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Magnetic Insight Secures Seed Funding to Accelerate Development of Magnetic Particle Imaging Technology

Medical imaging startup raises the bar in imaging safety and sensitivity by harnessing a unique nanoparticle detection technology, transforming preclinical research and development with direct translation to clinical imaging diagnostics.

NEWARK, California, USA April 15, 2015 – Magnetic Insight Inc., a developer of innovative imaging technologies for quantitative angiography and non-invasive cell tracking in research and the clinic, announced today that the company has secured an undisclosed amount in seed funding from a prominent life science investor, and an SBIR technology award.

Drs. Anna Christensen, Patrick Goodwill, and Steven Conolly founded Magnetic Insight to commercialize Magnetic Particle Imaging (MPI), a novel technology developed by Steven Conolly’s lab at the University California Berkeley. The lab’s efforts were supported with over $12M in research investments.

“Magnetic Particle Imaging has taken 10 years to develop into a ground breaking imaging technology. We are now imaging functional biology and disease states non-invasively with the sensitivity of nuclear medicine, the resolution of MRI and the workflow of optical. MPI will accelerate efforts in live cell therapeutic development and research in immunology, cancer, stem cell and translational vascular function with its ability to monitor events through great lengths of time. Our current investment round allows us to bring more biologists in contact with the technology and create a foundational user base,” said Anna Christensen, Co-founder and CEO of Magnetic Insight.

The company is being accelerated by Silicon Valley’s most prominent startup programs which includes StartX and BayBio Fast.

About Magnetic Insight

Magnetic Insight is a startup diagnostic imaging company accelerating preclinical research with direct translation into the clinic with its ultrasensitive, safe and quantitative Magnetic Particle Imaging (MPI) technology. Harnessing high contrast detection of iron oxide nanoparticles, MPI will provide faster, safer and more accurate detection of cells, blood flow and targeted biological events. For more information, contact info@magneticinsight.com.

About StartX

StartX is a 501(c)(3) Stanford-affiliated nonprofit in Silicon Valley that runs one of the world’s top startup accelerator programs. Our mission is to advance the development of the best entrepreneurs through experiential education and collective intelligence. Since launching in 2010, we have supported more than 160 companies and 370 entrepreneurs across a wide spectrum of industries. StartX provides founders with access to a powerful network of entrepreneurs, investors, mentors, and industry partners, along with office space and a variety of other resources. We are supported by Stanford University, Stanford Hospital & Clinics, Kauffman Foundation, Microsoft, Steelcase, Intuit, Blackstone Charitable Foundation, Greylock Partners, Draper Fisher Jurvetson, Sequoia Capital, Merck, Genentech, Johnson & Johnson, and many others. For more information, visit startx.stanford.edu.

About BayBio

BayBio provides comprehensive support and solutions tailored to the unique needs of nearly 1000 Bay Area life science companies and institutions, delivering tangible value through group purchasing savings, capital access, government affairs & advocacy, networking and best-practice sharing. The Fellows All-Star Team (FAST) Advisory Program, a team-based business advising program that connects qualified startups with the strength and experience of the world’s leading life science cluster. The FAST Program provides select entrepreneurs with the intensive team review and coaching to perfect their business model, product development plans, and to build a compelling commercialization strategy. www.baybio.org

Contact:
Anna Christensen
info@magneticinsight.com