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 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.