MagneSensors’ corporate strategy is to focus on developing key magnetic assay technology and magnetic platform capabilities (e.g. to date these have included ultra-sensitive sandwich immunoassays, cell surface receptor assays, intracellular assays, and nucleic acid assays). The goal is to partner with industry leaders and to license our technology in specific fields of use such as clinical diagnostics, drug delivery, drug discovery, and research instrumentation.
In order to pursue this strategy, MagneSensors has remained small and focused on key application proof-of-concepts. We have funded development primarily with government grants and contracts along with some private corporate development contracts. We believe this will maximize our value as an attractive investment opportunity
MagneSensors' near-term plan includes retaining control over the fabrication of the superconducting magnetic sensor by producing in-house the sensor chips for assay instrumentation that is built by our partners. MagneSensors has a significant fabrication equipment and extensively developed fabrication processes.
Along with patent protection, there is a very sizable barrier to entry affored by the high temperature SQUID technology, which would be costly and time consuming for a potential competitor to duplicate. We have invested over $20M during the past two decades, the technical expertise is scarce, and the fabrication equipment is highly customized. We believe these barriers will enable MagneSensors to license our technology to larger companies.
We do not plan to sell, market, or manufacture instrumentation on our own as these are not core competencies and could be better executed by larger, more experienced companies.
Very importantly, we are producing high quality new magnetic nanoparticle reagents for our platform and since these will be tailored specifically for our applications, this should add a major recurring revenue source that is so important in clinical diagnostics markets. These magnetic nanoparticles may also have application in major new areas, which we are currently pursuing as well.