production, mitigating supply disruptions like Tc-99m shortages, while enabling alpha-emitters (Ac-225, At-211) for targeted radiotherapies—a market projected to grow rapidly.[2][6]
Market forces favoring ARTMS include regulatory pushes for supply security, venture funding for medtech, and Telix's acquisition enhancing vertical integration in radiopharmaceuticals. It influences the ecosystem by empowering decentralized production at scale, fostering innovation in molecular imaging and reducing geopolitical supply vulnerabilities, as seen in partnerships like PacifiCan.[2][4]
Post-acquisition, ARTMS will likely scale QIS™ globally within Telix's network, prioritizing Ac-225 and At-211 for cancer therapies amid theranostics booms. Trends like AI-optimized imaging and personalized medicine will amplify its role, potentially evolving influence through expanded isotope pipelines and new cyclotron integrations.[2][6] As nuclear medicine decentralizes, ARTMS solidifies reliable supply—transforming a TRIUMF lab breakthrough into healthcare's isotope backbone.[1]
ARTMS has raised $19.0M in total across 1 funding round.
ARTMS's investors include Deerfield Management.
ARTMS has raised $19.0M across 1 funding round. Most recently, it raised $19.0M Series A in May 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2020 | $19.0M Series A | Deerfield Management |