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Magnisense SE. (10/24/18). "Press Release: Magnisense Successfully Raises € 5 Nillion to Boost the Commercial Development of Its MiAG Emergency Diagnostic Tests for Heart Diseases". Paris.

Organisations Organisation Magnisense SE
  Group Magnisense (Group)
  Organisation 2 Meusinvest (BE)
  Today Noshaq S.A.
  Group Noshaq S.A.
Products Product MiAG® test (product series)
  Product 2 venture capital
Persons Person Santoro, Lyse (Magnisense 201511 CEO)
  Person 2 Foidart, Marc (Épimède 201711 Investment Manager)

> One of the new shareholders is an investment fund

> All existing shareholders have participated in the funding round

> 2 MiAG® products are already on the market and covered by health insurance

Diagnosing heart diseases, a global health issue

Magnisense, a pioneering company that develops, registers, manufactures and markets mobile and connected MiAG® tests for the emergency diagnosis of cardiovascular diseases, announces it has successfully completed a new funding round, raising € 5 million in total. Meusinvest, a Belgian investment fund, and three new private shareholders participated in this round, alongside existing shareholders, including Provestis, Concorde Capital and Minv.

The capital increase will help to boost the commercial presence in Europe for the test already marketed. It will also boost the development and the launch of other new MiAG® tests, in order to commercialise an entire range of tests for emergency and prevention diagnostic .

"It's a privilege for us to welcome new shareholders, including our first investment fund Meusinvest, an active actor in the medtech field in Europe. We thank the new investors for their confidence in our vision and in our delivery capacity. They understand the potential of the MiAG® tests on the current in vitro diagnostic market. We also warmly thank the shareholders who have been supported the development of the company during these last years, for their renewed commitment. This fund raising will enable us to gain market share in the B2B market, while preparing the launch of our dedicated test to the B2C market," said Lyse Santoro, CEO of Magnisense.

Marc Foidart, deputy CEO of Meusinvest said: "We are delighted to welcome Magnisense within the portfolio of Meusinvest group. We were attracted by the pertinence of the positioning of Magnisense offering, as well as by the quality and the ambition of the team and the project. Furthermore, the activities that Magnisense aims to develop in Liège (Belgium) will further reinforce a high growth cluster of companies active in the field of cardiovascular diseases, also joined by Miracor (Austria) and Mitral Technologies (USA) these last twelve months. We will make every effort for Magnisense to benefit clear synergies with some of them in terms of market access and networking".

The MiAG® tests are based on a proprietary breakthrough technology using magnetic nanoparticles and patented worldwide. The mobile and connected MiAG® is dedicated for quantitative dosage of cardiac biomarkers directly in whole blood at the patient's bedside. Powered by battery, the MiAG® device can perform 3 tests in parallel, in only 15 minutes, with easy manipulations. These tests are highly adapted for emergency diagnosis by biologists, emergency and intensive care physicians, in situations when every minute is crucial to save lives and to initiate the therapeutic treatment as soon as possible. These tests are also highly adapted to perform a preventive diagnosis for the patient follow up, in particular to prevent the emergency recurrence after hospitalisation or to prevent the progression of a chronic disease.

The company already launched two CE marked MiAG® tests in Europe for the diagnosis of heart attack and heart failure (MiAG® | cTnI and MiAG® | bnp). These two tests are already reimbursed by health insurance, facilitating their market access. A third CE-marked product is set to be launched soon. The MiAG® tests have been awarded the 2018 "JANUS Health Prize" and the 2019 "Observeur Award," confirming their innovative character.

"Our ambition is to become one of the pioneers in rapid diagnostic to improve patient care and to build the future of medicine. We are fully in line with the orientations outlined in the French Government's latest 'Health Plan.' No other product on the market currently enables to perform such mobile and connected quantitative tests for emergency and prevention diagnosis," said Ms. Santoro.

Much as the mobile phone has revolutionized the telecom industry and changed our lifestyle, the mobile and connected MiAG® tests will revolutionize the diagnostic industry for a better patient care.

About heart diseases

The diagnosis of heart diseases is a global public health issue. As the world's leading cause of death, heart diseases are responsible for 17 million deaths worldwide every year. This figure is expected to reach 24 million by 2030, as the world population keeps aging. The current global market for in vitro diagnostics intended to the cardiovascular field is growing accordingly and could rise from $ 5.0 billion in 2016 to $ 13 billion in 2021, with a 12.8% CAGR [i]. The hospital emergency sub-segment is estimated to have reached $ 2 billion in 2016 (according to IVS market reports). According to the significant increase of cardiac events and related costs, there is a strong need for fast, robust, mobile and cost-effective emergency tests.

About Magnisense

Magnisense is a privately held med-tech company that designs, develops, registers and markets rapid, mobile and connected diagnostic tests for heart diseases. After several years of research and development, the company is now reaching the market. These proprietary tests are based on MIAtek®, a technology that uses magnetic nanomaterials and is protected by worldwide patents. The tests fully meet the expectations of biologists and hospital doctors, allowing for quantitative and sensitive assays of cardiac markers in just 15 minutes and directly in whole blood, using a robust, portable and decentralized method at a competitive price. Magnisense was founded by the inventor of the technology, with a group of business angels, including Daniel Bernard and Jean-Patrick Voisin. The company's head office is based in Paris (France) and its laboratories are located on "Le Campus," in the heart of Lyon's Biopôle.

For more information:

Press contacts:

+33 (0)1 45 62 80 00

Alize RP:
Najette Chaid,
+33 (0)6 47 38 90 04
Caroline Carmagnol,
+33 (0)6 64 18 99 59

[i] According to a 2010 report from the Haute Autorité de Santé.

Record changed: 2023-06-05


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