Rusnano and Magnisense to Collaborate on Advanced Diagnostic Systems

Rusnano will invest up to EUR 28.5 million over a three-year period in the project whose total cost is estimated to be EUR 44.3 million. The remaining coinvestment will come from Magnisense's existing and new shareholders.

The advanced diagnostic system will be based on Magnisense's technology MIAtek—a magnetic immunoassay in which nanosized magnetic beads are attached to an antibody that selectively binds target molecules, microorganisms, or other antibodies in test media.

Magnisense will establish a Russian subsidiary to produce the MIAstrip, a point-of-care testing strip that identifies a target by detecting known markers for a number of conditions—cardiac arrest, bacterial infections including tetanus, viral infections such as avian flu, and parasitic and fungal infections. The magnetic signal is free of interference from environmental factors, permitting more sensitive and reproducible detection than is possible with traditional markers employed in enzymatic and fluorescent technologies.

"Transferring this technology to Russia will involve establishing a production facility and an R&D center," said Rusnano managing director Olga Shpichko. "The project will contribute to the array of new diagnostic and treatment methods being developed in the country with Rusnano's help."

In addition to medical applications, Magnisense is developing tests to monitor the quality of food and air. The company’s technology provides accurate measures of biological targets, singularly or in combination, even in large-volume samples.

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