Magnetic Insight is a technology company.
Magnetic Insight has raised $33.0M across 3 funding rounds.
Magnetic Insight has raised $33.0M in total across 3 funding rounds.
Magnetic Insight is a preclinical and translational imaging company developing Magnetic Particle Imaging (MPI) systems, a radiation-free technology that uses iron oxide nanoparticles to produce high-contrast, quantitative images of specific biological targets like cells and blood flow. It primarily serves researchers in cancer, immunology, and drug development, solving key limitations of nuclear medicine scans—such as radiation exposure, short tracer half-lives, and background noise—potentially replacing over 50% of them with safer, logistically simpler alternatives.[1][2][3][6][7] The company offers products like the MOMENTUM imager for murine models, VivoTrax tracers, HYPER for localized hyperthermia (e.g., cancer treatment and drug release), RELAX for particle relaxometry, and multimodal imaging software, with growing adoption in labs across the US, China, and Canada.[3][6]
Founded from UC Berkeley research, Magnetic Insight has raised significant funding (e.g., $18M from 5AM Ventures) and is transitioning from preclinical tools to clinical applications, accelerating research translation into human diagnostics and therapies.[2][3][4]
Magnetic Insight emerged from over a decade of research in UC Berkeley Professor Steven Conolly's lab in Bioengineering, Electrical Engineering, and Computer Science, where Magnetic Particle Imaging (MPI) was pioneered for its zero-background, radiation-free imaging in animal studies.[2][4] Co-founded by Conolly, Patrick Goodwill (PhD from Conolly's lab), and Heidi Christensen (early business advocate who became CEO), the company was officially launched around 2012-2016 (sources vary slightly on exact year: 2012 per Berkeley, 2014 per CB Insights, 2016 per Alameda Magazine) in Alameda, California.[2][4][5]
The idea crystallized when Goodwill miniaturized a bulky prototype into a shippable scanner (from version 8), impressing Christensen, who left her job to co-found the venture with Goodwill as CTO and Conolly as scientific advisor. Early traction included building six research scanners deployed globally and partnerships like Stanford University, bolstered by NIH recognition and venture funding to commercialize the tech.[1][3][4]
Magnetic Insight rides the radiation-free imaging trend in medtech, addressing a $5B+ global nuclear medicine market burdened by radioactive tracers' supply constraints, patient risks, and imaging limitations.[1][6] Timing is ideal amid rising demand for precise, safe tools in oncology, immunotherapy, and personalized medicine, fueled by nanoparticle advances and regulatory pushes for non-ionizing modalities.[1][3] Market forces like aging populations, cancer prevalence, and post-pandemic supply chain scrutiny favor MPI's logistical simplicity and superior contrast.[4][6]
The company influences the ecosystem by partnering with top institutions (e.g., Stanford, international labs), accelerating preclinical-to-clinical translation, and enabling innovations like targeted hyperthermia—potentially reshaping 50%+ of nuclear scans and inspiring hybrid imaging platforms.[1][3][4]
Magnetic Insight is poised to expand MPI into clinical scanners and therapeutics, building on preclinical momentum and funding to target human cancer imaging/treatment trials. Trends like AI-enhanced imaging, nanoparticle therapeutics, and regulatory fast-tracks for safe modalities will propel growth, potentially capturing nuclear medicine share as logistics and safety barriers fall. Its influence may evolve from research enabler to medtech disruptor, delivering the high-contrast visibility doctors need—transforming opaque bodies into actionable insights, much like its founding vision to outshine radiation-based rivals.[1][3][6]
Magnetic Insight has raised $33.0M in total across 3 funding rounds.
Magnetic Insight's investors include Celesta, MYASIAVC PTE LTD, Pareto Holdings, Soffinova Partners, Sofinnova Investments, Westlake Village BioPartners, Sand Hill Angels.
Magnetic Insight has raised $33.0M across 3 funding rounds. Most recently, it raised $17.0M Series B in June 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2022 | $17.0M Series B | Celesta, MYASIAVC PTE LTD, Pareto Holdings, Soffinova Partners, Sofinnova Investments, Westlake Village BioPartners | |
| Dec 1, 2018 | $13.0M Series A | Soffinova Partners, Sofinnova Investments, Westlake Village BioPartners | |
| Jul 1, 2016 | $3.0M Seed | Sand Hill Angels |