UCL is today launching the UCL Technology Fund to invest £50 million in commercialising its world-leading research emerging over the next five years.
UCLB spinout company, Endomagnetics Wins a Life Sciences Award by the Science Business Innovation Board
24 February 2012
The award - given as part of the Science Business Academic Excellence Awards (ACES) - was to recognise Endomagnetics as one of the most promising European university life sciences spin-out companies and was announced at the European Entrepreneurship Summit in Brussels on Tuesday.
In selecting Endomagnetics as the winner, the judges highlighted the novelty of the company's research, its clear evidence of commercial success and the potential impact its products would have on society.
The company, using technology developed jointly by UCL and the University of Houston and funded by an investment syndicate led by UCLB, is developing advanced magnetic sensing technology for use in breast-cancer screening, and can significantly extend the availability of sentinel lymph node biopsy (SLNB), currently the standard of care in tracking the spread of breast cancer.
The ACES, run by The Science Business Innovation Board and now in their fourth year, are the only pan-European awards for enterprise from university and public research institutes. They are intended to foster a culture of enterprise among researchers.
Commenting on the award to Endomagnetics, Dr Steven Schooling, Director of Engineering and Physical Sciences at UCLB, said:
"UCL Business is rightly delighted that the entrepreneurial efforts of Quentin Pankhurst in developing Endomagnetics have been recognised at the ACES awards - and we look forward to continuing to work with the Endomagnetics team on this exciting opportunity."
Collecting the Life Sciences Award on behalf of Endomagnetics, Professor Pankhurst, CTO, added:
"We are naturally thrilled at our work being selected for this award. We are especially delighted at recognition of the huge potential for magnetic nanotechnology to improve procedures and outcomes for clinicians and patients alike."
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.
For more information please visit www.endomagnetics.com
UCLB is a leading technology transfer company that supports and commercialises research and innovations arising from UCL, one of the UK's top research-led universities. UCLB has a successful track record and a strong reputation for identifying and protecting promising new technologies and innovations from UCL academics. It invests directly in development projects to maximise the potential of the research and manages the commercialisation process of technologies from the laboratory to market. UCLB supports UCL's Grand Challenges of increasing UCL's positive impact on and contribution to Global Health, Sustainable Cities, Intercultural Interaction and Human Wellbeing.
For further information, please visit www.uclb.com