UK technology development specialist Amphion Innovations plans to capitalise on the burgeoning medical imaging market with a $1m (£570,000) investment in Supertron, bringing its stake in the US company to 30 per cent.
In what is a rapidly expanding market — clinical and pre-clinical global MRI imaging is estimated to be worth around $6bn annually — Amphion, a developer of life science businesses, claimed that Supertron presents an opportunity to secure a solid foothold in the imaging sector and reap the rewards of that growth.
Supertron, a spin-out from Columbia University, New York, and based in Newark, develops, manufacturers and markets electronic components and systems based on cryo-cooling and hightemperature superconductors technologies for use in MRI. The company’s products are claimed to enhance MRI image quality, reduce scan time in existing scanners and greatly lower the cost.
The company is also targeting emerging MRI research applications in molecular imaging, image-guided therapeutics, image-guided surgery and orthopaedic imaging. It is also developing a number of next-generation MRI products in neuro imaging and pre-clinical imaging.
Allied with Harvard University, Supertron has also secured a $2m advanced technology grant to accelerate the development of advanced MRI neuro-imaging.
Chief executive Richard Hullihen said: ‘Amphion’s strong experience in the imaging marketplace and its unique approach to growing life sciences businesses will help Supertron in its quest to become a successful participant in the strong growth marketplace.’
This is not Amphion’s first foray into the advanced medical field. In August it invested a further $1m in WellGen, taking its total stake to 19 per cent. WellGen is the first biotechnology company using nutrigenomics to discover and develop proprietary products that prevent and treat disease.