Before everyone checks out for the Fourth of July holiday, let’s catch up on some recent Wisconsin innovation news:

—Shine Medical Technologies has raised $18 million in new funding, a combination of equity and stock options, according to a filing with the SEC. The round could reach $30 million, the document shows.

In November, Shine announced a $30 million-plus Series B funding round backed by undisclosed investors, as well as a deal with Deerfield Management to receive up to $150 million in financing that would be doled out in stages, based upon Shine hitting certain milestones. Janesville-based Shine is developing particle accelerator technology used to produce a crucial medical radioisotope. The company is constructing a manufacturing facility that is expected to begin commercial production in 2021, Shine said in November.

—Microsoft (NASDAQ: MSFT) will donate $1.25 million in cash to the University of Wisconsin-Milwaukee’s Connected Systems Institute, a collaboration between academia, industry, and government focused on developing connected device technologies for the industrial “Internet of Things.” The institute’s business partners include Seattle-based Microsoft, Milwaukee-based Rockwell Automation (NYSE: ROK), and Boston-based PTC (NASDAQ: PTC). Microsoft will also donate $250,000 worth of cloud computing services and $80,000 in computing hardware, according to a UWM press release. Read the full story here.