Ferronova’s magnet cancer detection device draws investors

Ferronova has spun-out of research done at University of South Australia and will partner with New Zealand-based nanoparticle specialist Boutiq Science and major IP investor, Powerhouse Ventures to develop an ultrasensitive magnetometer probe, designed to be about the size of a ball-point pen.

Boutiq Science, which makes the tracers used in different applications across industries, is an exclusive partner with Ferronova on the medical use of its tracers.

While traditional radioactive tracers help detect the spread of both breast cancer and melanoma in lymph nodes, they have proved less effective in other cancers such as head and neck, gastrointestinal and oesophageal cancers, where nodes are closely packed or clustered.

The device, designed to replace invasive procedures, is a result of the doctoral work of UniSA researcher Dr Aidan Cousins, who will join Ferronova along with Associate Professor Benjamin Thierry.

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