Magnetic Insight develops magnetic particle imaging (MPI), a tracer imaging technology that offers enhanced image quality, simple logistics without time-critical deliveries, and no radiation exposure. The company is developing a clinical MPI imager and is working to expand MPI applications into areas such as CAR-T cell therapies, stroke, gastrointestinal bleeds, and pulmonary embolisms. Recent work includes integrating magnetic fluid hyperthermia into the clinical imager to broaden MPI use from cancer diagnosis to potential treatment. Magnetic Insight announced Chris A. Raanes as its new CEO. Its R&D and development efforts are supported by scientific grant funding from the National Institutes of Health and venture capital from technology investors including Celesta Capital and 5AM Ventures. The company is based in Alameda, CA. Magnetic Insight develops magnetic particle imaging (MPI) technology to directly image and monitor cell therapies in patients. The company sells a suite of MPI products including the Momentum CT MPI imager, VivoTrax and VivoTrax+ reagents, Relax MPI relaxometry software, and MagImage analysis software. Founded and led by CEO/CTO Patrick Goodwill and co‑founder Steven Conolly, Magnetic Insight began in the preclinical space selling small‑animal products to universities and research centers and is now scaling MPI for clinical use. Its initial clinical focus is monitoring cell therapies (e.g., CAR‑T, NK) in cancer patients to track location, migration, persistence, and quantity of therapeutic cells. Multiple academic medical centers are already using its products, including Stanford Medicine, Johns Hopkins, Karolinska Institute, and others. The company raised funding to support continued growth and the clinical expansion of its MPI technology. Magnetic Insight develops and manufactures in vivo imaging platforms based on Magnetic Particle Imaging (MPI), a modality that directly detects magnetic tracers for deep tissue imaging of functional events and pathologies. The company has commercialized MPI and positions the technology as enabling imaging capabilities not possible with current technologies. It is led by Anna Christensen, PhD, who serves as President and CEO. Magnetic Insight has support from startup incubators including StartX, CLSA Fast and NIH C3i, and has received SBIR grant funding (NIH EB020463). The company intends to use recent financing to expand commercial and operations teams, scale manufacturing, and develop new application areas for its technology. The business is based in Alameda, California. Magnetic Insight commercializes Magnetic Particle Imaging (MPI), a modality that directly detects magnetic nanoparticle tracers to enable deep-tissue imaging of functional events and disease states. The company markets the Magnetic Insight Momentum™ Magnetic Particle Imaging System. Led by President and CEO Anna Christensen, PhD, Magnetic Insight is positioned as an early-stage diagnostic imaging firm based in Alameda, Calif. The company recently secured an oversubscribed seed financing of $3M. Management intends to use the proceeds to support global commercialization of the Momentum MPI system. No operating metrics were disclosed in the article.

Total raised

$41M

Funding rounds

4

Latest round

Grant

Latest activity

Apr 2024