Imagion Biosystems Ltd. has announced that NewPhase Ltd., an Israeli biotechnology company developing cancer treatments, has placed an order totaling approximately $300,000 for the supply of Imagion’s magnetic nanoparticles. Headquartered in Melbourne, Australia, Imagion is a developer of magnetic nanoparticles and a diagnostic instrument for using them in the early detection of cancer.
NewPhase is developing a proprietary cancer therapy based on hyperthermia which is the principle of killing cancer cells by heating them. NewPhase’s treatment approach incorporates the use of Imagion’s iron oxide nanoparticles into a nanoparticle matrix that targets cancerous tumors. The therapeutic approach, also known as sub ablative hyperthermia, is intended to kill only cancer cells and be harmless to normal tissue.
“We are very pleased to continue to supply NewPhase with our nanoparticles,” said Bob Proulx, executive chairman of Imagion. “Partnering with companies that can leverage our core nanoparticle technology for complementary medical applications is a key element of our commercial strategy. It is clear we have significant opportunities to monetize our underlying technology for both the detection and treatment of disease.”
Imagion’s PrecisionMRX nanoparticles are composed of superparamagnetic iron oxide cores and extensively characterized to ensure narrow size dispersity. According to the company, their high superparamagnetic susceptometry and tight control over size makes them ideal for size-sensitive applications such as superparamagnetic relaxometry, magnetic resonance imaging contrast, magnetic particle imaging contrast and magnetic hyperthermia.
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