Magnetic Insight, Inc., a Alameda, Calif.-based developer and manufacturer of transformational in vivo imaging platforms, raised $18m in Series A financing.
The round was led by 5AM Ventures. In conjunction with the financing, David Allison, PhD, Partner at 5AM Ventures, and Joe Victor, CEO of RareCyte Inc, will join the board of directors.
The company intends to use the proceeds to expand the commercial and operations teams, scale manufacturing, and develop new application areas for the technology.
Led by Anna Christensen PhD, President and CEO, Magnetic Insight is a life science tools company that has commercialized Magnetic Particle Imaging (MPI), a new in vivo imaging modality that directly detects magnetic tracers, enabling deep tissue imaging of functional events and pathologies not possible with current technologies.
The company has been supported by prominent startup incubators, including StartX, CLSA Fast, and NIH C3i, and backed by Sand Hill Angels, CEG Ventures, StartX-Stanford Fund, and SVTech Ventures. It also received grant funding from the Small Business Innovation Research (SBIR) program of the National Institutes of Health (EB020463).