Jeremy L. Dillon
RW Monitor
4/10/2015
Coquí RadioPharmaceuticals Corp. announced this week that it has completed the schematic design of its $330 million molybdenum-99 production facility. The design finalization paves the way for the company to submit its construction license application to the Nuclear Regulatory Commission by the end of 2015, the company said in a release. With Canada set to stop government spending in 2016 on the National Research Universal (NRU) reactor, one of the world’s largest suppliers of molybdenum-99 and technetium-99m, the medical isotope industry is expecting a shortage in the market in the coming years, opening a potentially lucrative opportunity to satisfy the market for the medical isotope used in millions of procedures annually. “We have taken great care and the architects have created the design with the utmost precision to ensure Coquí Pharma leaves a minimal environmental footprint as we produce lifesaving medical isotopes,” Coquí Pharma President and CEO Carmen Bigles said in a statement.
Coquí plans to build the $330 million facility in Alachua, Fla. The facility, designed in part by Gresham, Smith and Partners, covers 250,000 square feet. “Our goal was to incorporate the most innovative design while sustaining the environment, and Gresham, Smith and Partners have created a remarkable vision for Coquí Pharma," Bigles said. Coquí wanted a design that supports the global movement for environmentally sustainable design, construction and operational practice, the company said. Coquí Pharma will soon enter the detailed design phase as it readies to submit its construction license application to the NRC by the end of 2015, the company said.
NRU’s anticipated shutdown has led to a slew of startups looking to fill the lucrative medical isotope void—eight-to-nine companies have already sent the Nuclear Regulatory Commission letters of intent to submit construction authorization licenses for a potential Mo-99 production facility. Most of the companies have a timeline to reach production capabilities between late 2016 and early 2017, and with many saying they could produce up to 50 percent of the industry demand, it appears there will not be room for all these companies. Most, if not all, of these companies have a timeline for the end of 2016 or beginning of 2017 for reaching production capabilities, but regulatory hurdles lie ahead.
