SHINE Completes $240 Million in Recent Funding Led by Dr. Patrick Soon-Shiong, Founder of NantWorks, Who Joins Board of Directors

Fidelity Management & Research Company, Sumitomo Corporation of Americas, Pelican Energy Partners, Deerfield Management and Oaktree Capital Management participated in the Financing Round

JANESVILLE, Wis., Feb. 26, 2026 /PRNewswire/ -- SHINE Technologies, a nuclear fusion company, today announced it has raised $240 million in equity funding, and appointed Dr. Patrick Soon-Shiong, M.D., Executive Chairman of ImmunityBio and founder of NantWorks, to its Board of Directors. The round was led by NantWorks with additional participation from Fidelity Management & Research Company, Sumitomo Corporation of Americas, Pelican Energy Partners, Deerfield Management, Oaktree Capital Management, and other existing investors.

The investment advances SHINE's commercial fusion technology across its current portfolio of products and services – providing neutron testing that qualifies mission-critical components for defense and aerospace and supplying radioisotopes that power targeted cancer therapies and diagnostic imaging. The funding also marks the beginning of the company's next stage of growth – developing technology to recycle used nuclear fuel and building toward commercial fusion energy production.

"Fusion energy is one of the most important technologies humanity will ever develop — it will forever change how we power our species, and is already having major impact across advanced manufacturing, healthcare and recycling," said Greg Piefer, founder and CEO of SHINE. "Dr. Soon-Shiong is a visionary who has spent his career turning breakthrough science into products that have made the world better. We are honored to have him as a partner."

Dr. Soon-Shiong is a physician scientist, serial entrepreneur, and multi-sector investor who has built and sold two major pharmaceutical companies, founded the NantWorks ecosystem spanning healthcare, technology, and media. He has developed a multitude of FDA-approved therapies that have reached patients globally. Across all of it, his research has returned to the same challenge: how to transform cancer care and harness the immune system, and reduce the toxicities of standard high dose chemo-radiation therapy. That conviction aligns directly with where oncology is heading. Lu-177-based therapies deliver targeted radiation precisely to cancer cells, and researchers are actively studying how combining that approach with immune activation could produce more durable patient outcomes.

"This partnership is about harnessing powerful science to serve humanity. SHINE's leadership in fusion technology and Lu-177 production aligns with my lifelong mission to make cancer treatment more precise, targeted, and ultimately curative by activating the patient's immune system. Lu-177 is currently approved as a radio ligand targeting prostate cancer cells and the opportunity to further expand this difficult to manufacture technology is exciting. I'm honored to join SHINE's Board as we translate breakthrough science into real-world impact for patients and society," said Dr. Patrick Soon-Shiong, Founder and Executive Chairman of NantWorks and ImmunityBio.

In connection with Soon-Shiong's $150 million investment, NantWorks and SHINE have entered a strategic partnership that includes priority access arrangements for Lu-177 supply from SHINE, positioning both organizations to advance the next generation of targeted cancer treatment.

SHINE has now raised more than $1 billion in total funding, reflecting sustained investor confidence in its commercially-driven path to fusion energy.

About SHINE
Headquartered in Janesville, Wisconsin, SHINE is an industry leader in next-generation fusion, developing innovative fusion-based technology that combines safety, cost-efficiency and environmental responsibility.

SHINE has successfully commercialized fusion across multiple applications, including neutron testing markets such as neutron radiography, radiation-effects testing and fusion material research. It has commercialized and is scaling its proprietary medical isotope production and processes, supplying high-quality radioisotopes essential for procedures including diagnosing heart disease and cancer as well as cancer therapy.

SHINE currently operates one of the largest Lu-177 production facilities in North America, with capacity for up to 100,000 doses annually with the ability to scale to 200,000 doses per year. Ilumira has shipped to customers in 19 countries across four continents, achieving greater than 95% on-time, in-full delivery since its commercial launch in 2024.

Beyond these applications, SHINE is pioneering nuclear waste recycling to make nuclear energy more sustainable. Its long-term purpose is to change the way humans make energy by commercializing fusion energy. Unlike other fusion companies, SHINE takes a commercially driven path mirroring successful deep-tech industries. Through this visionary approach, SHINE is advancing technology, healthcare, and sustainable energy, making a lasting impact across multiple sectors.

SOURCE SHINE Technologies, LLC