IBA and Shreeji sign multi-site agreement for four cyclotrons to expand PET radiopharmaceutical manufacturing across India
Louvain-la-Neuve, Belgium - 19 February 2026 - IBA (Ion Beam Applications S.A., EURONEXT), the world leader in particle accelerator technology with a preeminent position in nuclear medicine, and Shreeji (Shreeji Imaging and Diagnostic Centre Pvt. Ltd.), a leading Indian manufacturer and distributor of fluorodeoxyglucose (FDG) and positron emission tomography (PET) radiopharmaceuticals, have signed a multi-site agreement for the delivery and installation of four mid-energy Cyclone® KIUBE 300 cyclotrons. The systems will be deployed in Ahmedabad, Nagpur, Kochi and Bhubaneswar to support the industrial-scale production of fluorine-18 (F-18) labelled compounds and other PET radiopharmaceuticals. The contract is valued at €5–7 million.
India’s PET imaging market is expanding fast as access moves beyond the largest cities, increasing pressure on secure tracer supply. Shreeji is responding by adding four Cyclone® KIUBE 300 cyclotrons to its existing manufacturing network, bringing high-quality F-18 production closer to patients and reducing logistics risk while creating additional capacity for new tracers. The agreement further strengthens IBA’s presence in India and supports its mission to broaden timely, dependable access to PET diagnostics in cancer care, while building a high-quality installed base supporting long-term service and upgrades.
Shreeji selected the Cyclone® KIUBE for its high beam current capability, industrial reliability and clear upgrade path that keeps production flexible as tracer portfolios evolve. The platform enables sustained, GMP-compliant F-18 production today, while its efficiency contains operating costs across multiple sites and supports scalable, sustainable growth.
“At IBA, we are committed to having a positive societal impact everywhere in the world by enhancing access to cutting-edge care, and we are proud to advance that mission through this contract with Shreeji,” said Charles Kumps, President of IBA RadioPharma Solutions. “India's nuclear medicine community is growing fast, and reliable, local manufacturing is fundamental to patient access. Partnering with Shreeji to deploy multiple Cyclone® KIUBE systems creates a resilient, multi-node network that supports the next phase of PET growth in India while improving consistency of supply for clinicians and their patients.”
“IBA’s Cyclone® KIUBE gives us the capacity and flexibility we need to serve more centers, more reliably,” said Amit Maniar, Director, Shreeji., “With four new systems coming online, we are significantly boosting domestic production, strengthening supply‑chain resilience, and accelerating our ability to introduce next‑generation tracers that enhance patient care. We expect this expansion to stimulate latent PET demand by ensuring cost‑effective, dependable access to the full spectrum of F‑18 isotopes and emerging novel isotopes. It also positions us to support the next wave of healthcare growth across emerging hubs, while adding important redundancy to our network to ensure consistent, nationwide service.”