Phoenix Nuclear Labs is bolstering its bank account, beefing up staff and adding to its quarters.

Phoenix, a Monona company that makes neutron and proton generators used in the health, defense and energy fields, raised $12 million this fall, in a round led by a new investor, Deerfield Management Co., a New York health care investment firm. Most of the money is in the form of a loan that eventually is expected to be converted to stock in the company, if Phoenix reaches certain milestones.

“We have worked with the Phoenix management team over the course of two years leading up to our investment, and we have great confidence in its ability to execute its vision and continue to grow Phoenix into a leading global technology company,” said Steve Hochberg, a partner on Deerfield’s private transactions team. Read the full story here.