Isoray Medical Gets $1.4 Million Expansion Loan - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Isoray Medical Gets $1.4 Million Expansion Loan

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RICHLAND, Wash.- Isoray Medical is expanding after a loan from the Hanford Area Economic Investment Fund.

Isoray will add nearly 100 jobs with money from the loan.

They will also use the money to buy a new machines to manufacture medical isotopes.

They are working alongside Pacific Northwest National Laboratory to develop isotopes to treat cancer.

With the loan, they'll be able to expand their private work, and add jobs.

The investment fund says the $1.4 million loan should return fourfold into the local economy, but that's not all.

"It also takes new technology that has been developed at PNNL and put into the private sector that is so badly needed for the medical isotope industry, and finding a cure for cancer," said Max Benitz, Jr., Chairman of the HAEIF Commission.

One of the stipulations for the loan is that Isoray continue to produce isotopes in the Tri-Cities.

Earlier this year, Isoray and PNNL were recognized for development of the Cesium-131 seed used to treat prostate cancer.