Endomagnetics Ltd secures strategic distribution agreement
UCLB spinout company, Endomagnetics Ltd, is developing a portfolio of products to improve the standard of breast cancer management.Today, Endomagnetics have announced the signing of a distribution agreement with Sysmex Europe GmbH, a subsidiary of global healthcare company Sysmex Corporation. Sysmex have been granted the exclusive right to provide sales and support for Endomagnetics’ SentiMag® system across the Europe, Middle East and Africa (EMEA) regions. This is Endomagnetics’ first multi-region agreement, and it promises to extend widely the clinical use of the company’s technology.
The SentiMag® system is used as part of the current standard sentinel lymph node (SLNB) technique, used by surgeons to monitor the spread of cancer and to plan interventions. Unlike the present system,Endomagnetics’ technology can be used by surgeons as part of an efficient workflow, and does not require specialist technicians to store and manage radioisotopes. Patients are spared the anxiety of radioactivity and the possible need to attend multiple clinics. The system consists of the highly sensitive SentiMag®instrument and its associated tracer, Sienna+®. The system is currently in use in 8 countries across the EU: UK, Germany, Poland, France, Italy, Belgium, Holland, and Switzerland.
Endomagnetics cited Sysmex’s strong history of customer support, compatible product pipeline and focus on healthcare innovation in developing this strategic relationship. Sysmex is the global market leader in haematology, and has built on its successes in diagnostics to innovate in the life science field. In particular, Sysmex has developed a molecular diagnostics assay called OSNA (One Step Nucleic Acid Amplification). This assay enables complete lymph nodes to be analysed quickly, and is used routinely for analysing sentinel lymph nodes for breast cancer in about 200 hospitals across Europe.
CEO of Endomagnetics Dr Eric Mayes commented: “We are extremely pleased with initial customer feedback, and partnering with a group as strong as Sysmex gives us the geographic scope and customer support we need to really make an impact. We have been extremely impressed with the enthusiasm of the Sysmex team in supporting our joint product launch.”
Dr Steven Schooling, Director of Physical Sciences, Engineering, Built Environment and Social Sciences at UCLB commented “The agreement with Sysmex is a major milestone in the development of Endomagnetics, as it leverages a well-established channel to drive forward the adoption of the company’s innovative Sentimag® system within the EMEA region and provides a strong platform for further investment and growth“.
Endomagnetics was founded to solve cancer staging and healthcare challenges through the application of advanced magnetic sensing technology and nanotechnology. Endomagnetics is developing a portfolio of medical device products based on a patented ability to detect magnetic materials in the human body with exceptional sensitivity. The technology was originally developed at University College London and the University of Houston.
The company’s first product, the SentiMag®,is an ultrasensitive hand-held probe for tracking injected Sienna+®nanoscale magnetic materials in the human body. Cambridge, UK-based Endomagnetics is in the process of delivering its technology to global markets.
For more information, please visit: www.endomagnetics.com
Sysmex is a global group, with more than 40 overseas subsidiaries conducting business in more than 170 countries. It develops, produces and sells instruments, reagents and software used in in-vitro diagnostics in hospitals and testing centres.In the global market, Sysmex ranks in the top 10 in diagnostics. In haematology, it holds the top share of the global market.
Overseas business development has been a focus for Sysmex since it was founded. It operates R&D, production, sales and customer support facilities around the world to ensure products and services are delivered that meet the needs of the customer in each region. Principal clinical areas of activity are: Haematology, Haemostasis, Immunochemistry, Urinalysis, Clinical Chemistry and Life Science.
UCLB is a leading technology transfer company that supports and commercialises research and innovations arising from UCL, one of the UK’s top research-led universities.
UCLB has a successful track record and a strong reputation for identifying and protecting promising new technologies and innovations from UCL academics. It invests directly in development projects to maximise the potential of the research and manages the commercialisation process of technologies from the laboratory to market.
UCLB supports UCL’s Grand Challenges of increasing UCL’s positive impact on and contribution to Global Health, Sustainable Cities, Intercultural Interaction and Human Wellbeing.
For further information, please visit: www.uclb.com