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Nusano Joins the Utah Biohive

$46.5 million CAPEX

92 jobs

80,000 square feet

Project Hippocrates

July 8, 2021

Team Utah* is pleased to announce that health-tech firm Nusano, Inc. will open an office in Utah, adding up to 92 new high-paying Utah jobs in the next 15 years. The expansion includes capital expenditures of $46.5 million.

“Nusano will be an awesome addition to Utah’s growing life science industry,” said Dan Hemmert, executive director of the Governor’s Office of Economic Opportunity (Go Utah). “This growth will support almost 100 high-paying jobs, and we look forward to all that Nusano will bring to the state.”

Nusano is a health-tech company aiming to revolutionize uranium-free radioisotope development and production in a broad range of diagnostic and therapeutic medical applications. The technology has been developed by the world’s leading experts in nuclear medicine, physics, radioisotope production, and radiation management. It represents a disruptive, patented technology that solves significant industry supply issues.

“Nusano has developed a patented technology to manufacture radioisotopes for diagnostic and therapeutic medical and industrial applications,” said Howard Lewin, MD, co-founder and chief operating officer of Nusano. “The company’s technology, which reinvents the way radioisotopes are produced, will yield a dramatic increase in production efficiency, thus solving the industry’s current supply constraints and enabling innovation by therapeutic and diagnostic developers. We’re grateful for the support Utah has provided, and we are excited to embark on our project in the state."

The Go Utah Board has approved a post-performance tax credit not to exceed $2,063,071. Each year that Nusano meets the criteria in its contract with the state, it will earn a portion of the total tax credit.

Nusano will find a good fit in Utah, given our universities’ research capabilities, support for entrepreneurial companies by our state and local governments, and our life science industry talent base,” said Theresa A. Foxley, president and CEO of the Economic Development Corporation of Utah. “We look forward to furthering their growth.”

Real estate square footage associated with the project is estimated at 80,000.

Colby Cooley, vice president of business development, led this project for EDCUtah. For more information on this or other projects, contact him at 801-323-4250, ccooley@edcutah.org.

Mike Butler of ADP Tax & Financial Services provided site selection services to the company.

*Team Utah is a public-private partnership including the Utah Governor’s Office of Economic Opportunity (Go Utah), the Economic Development Corporation of Utah, and – in the case of this project – Salt Lake County.

Investors: If you were involved in this project and would like to add your organization to this announcement, please emai connect@edcutah.org

Colby Cooley

Vice President of Business Development

ccooley​@edcutah.org
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