Magnetic Insight Raises $3 Million to Advance MPI Technology

Magnetic Insight's NIH SBIR Phase II Grant

Key Highlights:

• Grant Award: Received a $3 million NIH SBIR Phase II Grant to support the development of Magnetic Particle Imaging (MPI) technology.
• Collaborative Research: Collaborating with the University of California Berkeley and Johns Hopkins for research on improving MPI spatial resolution and integrating magnetic fluid hyperthermia into clinical imaging.
• MPI Technology: Specializes in MPI, a tracer imaging technology system that offers enhanced image quality, simple logistics, and no radiation exposure.
• New CEO: Chris A. Raanes has been appointed as the new CEO of Magnetic Insight.

Magnetic Insight's Target Market

• Medical Research Institutions: Collaborating with universities and research institutions for the development and application of MPI technology.
• Healthcare Providers and Facilities: Hospitals, clinics, and imaging centers interested in adopting advanced imaging technologies with improved patient experience and reduced costs.
• Investors and Funding Partners: Venture capital firms and scientific grant providers supporting innovative medical imaging technologies.

What Magnetic Insight Needs to Buy

• Research and Development Partnerships: Collaborating with universities and research institutions for further research and development of MPI technology.
• Manufacturing and Supply Chain Solutions: Partnering with manufacturers to produce and distribute MPI imaging systems.
• Marketing and Sales Support: Engaging with marketing agencies and sales experts to promote and sell MPI technology to healthcare providers.