Magnisense ready to commercialise food contamination detection

Seeking Partnership

Magnisense, a developer of new generation bioassays for human and animal diagnostics, food safety and environmental protection is looking for partnership to commercialise its novel technology.

Having recently completed second round financing, the president of Magnisense, Luc Lenglet, stated that “Now we are definitely looking for partners to speed up turning our technology into commercial products.”

Based on superparamagnetic bead markers the innovative technology  allows for accurate and high speed testing methods.   Magnisense's MIAtek(TM) technology can quantify large volume samples without interference from environmental factors.  The magnetic signal permits a more sensitive and reproducible detection than possible with other surface-restricted approaches.  The technology has been developed for application at various levels including single dosing via a portable reader testing for diseases including flu, tetanus, and bacterial infections, as well as disposable cartridges detecting food or water contamination by such bacteria as salmonella or legionella.

The company is looking to develop its products in partnership with other diagnostics and detection companies: “Our strategy is to develop both proprietary products and licensed products together with companies active in human in vitro diagnostics, in veterinary diagnostics, or in food safety and environment quality monitoring,” said Lenglet.

Magnisense is interested in offering licensing opportunities: “Exploiting a unique feature of superparamagnetic bead markers, Magnisense's MIAtek technology provides true quantification of a large volume sample. The magnetic signal is free of interference from environmental factors, permitting a more sensitive and reproducible detection than possible with other surface-restricted approaches. MIAtek was developed from research carried out jointly with the Russian Academy of Sciences”, explained Lenglet, adding that “Discussions, evaluations and developments are going on with four different players at the time. Our first proprietary product is expected in the market in Q3 2008. It is a rapid test for emergency departments at hospital. Our first licensed product is expected on the market in Q2 2008. It is a rapid test for a field veterinary application.”

Magnisense has a history of collaboration with academia: “We have strong relationships with laboratories of the Russian Academy of Sciences, collaborations with the Chicago University and the Bufallo University,” said Magnisense's president, “and we are initiating a collaboration with the Ecole normale supérieure de Cachan in France.  Our key parner for biological development and magnetic bead sourcing and customizing is Indicia Biotechnology in France.”

Founded in 2003, Magnisense has raised two rounds of financing for a total of €6 million from Baring Vostok Capital Partners and private investors.  The company has offices in Luxembourg, France, Moscow and Philadelphia in the US.