Researchers collaborate on ground-breaking cancer probe
Powerhouse, Boutiq Science and University of South Australia agree terms sheet to develop cancer detecting magnetic probe
Christchurch, 10 June 2016 – Researchers from both sides of the Tasman and an experienced IP investor have come together to develop a ground-breaking cancer staging probe for international markets.
IP investor Powerhouse Ventures will use its capital and know-how to help Wellington based nanoparticle specialist Boutiq Science and researchers from the University of South Australia (UniSA), developers of the magnetometer probe, to launch a new system to improve cancer patient outcomes.
UniSA’s magnetometer (magnetic probe) allows surgeons to detect the spread of cancer throughout the body using magnetic tracers, providing more accurate information and offering patients a better standard of care. Boutiq Science’s iron core nanoparticle tracers vastly improve the magnetic signal, which leads to more accurate diagnosis, staging and treatment of cancer patients.
Colin Dawson, Chief Operating Officer, Powerhouse says that the collaboration and the technology is very exciting.
“Bringing nanotechnology and the magnetometer together has the potential to create a powerful system that will solve a real problem in healthcare, and has an estimated market of between USD300m –USD450m.
“Powerhouse has agreed terms with Boutiq and UniSA, and will shortly be investing directly in the new company; Ferronova Pty which will develop an enhanced cancer detecting magnetic probe system,” says Dawson.
Tijs Robinson, Investment Manager, Powerhouse added: “We are looking forward to working with the Wellington and Adelaide technical team to make Ferronova a success and importantly, get the system in the hands of clinicians for trial with patients in 2017.”
Powerhouse Ventures specialises in developing and shaping research from trans-Tasman universities into world changing businesses. It has developed a unique approach, providing access to business building expertise, capital, networks, recruitment and ongoing business support. Its portfolio currently comprises 22 early stage to mature businesses founded on university and research institute Intellectual Property. The company is preparing for an IPO on the ASX later this year.