Endomagnetics Ltd (commonly Endomag) is a British medical device manufacturer, headquartered in Cambridge. The company was founded in 2007 and produces surgical guidance products which assist surgeons in locating and removing cancerous tumors, predominantly for breast cancer surgery.[1] The company's products are distributed by Leica Biosystems in North America and Sysmex Corporation across Europe. Since 2024, Endomag is a subsidiary of Hologic.
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Medical device manufacturer, surgical guidance for cancer care |
| Founded | 2007 |
| Headquarters | |
Area served | Worldwide |
Key people | Dr Eric Mayes (CEO) Dr Quentin Harmer (CTO) Dr Andrew Shawcross (COO) Mathew Stephens (CMO) |
| Parent | Hologic |
| Website | endomag |
The company's location at Cambridge Science Park in Cambridge is central to Silicon Fen, the cluster of high-tech businesses in the area which form one of the most important technology centres in Europe.[2][3]
History
editEndomag was founded in 2007 as Endomagnetics Ltd as a University spin-off from University College London and the University of Houston. Helped by initial seed money from UCL Business, Endomag has continued to develop its magnetic sensing technologies to improve minimally invasive procedures for oncologists.[citation needed]
In June 2014, the company acquired the magnetic hyperthermia assets of the US-based Actium Biosystems.[4] In 2015, the company moved offices from Cambridge Science Park to its current headquarters at The Jeffrey's Building on the St John's Innovation Park. The office was opened by Lord Sainsbury.[5]
In July 2018, the company announced a further round of venture capital funding, a Series C for $10m (£8m) led by Draper Esprit, the European arm of Silicon Valley investor, Tim Draper's venture capital business.[6][7]
In April 2024, American medical device manufacturer Hologic agreed to acquire Endomag for $310 million.[8] The acquisition completed in July that year.[9]
Technologies
editEndomag's Sentimag probe is a sensitive magnetometer which detects either an implantable magnetic marker, Magseed, or an injectable superparamagnetic iron oxide nanoparticle tracer, branded Magtrace.[citation needed]
The Magseed marker is placed in a tumor under imaging guidance prior to surgery, and located and removed during surgery. The company's magnetic probe can indicate the distance from the Magseed marker, which helps guide the surgical excision of the cancerous tumor.[10] The Magtrace liquid marker is injected near the tumor prior to surgery and migrates to the lymph nodes draining the primary tumour, the so-called ‘sentinel’ nodes. These can then be detected and excised during a sentinel lymph node biopsy procedure. The company's products are a radiation-free alternative for breast cancer surgeons.[11]
Endomag's Magseed marker product has received FDA 510(k) clearance for localizing tumors in soft tissue in 2016[12] and its Magtrace and Sentimag Magnetic Localization System received FDA premarket approval (PMA) in 2018 to identify and remove sentinel lymph nodes in women undergoing mastectomy for breast cancer.[13]
Awards
editThe company has won a number of business, engineering and science awards since its inception. In 2015, the company was shortlisted for the MacRobert Award, a leading UK engineering award.[14] The following year saw Endomag awarded with an Institute of Physics Commended Innovation award.[15]
In 2018, Endomag received a Queen's Awards for Enterprise in the Innovation category.[16][17] In July 2018, the company was presented this award by Julie Spence OBE, the current Lord Lieutenant of Cambridgeshire. In October 2018 the company received a Business Innovation Award from the Institute of Physics for its use of magnetism for minimally invasive surgical guidance.[18]
References
edit- ^ "Endomag". UCLB. Retrieved 27 July 2018.
- ^ Davies, Lizzie. "Hi-tech cluster keeps business booming in Cambridge". The Guardian. Retrieved 21 January 2015.
- ^ Connell, David; Probert, Jocelyn (January 2010). "Exploding the Myths of UK Innovation Policy" (PDF). Centre for Business Research, University of Cambridge. Retrieved 6 August 2018.
- ^ "Endomag: advancing cancer diagnosis". The Manufacturer. Retrieved 27 July 2018.
- ^ "Lord Sainsbury opens Endomag's Cambridge headquarters". Cambridge Network. Retrieved 27 July 2018.
- ^ Meddings, Sabah (22 July 2018). "Endomag offers new hope for breast cancer surgery patients". The Sunday Times. Retrieved 27 July 2018.
- ^ Sweeney, Kate (27 July 2018). "Endomag takes breast cancer war chest to $22m and excites US market - Technology News - Business news - Cambridge and the East of England". Business Weekly. Retrieved 27 July 2018.
- ^ Kanner-Mascolo, Mica (30 April 2024). "Hologic to acquire UK-based breast cancer tech manufacturer for $310M". Worcester Business Journal.
- ^ Kirsh, Danielle (25 July 2024). "Hologic completes Endomagnetics acquisition". Mass Device.
- ^ Henriques, Carolina (15 September 2017). "Breast Cancer Surgery Marker Magseed Receives CE Mark Approval". Breast Cancer News. Retrieved 27 July 2018.
- ^ "Success story: magnetics offer a safer future in cancer care". GOV.UK. 13 July 2015. Retrieved 27 July 2018.
- ^ "Endomag Magseed Wins FDA Clearance to Localize Tumors in Any Soft Tissue -". Medgadget. 28 February 2018. Retrieved 27 July 2018.
- ^ "FDA Approves Magnetic System for Lymph Node Biopsy During Mastectomy". Oncology Nursing News. 26 July 2018. Retrieved 27 July 2018.
- ^ Curtis, Sohpie (21 May 2015). "Three British companies compete for prestigious engineering prize". The Telegraph. Retrieved 27 July 2018.
- ^ Chapman, Jenny (20 October 2016). "Endomag receives high praise". Cambridge News. Retrieved 27 July 2018.
- ^ Scialom, Mike (26 April 2018). "Cambridge region yields nine Queen's Awards for Enterprise 2018". Cambridge Independent. Retrieved 27 July 2018.
- ^ Gooding, Matt (20 April 2018). "Amazing Cambridgeshire firms celebrate Queen's Award success". Cambridge News. Retrieved 27 July 2018.
- ^ Physics, Institute of. "Endomag - 2018 winners". Institute of Physics - For physics • For physicists • For all. Retrieved 17 October 2018.