Izaac Ronay from The Stock Network sat down with Imagion Biosystems’ Ward Detwiler to discuss the new written series, “10 Things to Know About MagSense®”, which sets out the business case for its non-radioactive molecular MRI imaging agent.

Video Transcript:

Imagion Biosystems has launched 10 things to know about MagSense®, a new series setting out the business case for its non-raactive molecular MRI imaging agent. Part one explains how MRI manufacturers, contrast media companies, and radiopharmaceutical developers each stand to benefit alongside the company’s FDA cleared US clinical trial in HR2 positive positive breast cancer. President Ward Detwiler joins the stock network to discuss what MagSense® offers MRI manufacturers and contrast media companies and the commercial milestones ahead. MRI gives doctors detailed pictures, but it can’t always tell whether an abnormality is cancer. How does MagSense® change that and why does Imagion expect MRI manufacturers to embrace it?

So, in my view, I think the easiest way to think about how MagSense® improves MRI is to think about it sort of like the the check engine light in your car. That that’s MRI today. It can tell you when something is wrong, but it can’t tell you exactly what the problem is. So, when that light goes off, you still need to bring your car to the shop, get other diagnostics done, spend more time and money before you know what, if anything, is actually wrong and what to do about it. MagSense® is like if your car gave you that answer right on the dash. Um because MagSense® is molecularly targeted to a specific type of cancer which in this case her two positive breast cancer. If you see the unique image pattern of MagSense® you know the only reason that it’s there is because her two cancer cells are present and that is very important because it could potentially reduce the need for biopsies which could add cost and time could lead to unwanted side effects for patients. uh it could lead to better uh more targeted treatment and potentially provide longerterm follow-up information about how the cancer is responding and all of that really raises the value in the utilization of MRI and oncology.

Now, why is that important to MR MR manufacturers? Uh MRI is getting pressure from two sides. At the low end, we’ve got CT and ultrasound with cheaper and faster, albeit not as detailed imaging uh which are gaining adoption as health care systems see increased economic pressure. Uh on the higher end you’ve got PET which while being multiples more expensive and hampered by complex workflows and safety concerns provides that molecular specificity. MagSense® offers MRI manufacturers access to a tool that is highly sensitive and specific but without the cost workflow constraints and radiation exposure of PET. So I think it will help expand MRI utilization in oncology and ultimately uh market share for manufacturers and I think our ongoing collaboration with Siemens is evidence of that interest already and we hope to expand our industry uh collaborations further as we progress with the phase 2 trial and are able to share more clinical data.

And so what are contrast media companies and why are they important in this story?

So in the field of MRI, contrast media companies primarily refers to the manufacturers of gadolinium which is a substance that is injected prior to an MR scan in order to improve the visualization of blood flow and other areas of kind of increased vascular activity. Uh in layman’s terms, it’s sort of like a highlighter for MRI except that instead of highlighting just a few key phrases, it highlights the entire page. You can’t tell exactly what is important uh and what’s just noise. So a bright spot could be due to an active tumor. Uh but it could be a number of other things. U so while it can be sensitive, it is not specific. And because of the physics of gadolinium, you can’t just attach a targeting compound to it like you can with MagSense®. Gadolinium has also been in use since the late 80s. And like a lot of things that were once novel, uh there’s now a tremendous amount of competition uh resulting in lower margins and diminishing returns on R&D. Um on top of that there are some unresolved safety concerns related to long-term deposition and addressing that is actually where a lot of R&D is currently directed. You know that said these companies have established sales channels and are universally integrated into radiology workflows. So for the gadolinium kind of you know traditional contrast media companies um I think MagSense® offers a real opportunity for them. uh it offers them a higher value product with a you know molecular specificity uh d-risked R&D and a better safety profile all of which can be sold through their existing sales operations um so MagSense® it doesn’t replace gadolinium it rather it expands the contrast media company’s portfolios with a highly complimentary product

the next part of the series looks at market size chains and health economics what will that show investors about the commercial opportunity and what milestones are next for MagSense®.

Yeah. So, I think we we’ve already talked about why some of the large strategic partners are going to be interested in MagSense® um and why this will be appealing to them, but I think there’s also some real market fundamentals that uh ultimately will make MagSense® successful in the clinical market. Um you know, you hear a lot of times from tech companies saying how they’re going to uh disrupt an entire industry and that can sound very flashy and exciting, but healthcare is not built on disruption. It is built on precision, reliability, repeatability, and ultimately economics. And and that applies both in clinical workflow and in supply chain. To be reliably commercially successful, you want to fit existing supply chains, fit existing workflows, demonstrate strong economics, solve real problems in big markets, and have the opportunity to scale. And MagSense® hits on all of those points. Um, you know, first we fit existing clinical practice. Radiologists are trained to administer and read contrast enhanced exams. Um be beyond that we don’t resp require any special handling or you know complex supply chains like uh like pet might. Uh it fits existing clinical and operational workflows. Um we’ve performed early health economic studies that justify a premium price and we run on existing MR systems so we avoid new capital expenditures. Finally, we have a platform that can be extended across a number of clinical applications, addressing long-standing diagnostic problems facing millions of patients and their physicians across the globe. Um, I really look forward to expanding on that as we dive into the, you know, next chapters of this series. But, you know, from where I sit, I think the economics and the value proposition of MagSense®, you know, really make sense and kind of fit fit the uh the healthcare market and how these companies, you know, grow and are successful. Um, getting there is still going to require some work obviously and all of that starts with our phase two trial in her two breast cancer which I think will be a big inflection point and a signal to those strategic partners as that data starts to come in. Um, so getting our first sites active and opening the study for enrollment are really the next major milestones for us and uh that’s something that our team has really been laser focused on since we received our IND clearance and we look forward to sharing that news with the market in the very near future.

Ward, thank you for joining the Stock Network.

Thanks. Thanks for having me.