Magnetic Insight Secures $18M Series A Financing to Advance First New Diagnostic Imaging Modality Since CT, MRI, and PET

Recently, VCBeat (WeChat Official Account: vcbeat) learned from foreign media reports that Magnetic Insight (hereinafter referred to as “MI”) has recently completed its Series A financing round, raising $18 million. The round was led by 5AM Ventures, and upon completion of the financing, David Allison, a partner at 5AM Ventures, will join the board of directors of Magnetic Insight. It is reported that the proceeds will be used to expand MI’s commercial and operational teams, as well as to develop new applications for its MPI technology platform.

Magnetic Insight, founded in 2014 and headquartered in California, USA, was established by one of the leading global research teams in Magnetic Particle Imaging (MPI) from the University of California, Berkeley. The company is developing MPI solutions—a breakthrough technology that complements existing molecular imaging techniques. As a versatile new tool for cancer imaging, cell tracking, and angiography, MPI will address major limitations inherent in current clinical and translational research imaging technologies.

MPI tracers, composed of superparamagnetic iron oxide (SPIO), offer a safer alternative to iodine-based agents (used in CT and fluoroscopy) and gadolinium-based agents (used in MRI). They meet the clinical demand for safe, rapid 3D angiography without requiring ionizing radiation or toxic contrast agents to image intracranial pathologies such as stroke, aneurysms, vasospasm, and vascular malformations.

MPI is the first new diagnostic imaging technology introduced since the launch of CT, MRI, and PET more than 30 years ago. Unlike CT, MRI, and PET, magnetic particle imaging does not require toxic contrast agents or mutagenic radiation; it is driven by clinically approved SPIO nanoparticles, which have been proven safe for patients with weak or impaired renal function.

Cardiovascular and Inflammatory Imaging Requirements (Image source: Magnetic Insight official website)

For decades, researchers have been using nanoparticles in MRI and CT, and many research groups have demonstrated that nanoparticles can target inflammation, atherosclerotic plaques, cancer, and more. These nanoparticles are easily broken down in the body into hemoglobin. MPI can perform the same experiments but with higher contrast, sensitivity, and quantification compared to MRI and CT. MPI tracers are also safe and translatable, fully supporting long-term diagnostic monitoring without cumulative radiation or toxicity.

The advantages of MPI lie in the flexibility, safety, and longevity of its tracers. The ultra-high sensitivity of MPI not only enables early diagnostic detection but also supports novel approaches in translational protocols for tracking human cells, thereby allowing for earlier assessment of therapeutic efficacy. For instance, MPI is particularly well-suited for immune and stem cell tracking, as no other technology can currently track small cell populations within the human body over the long term.

Magnetic Insight has made magnetic particle imaging (MPI) its core technology, dedicating all five rounds of financing since its inception to the research and development of this technology. Investors are also highly optimistic about MPI technology. In a press release, David Allison, Partner at 5AM Ventures, stated, “Magnetic Insight has the opportunity to transform in vivo imaging and become a key tool in life sciences research with significant long-term clinical application potential. We are excited to collaborate with the Magnetic Insight team to drive new application areas and expand the company’s scale globally.”

5AM Ventures, founded in 2002, is a venture capital firm primarily focused on next-generation life sciences. It mainly invests at the seed and early stages, aiming to provide funding for early-stage life science companies. The firm’s portfolio includes companies in the biopharmaceutical, life sciences, medical technology, and research instruments sectors. Since its inception, 5AM Ventures has invested in more than 70 companies and manages over $1.4 billion in assets.