Imagion Biosystems (ASX:IBX) - CEO & Executive Chairman, Bob Proulx
CEO & Executive Chairman, Bob Proulx
Source: HotCopper
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  • Cancer detection company Imagion Biosystems (IBX) will work with Boston University on the next generation of imaging technology
  • Imagion will now have priority access to new technologies and intellectual property being developed by the university
  • Researchers are developing ultrasensitive magnetic sensors that could simplify the company’s MagSense detection system
  • If successful, the new sensors could allow the use of MagSense cancer detection technology in doctor’s offices, as well as hospitals
  • Imagion is up 2.33 per cent on the market today and is trading for 4.4 cents per share

Cancer detection company Imagion Biosystems (IBX) will work with Boston University on the next generation of imaging technology.

The company has become a member of the Nanosystems Engineering Research Centre at Boston University. Researchers at the university are currently developing ultrasensitive magnetic sensors that could simplify Imagion’s MagSense detection system.

If the researchers are successful, the new sensors could allow the use of MagSense cancer detection technology in doctor’s offices, as well as hospitals.

The centre is funded by the U.S. National Science Foundation (NSF) and is developing next-generation cellular metamaterials technologies with a primary focus on advancing nano-bio-manufacturing methods.

The membership will provide Imagion with priority access to new technologies and intellectual property being developed by the centre.

Specifically, Imagion is interested in the centre’s use of MicroElectro-Mechanical systems (MEMs) as ultrasensitive magnetometers, which could be applied in detecting cardiovascular events and bio-medical imaging.

MEMs are used in everyday technology such as mobile phones and gaming devices. For Imagion, MEMs sensors can significantly reduce the size and cost of the MagSense system.

Executive Chairman Bob Proulx is very excited about the membership.

“Historically, we have focused on using known technologies like superconducting quantum interference devices, so-called SQUIDs, because they are proven technologies,” he said.

“Having visibility and access to cutting-edge innovative technologies through our membership with the Center could enable us to produce imaging systems that don’t need cryogenic cooling and are more versatile, expanding the commercial opportunity for our MagSense system,” Bob added.

Head of the Division of Materials Science and Engineering at Boston University and Director of the centre, Dr David Bishop, is pleased to welcome Imagion.

“We are always keen to have industry partners as members to help focus our research projects on practical applications that can translate from academic research to commercial value,” he said.

“We see Imagion’s MagSense technology as being a good match and look forward to collaborating with them,” David added.

Imagion is up 2.33 per cent on the market today and is trading for 4.4 cents per share at 12:21 pm AEST.

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