Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


MARS Bioimaging to Position Itself for Series A Fundraising

February 25, 2014

MARS Bioimaging Raises over $500,000 to Position Itself for Series A Fundraising

Christchurch, February 25, 2014 — MARS Bioimaging raises more than NZ$500,000 in a capital financing led by Powerhouse Ventures (powerHouse).

MARS Bioimaging (MBI) intends to utilise the investment to strengthen the management and development teams prior to Series A fundraising later in 2014.

Originally spun out from the University of Canterbury in 2007, MBI is now releasing its first commercial grade xray scanners after successfully validating the groundbreaking technology with high profile medical research institutes.

The Director of Research & Innovation at the University of Canterbury, Dr Nigel Johnson, said “It is exciting to see worldleading physics and biomedical research culminating in a sophisticated medical instrument. This additional capital will help MBI’s machines contribute to health improvements globally while delivering economic benefits to New Zealand.”

MBI provides in vivo colour xray imaging, using spectral computed tomography (CT) technology developed by the CERNbased Medipix3 Collaboration and University of Canterbury researchers. University of Otago, Christchurch is a key partner.

Spectral CT can provide images of bone, soft tissue, calcifications and injected contrast agents. This decomposition ability has many advantages for detection, diagnosis and treatment of major diseases such as cancer and heart diseases.

MBI CEO, Professor Phil Butler, notes “MBI’s objective is to become the preclinical imaging company of choice for research organisations and drug development companies, and a key component supplier to the clinical human imaging market.”

The preclinical imaging market is estimated at US$1.7 billion and the human imaging market at US$28 billion.

MARS Bioimaging won the Canterbury Regional Deloitte Fast 50 Rising Star award in 2013.

powerHouse’s Managing Partner Stephen Hampson, said “We are delighted to announce the successful capital raise that will allow MBI to accelerate its entry into this exciting high growth sector.”

powerHouse develops intellectual property based businesses from innovations sourced mainly from its university partners and research institutes. powerHouse offers more than traditional seed and startup capital, with ongoing access to business incubation, HR recruitment and networks.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news