Particle accelerator technology company Ion Beam Applications S.A. (IBA) (Euronext Brussels:IBAB) on Thursday announced a new agreement with Shreeji Imaging and Diagnostic Centre Pvt Ltd, an Indian manufacturer and distributor of fluorodeoxyglucose (FDG) and positron emission tomography (PET) radiopharmaceuticals.

The multi-site agreement covers the delivery and installation of four Cyclone KIUBE 300 cyclotrons 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 EUR5-7m.

Shreeji's expansion addresses growing demand for PET imaging in India, improving access outside major cities, reducing logistics risks, and creating capacity for new tracers.

The Cyclone KIUBE 300 was chosen for its high beam current, industrial reliability, and upgrade flexibility to support evolving tracer portfolios. IBA's systems will enable GMP-compliant, cost-efficient F-18 production across multiple sites while strengthening its installed base and service network in India. The agreement reinforces IBA's position in nuclear medicine and supports scalable, sustainable growth in PET diagnostics for cancer care.