Imagion Biosystems, a company dedicated to enhance healthcare via the earlier detection of cancer, has teamed up with healthtech innovation and commercialization company Planet Innovation for MagSense instrument development
Under the Master Service Agreement, Planet Innovation’s engineering and product development team will work with Imagion Biosystems to develop Imagion Biosystems’ MagSense instrument technology.
Together the two companies will work on design concepts and the development of prototype systems that can be used by Imagion in its key pivotal clinical study for regulatory and commercial clearance.
Planet Innovation is highly experienced in developing such regulated medical devices and has received multiple awards for their innovation and design excellence in Australia and the USA. Working with Planet Innovation, Imagion Biosystems will be eligible for future R&D tax incentive refunds on this development work.
Imagion Biosystems executive chairman Bob Proulx said: “We are very excited to team up with Planet Innovation to assist us in the next steps towards commercialization of the MagSense™ technology.
“As we are rapidly approaching our first in human study for the nanoparticle component of our technology, we now need to add focus on the instrument platform. Planet Innovation is a world class engineering and design firm that can take our expertise and know-how on the MagSenseTM instrument technology to help us develop our first clinical and commercial product.”
PI Design managing director Ian Macfarlane said: “We believe the MagSense system can change the way cancer is detected and treated. We look forward to working with the team at Imagion Biosystems to help bring this potentially life-saving technology to market.
“PI has a strong record of developing and manufacturing innovative diagnostic products and we’ll work closely with Imagion to get this exciting new technology into trials and available to patients in the shortest possible time.”
Imagion has recently reported progress on nanoparticle development for its early feasibility first-in-human study planned for the breast cancer test in the first half of 2019. That study will not require the clinical instrument and will take place following a toxicology study for biological safety of the MagSense nanoparticle formulation for human use.
Toxicology safety studies are a standard, but very important step, often considered a significant de-risking milestone in pharmaceutical development.
Source: Company Press Release