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Endomagnetics, the company developing a portfolio of products to improve the standard of breast cancer management, has been selected as one of the UK's most exciting, high-potential new businesses by the Real Business Future 50 project.
The Future 50 companies were unveiled at a ceremony at the British Library Conference Centre in London last night, organized by Real Business in conjunction with Wonga.com. The programme was launched in 2011, and identifies, celebrates and supports young companies that are triggering change in their markets, or creating new markets.
Endomagnetics was founded by Simon Hattersley, Audrius Brazdeikis and Quentin Pankhurst to develop nanomagnetic technology as an alternative to the radioisotopes currently used for tracking the spread of cancer. By avoiding the problems of short lifetimes and specialist handling of radioactive alternatives, as many as a quarter of a million more breast cancer patients in the West could benefit from the ‘standard of care' SLNB procedure. With a special nanomagnetic system consisting of the SentiMag® instrument and associated Sienna+® tracer, clinicians have available a lower cost, more patient-friendly alternative that greatly improves workflow.
Dr Eric Mayes, CEO of Endomagnetics was asked to give a short presentation to the invited audience. In this he said: "We are naturally delighted to have been selected by this important programme. Since the spin-out from UCL in 2007, we have been well-backed by our investors and have just completed a 160-patient equivalence trial at seven sites in the UK and The Netherlands."
Matthew Rock, part of the founding team of Real Business, said: "Partnering with Wonga, the British Library Business & IP Centre and our panel of expert judges, we've spent six months investigating businesses across the country to select just 50 that we think will be 'challenger' businesses of the future. What's so impressive is to see young firms challenging established industries with a new, often digital, vision. The Wonga Future 50, published with Real Business, illustrates the dynamic change coursing through our economy."
Errol Damelin, Wonga co-founder and CEO, said: "We decided to create the Wonga Future 50, together with Real Business, to help identify, celebrate and, critically, support the most exciting early-stage UK businesses that are launching new products and services to trigger change. We congratulate all 50 businesses on their vision and ambition."
In August, Endomagnetics announced that it had been awarded government funding to explore the clinical feasibility of applying magnetic sentinel lymph node (SLN) detection to melanoma, a significant cancer with more than 116,000 cases per year in the EU and US alone.
Endomagnetics was founded to solve cancer staging and healthcare challenges through the application of advanced magnetic sensing technology and nanotechnology. Endomagnetics is developing a portfolio of medical device products based on a patented ability to detect magnetic materials in the human body with exceptional sensitivity. The technology was originally developed at University College London and the University of Houston.
The company’s first product, the SentiMag®, is an ultrasensitive hand-held probe for tracking injected Sienna+™ nanoscale magnetic materials in the human body. Cambridge, UK-based Endomagnetics is in the process of delivering its technology to global markets. For more information please visit www.endomagnetics.com.
About Real Business
Real Business was the UK’s first magazine focused on entrepreneurs and growing businesses. Today Real Business runs a portfolio of events and publishing projects focused on the UK’s most dynamic growth businesses.
Wonga is a ground-breaking digital finance company based in London. Since 2007 when the company launched its first website, wonga.com, it has gone on to make more than six million loans via the web and mobile. The company’s products are designed to solve customers’ occasional cash flow problems in a short-term and completely responsible way.
The company recently launched its new platform www.openwonga.com to engage in conversations on the internet (social media, blogs, media articles etc.) and to inform the debate surrounding the business.
Wonga is backed by some of the world’s most respected investors including Accel Partners, Greylock Partners, Balderton Capital, Oak Investment Partners, Dawn Capital, Meritech and the Wellcome Trust.
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Tel: +44 (0)7923 540695
Dr Eric Mayes
Tel: +44 (0)1223 437131
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