Endomagnetics cited as one of the UK’s ‘most promising healthcare technology businesses’

Endomagnetics Limited, the UCL spinout company pioneering the use of magnetic sensors for cancer staging and treatment, has recently been highlighted as one of the UK’s most promising healthcare technology businesses by the Technology Strategy Board (TSB).

In selecting Endomagnetics as one of only twenty UK companies that are being invited to participate in the UKTI-supported Future Health Mission 2011, which takes place in January 2011, Iain Gray, the Chief Executive of the TSB, commented: ‘Each of these 20 companies is a pioneer and the TSB are working with them because we want to see these businesses find their place in what looks set to become a fast-growing international market.’

Endomagnetics is also making significant progress on the regulatory front, having recently achieved CE Mark approval for its SentiMag™ product – a new surgical instrument used to locate lymph nodes in the treatment of cancer. The use of the SentiMag in conjunction with magnetic tracers eliminates the need for radioactive materials and dramatically extends the availability of sentinel lymph node biopsy (SLNB) in breast cancer staging. This approval certifies that the product has met EU safety, health and environmental requirements, and clears the way for its adoption by clinicians across Europe. ‘Endomagnetics is excited to achieve CE approval for the SentiMag,’ said Dr Eric Mayes, CEO of Endomagnetics Ltd, adding: ‘This approval makes this system available across the EU, which is good news for clinicians and patients alike.’

UCL Business PLC is the lead investor in Endomagnetics Ltd and having recently returned from the San Antonio Breast Cancer Symposium (SABCS), where Endomagnetics was showcasing its SentiMag solution to an audience of 8000 breast cancer surgeons and oncologists, Dr Steven Schooling commented that: ‘the feedback from delegates at SABCS was that SentiMag will allow best practice SLNB to be performed anywhere, by any practitioner, without substantially changing their working practice. UCL Business looks forward to working with the Endomagnetics management team in the months ahead in order to capitalise on this exciting opportunity.’