An innovative medical device company
Imagion is currently in preclinical development, with the first human pilot studies of the technology targeted for 2020. The FDA granted MagSense a Breakthrough Device designation in
Imagion to commence Phase I clinic study in late FY20
Imagion intends to undertake a first-in-human study of the MagSense technology initially in HER2-positive breast cancer in Q4 FY20, to be followed later in prostate cancer and ovarian cancer.
With HER2-positive breast cancer, the goal will be to establish a non-invasive method of detection of cancer in the lymph nodes, compared with the conventional biopsy of the sentinel lymph nodes.
Imagion intends to sell MagSense on a 'printer and ink' model, where a low sales price for the SQUID equipment (
We estimate Imagion can potentially look to make its commercial launch in 2022 or 2023.
Imagion signs deal with
In
The deal will also pave the path for Imagion to further explore MRI as a commercialisation strategy.
Funding raised through multiple avenues
In
Furthermore, Imagion generated funds through sale of nanoparticles formulation to other medical equipment manufacturers (
This was further supported by an improvement in cash flow generation on account of prudent fiscal management in 2019.
Imagion is undervalued based on our numbers
We value Imagion at
We see Imagion being re-rated closer to our valuation range on the back of improved sentiment towards MagSense as a Breakthrough Device, as the company takes the device to clinic.
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