Magnendo—a Massachusetts Institute of Technology (MIT; Boston, USA) spinout—has announced the closing of a US$18 million Series A financing led by Penumbra, with participation from a syndicate of new and existing institutional investors. The financing will support the ‘productisation’ of Magnendo’s robotic navigation technology for neuroendovascular intervention as well as preparation for first-in-human clinical studies.
“Magnendo has developed an elegant and pragmatic approach to one of the most challenging aspects of endovascular intervention,” commented Penumbra president Shruthi Narayan. “We believe the company’s focus on improving navigation while integrating into existing clinical workflows has the potential to meaningfully advance neurovascular care, and we are excited to support the team as they move toward clinical translation.”
As stated in a recent press release from Magnendo, rapidly reaching the treatment site remains one of the most technically demanding and time-sensitive aspects of mechanical thrombectomy procedures. Navigating from the vascular access site to the clot through complex and often highly tortuous patient anatomy continues to be a “major procedural bottleneck”, contributing to prolonged procedure times and poorer outcomes in a significant percentage of patients, the release also notes.
Magnendo is developing a robotic system that combines magnetically steerable guidewires with robotic control, advanced medical imaging and intelligent navigation software to improve endovascular access. The system is designed to help physicians navigate complex vascular anatomy more quickly, consistently and reliably while remaining compatible with existing clinical workflows and commercially available devices, Magnendo says.
The company has demonstrated “encouraging preclinical results” in collaboration with leading neurointerventional physicians, showing the potential to substantially reduce navigation times while improving procedural consistency across operators and anatomies.
“Our mission is to redefine endovascular access through magnetic robotic navigation, enabling physicians to reach the treatment site faster, more reliably, and with greater consistency,” said Yoonho Kim, founder and chief executive officer (CEO) of Magnendo. “This financing enables us to accelerate the productisation of our preclinically validated platform and prepare for first-in-human studies. We are grateful for Penumbra’s confidence in our team, and look forward to bringing this technology closer to physicians and patients.”
