- New shareholders join the company
- Long-standing shareholders take part in the funding round
- Additional directors join the Board
Paris, November 24, 2015 - Magnisense, a biotech company that develops emergency diagnostic tests for cardiovascular diseases based on its disruptive proprietary technology, announces that it has successfully completed a funding round that raised €5.5 million to prepare for its European products launch.
Magnisense increases its share capital
New shareholders have bought stakes worth a total of €4.5 million, with the bulk of the investment coming from Minv. Magnisense’s long-term shareholders - primarily Provestis and Concorde Capital - have also taken part in the fundraising campaign.
Magnisense brings in new members to its Board of Directors
The Board of Directors has also bolstered its expertise in the healthcare industry by appointing three new members: Robert Taub, a well-known entrepreneur in biotechnology and representative of Minv, Jean-Pierre Dubuc, a seasoned executive from the pharmaceutical industry, and Lyse Santoro, CEO of Magnisense. These experts join the existing Board members, Jean-Patrick Voisin, Chairman of Magnisense and representative of Concorde Capital, Daniel Bernard, an experienced investor and entrepreneur and representative of Provestis, and Petr Nikitin, inventor of the technology.
Magnisense, emergency diagnosis of cardiovascular diseases
This capital increase provides Magnisense with additional resources and expertise to prepare for its European products launch. Magnisense develops robust, portable and economical quantitative blood tests used to diagnose myocardial infarction in 15 minutes. Following current care procedures at the hospital, this can take several hours. Magnisense’s tests will save lives, improve therapeutic care for people having a myocardial infarction and reduce long-term hospital stays, lasting damage and the need for lifelong assisted care. This technology will also lower direct and indirect public health costs associated with these diseases. The tests offer a solution adapted to meet a real need and to overcome the major public health challenges involved.
Lyse Santoro, CEO of Magnisense, said, “We are delighted to welcome Robert Taub and Jean-Pierre Dubuc to the Board of Directors of Magnisense. Their experience in the healthcare industry and their commitment give us a key advantage for the launch of our products in Europe. By joining Magnisense, they have acknowledged the quality of our teams, the validity of our strategy, the potential of our technology and its capacity to meet genuine market needs,” she stated. “Today Magnisense has the resources to achieve its goal of becoming an innovator in the emergency diagnosis of cardiovascular diseases. We are ramping up our operations to register, industrialize and prepare our products for the market while strengthening our partnerships with hospitals.”
About Magnisense: Magnisense is a private company that designs, develops and records emergency diagnostic tests for cardiovascular diseases, in particular myocardial infarction, for commercial use. These proprietary 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. The tests meet the needs of hospital emergency physicians and cardiologists in all respects: they produce quantitative and sensitive amounts of cardiac markers directly in whole blood in 15 minutes, using a robust, portable and decentralized instrument available at a competitive price. Magnisense was founded by the inventor of the technology and a group of business angels. The main investors are Daniel Bernard and Jean-Patrick Voisin. Its head office is in Paris, and its R&D laboratory, “Le Campus”, is located in the Lyonbiopôle life sciences cluster. Magnisense aims to become a leader in emergency cardiac diagnostics by commercializing competitive tests that address healthcare and economic issues. For further information: www.magnisense.com
About cardiovascular diseases: 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 accidents and the associated direct and indirect costs, a genuine medical need has developed for rapid, robust, portable and economical emergency diagnostic tests.
