The company picked up the Life Sciences Award, given by the distinguished panel of judges to the most successful university spin-out company. Endomagnetics is developing advanced magnetic sensing technology for use in breast cancer staging, based on technology developed between University College London and at the University of Houston.
Endomagnetics’ success came in the face of stiff competition from companies in several sectors and countries in Europe. The ACES judges took into account the novelty of the research, clear evidence of commercial success and the potential impact on society. Endomagnetics’ magnetic technology can significantly extend the availability of sentinel lymph node biopsy (SLNB), currently the standard of care in tracking the spread of breast cancer.
The awards were announced at The European Entrepreneurship Summit in Brussels yesterday. The ACES, run by The Science Business Innovation Board and now in their fourth year, are the only pan-European awards for enterprise from university and public research institutes. They are intended to foster a culture of enterprise among researchers.
Collecting the Life Sciences Award on behalf of Endomagnetics, Professor Pankhurst, CTO, said: “We are naturally thrilled at our work being selected for this award. We are especially delighted at recognition of the huge potential for magnetic nanotechnology to improve procedures and outcomes for clinicians and patients alike.”