Imagion Biosystems secures nanoparticle manufacturer

Company News

by Jessica Amir

Imagion Biosystems (ASX:IBX), which provides nanomagetic detection for cancer and other diseases, has contracted a nanoparticle manufacturer to produce its first formulations for clinical breast cancer studies.

The company entered into an agreement with a Dutch firm, ChemConnection BV, to produce and supply formulations for the company’s HER2 cancer test.

As part of the agreement the manufacturing organisation will establish procedures for Imagion’s MagSense technology, with safety toxicology studies to commence in the first quarter of next year.

The technology uses bio-safe nanoparticles to locate, tag and characterise cancers and tumours in their early stages.

The collaboration will allow the company to conduct its first human test next year.

Shares in Imagion Biosystems (ASX:IBX) are trading flat at 13.5 cents.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.