French public investment bank Bpifrance has selected the Miatek instrumentation and innovation (MI2) project of Magnisense, Paris, to receive €1.2 million in financing for innovation over a 2-year period.

Headquartered in Paris, Magnisense is a private company that designs, develops, and markets emergency diagnostic tests for cardiovascular diseases, in particular myocardial infarction. The tests use Magnisense’s groundbreaking Miatek technology, based on magnetic nanomaterials, which is protected internationally by five families of patents issued in Europe and the United States.

Cardiovascular diseases are the leading cause of death worldwide, killing 17 million people every year. As the population ages, this figure is expected to reach 24 million by 2030. Given the sharp increase in cardiovascular incidents and the associated direct and indirect costs, a genuine medical need has developed for rapid, robust, portable, and economical emergency diagnostic tests.

Sabatin

Claude Sabatin, Bpifrance

Launch of the MI² project will enable Magnisense to bring its products to market faster while boosting its competitive edge and intellectual property in the field of emergency diagnostic tests for cardiovascular diseases. The MI² project also aims to drive the potential of the company’s proprietary MIAtek technology in its product pipeline.

“Magnisense’s MI² project immediately caught our interest, as it responds to the urgent need for decentralized emergency diagnostics in healthcare, while offering attractive commercial potential,” says Claude Sabatin, Bpifrance innovation representative. “By coming on board this project, Bpifrance supports its innovation portfolio even further.”

Bpifrance has been a Magnisense partner for several years, and has supported the development of the company. The bank has cofinanced a number of Magnisense research and development projects, attesting to the innovation and appeal of its technology, development plan, and products.

Santoro

Lyse Santoro, Magnisense

Magnisense cardiovascular tests are designed to meet the needs of hospital emergency physicians and cardiologists. They detect levels of cardiac markers directly in whole blood in 15 minutes, and provide quantitative results using a robust, portable, and decentralized instrument available at a competitive price.

“The support offered by Bpifrance to Magnisense over the years and through the MI² project has been extremely valuable and contributed significantly to the company’s financial and technological development,” says Magnisense CEO Lyse Santoro. “By initiating this new project, we can bring our products to market faster.”

Bpifrance selection of the MI² project came as Magnisense inaugurated its new R&D laboratory in Dardilly, near Lyon, France, on January 30. Located at the Le Campus site, the facility features new offices suited to the company’s expansion.

For the inauguration event, Magnisense brought together representatives of its leading partners, including Etienne Gayat, MD, of Lariboisière Saint Louis Hospital, Paris; and representatives from Bpifrance; the Paris public hospitals group Assistance Publique Hôpitaux de Paris; and partners from regional and national academic institutions and industry.

Magnisense aims to become a leader in emergency cardiac diagnostics by commercializing competitive tests that address healthcare and economic issues. For further information, visit Magnisense.