Note: This story was last updated at 12:45 p.m.
Coquí Radio Pharmaceuticals Corporation announced Wednesday that it could invest $500 million at a new medical isotope production facility at the Heritage Center in west Oak Ridge.
The facility could start production in late 2025, said Carmen Bigles, founder and chief executive officer of Coquí Radio Pharmaceuticals.
The U.S. Department of Energy has transferred land for the facility and provided research support through the national laboratories, the company said in a press release Wednesday morning.
Coquí’s facility will produce medical isotopes that diagnose and treat diseases, primarily molybdenum-99 (Mo-99), which is used in 18 million medical procedures a year in the U.S., the press release said.
The facility will provide more than 200 high-paying, permanent jobs, Coquí said. [Read more…]