ARTMS Products Inc. Wins ‘Most Promising Pre-Commercial Technology’ at BC Tech Association Technology Impact Awards
TRIUMF Innovations spin off wins for development of innovative production solution for diagnostic imaging isotope
Newswise — ARTMSTM Products, Inc. (ARTMS), a Vancouver-based medical technology company, today announced they received “Most Promising pre-Commercial Technology” award at the 2017 BC Tech Association Technology Impact Awards (TIAs) on June 22, 2017. The award is given to a company in any stage of growth for a pre-commercial technology in development that has the potential to commercialize within five years.
ARTMS is one of five spin off companies founded by TRIUMF Innovations, the commercialization arm of TRIUMF, Canada’s particle accelerator centre located in Vancouver, BC.
ARTMS was recognized at the 2017 TIAs for its innovative production solution for technetium-99m (Tc-99m), the world’s most-used diagnostic imaging isotope. It is used in more than 80% of all nuclear medicine imaging procedures and is vital to patient care in areas such as cardiology, oncology, and neurology. ARTMS’ breakthrough technology enables a reliable, cost-effective, and safe supply of this critical medical isotope using common hospital-based and commercial cyclotrons, a type of particle accelerator. ARTMS’ decentralized solution offers the potential to revolutionize medical isotope production by providing a means to produce Tc-99m locally and on-demand at hospitals, clinics, and radiopharmacies that already have medical imaging infrastructure in place. This cyclotron-based production approach provides an alternative to sourcing Tc-99m from nuclear reactors, many of which are ageing and increasingly unreliable, resulting in significant Tc-99m supply disruptions in recent years.
“The development and rollout of the core technology behind ARTMS represents a huge success for British Columbia’s technology sector, especially in the area of particle accelerators applied to medicine," said Dr. Paul Schaffer, CEO, ARTMS. “TRIUMF and TRIUMF Innovations have been instrumental in helping us get to this stage of commercialization of the Tc-99m production solution, and winning the TIA is further reinforcement that we are moving in the right direction.”
“We are delighted that the BC Tech Association has recognized the ground breaking, important work that Paul and his team do at ARTMS and congratulate them on this well-deserved award,” said Kathryn Hayashi, CEO, TRIUMF Innovations. “TRIUMF continues to produce world leading, innovative technologies in the field of accelerator-based science, and ARTMS is at the forefront of our efforts to take these technologies to market.”
The TIAs were founded in 1994 by the by the BC Tech Association, to recognize successes of the technology industry in British Columbia and its companies, people and products. The TIAs are the longest-running and largest technology award program in BC, presented in June in front of an audience of more than 1,000 technology leaders and industry supporters.
ABOUT ARTMS Products, Inc. ARTMS™ Products Inc. is a leader in the development of novel technologies and products which enable the production of the world’s most-used diagnostic imaging isotope, technetium‐99m (Tc‐99m), using local, hospital-based medical cyclotrons. ARTMS holds the exclusive global commercialization rights to award-winning and proprietary Canadian inventions which address these challenges and which offer the prospect of revolutionizing the nuclear medicine industry.
About TRIUMF Innovations Inc. TRIUMF Innovations Inc. is the commercialization arm of TRIUMF – Canada’s particle accelerator centre – focused on linking cutting-edge science and technology to tangible business opportunities. TRIUMF Innovations interfaces with the business world by providing market opportunities for applied physics-based technologies that emerge from the TRIUMF network; by streamlining access to TRIUMF’s world-class expertise and infrastructure; and by connecting TRIUMF researchers and technologies to the world via industry partnerships, licensing, and business development.
Dr. Paul Schaffer accepts the BC Tech Association TIA on behalf of ARTMS.