Magnisense appoints business developer for US diagnostics market

Paris, France, May 9, 2007—Magnisense, a developer of next generation bioassays for human and animal diagnostics, food safety and environmental protection, today announced the appointment of Clayton Cooper Péquignot, to lead business development in North America.

Péquignot, currently a partner in the American consulting firm Venstrata Consulting, will help the company find partners for licensing products using Magnisense’s MIAtek(TM) technology. Magnisense’s innovative immunoassays are based on superparamagnetic bead markers, which deliver the accuracy of laboratory testing with the ease of use of rapid test methods currently on the market. Two applications areas have already been developed up to proof-of-feasibility: MIAstrip(TM), single dose tests and MIAflo(TM), disposable cartridges.

“Clayton’s excellent track record in business development and marketing in life sciences means he will be able to make a vital contribution to Magnisense’s success in North America,” said Luc Lenglet, President of Magnisense. “With Clayton’s help, we expect to maximize the potential of our MIAtek(TM) technology through new license agreements with major players in the diagnostic sector.”

Péquignot, 37, previously worked as a business development manager for global genomic biotechnology company, ProOligio (formerly Genset) before becoming a senior strategy consultant for Cap Gemini Ernst and Young, New York. He has served as a strategic consultant and project manager for Fortune 100 clients such as AstraZeneca, Aventis and Chiron and has produced detailed market analyses for several leading pharmaceutical and biotech clients. As a partner with Venstrata Consulting, he has been successful at delivering strategic business development solutions for multiple technology driven clients. Péquignot received his Masters of Science in Biotechnology Engineering from the University of Pennsylvania.

“Magnisense’s new magnetism-based approach in the field of immunoassays looks like the logical next step for the diagnostics industry,” said Péquignot.  “The market has already begun to appreciate the potential of our technology. I am delighted to be a part of the team that will help develop their business in America.”

About Magnisense
Magnisense develops a new generation of bioassays for human and animal diagnostics, food safety and environmental protection. These innovative immunoassays are based on superparamagnetic bead markers, which deliver the accuracy of laboratory testing with the ease of use of rapid test methods.

Exploiting a unique feature of superparamagnetic bead markers, Magnisense’s MIAtekTM technology provides true quantification of a large volume sample. The magnetic signal is free of interference from environmental factors, permitting a more sensitive and reproducible detection than possible with other surface-restricted approaches.

Magnisense is developing two test formats for different application areas:
MIAstrip™: Point of care testing with a single dose, producing objective, quantifiable and traceable results via a portable reader and offering markers for a number of diseases including avian flu, cardiac disease, tetanus, and bacterial, viral, parasitic or mycotic infections.
MIAflo™: Disposable cartridges for detection of bacterial contamination in food products, e.g. Listeria and Salmonella, or in water, e.g. Legionella, with a sensitivity that brings a significant reduction in testing time.

Founded in 2003, Magnisense has raised two rounds of financing for a total of EUR 6 million from Baring Vostok Capital Partners and private investors.



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