HomeUSAMagnetic Insight Receives $3M in Grant Funding

Magnetic Insight Receives $3M in Grant Funding

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Magnetic Insight

Magnetic Insight, an Alameda, CA-based magnetic particle imaging (MPI) vompany, received a $3M NIH SBIR Phase II Grant.

This recent grant award augments funding from a separately announced collaborative NIH U01 grant with the University of California Berkeley to improve Magnetic Particle Imaging (MPI) spatial resolution and accelerate imaging applications for CAR-T cell therapies, stroke, gastrointestinal (GI) bleeds, and pulmonary embolisms, and an ongoing collaborative NIH Phase II SBIR grant with Johns Hopkins to integrate magnetic fluid hyperthermia into Magnetic Insight’s clinical imager under development to expand MPI’s application base beyond cancer diagnosis to include cancer treatment.

Magnetic Insight specializes in MPI, a tracer imaging technology system that offers enhanced image quality, simple logistics without time-critical deliveries, and no radiation exposure, enabling new applications and improving patient and doctor experience while reducing overall healthcare costs.Ā 

The company announced Chris A. Raanes as a new CEO.

The company is supported by a combination of venture capital funding from technology investors, including Celesta Capital and 5AM Ventures, and scientific grant funding from the National Institutes of Health (NIH).Ā 

FinSMEs

11/04/2024

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