Otomagnetics, LLC

Patented non-invasive ‘magnetic injection’ technology can deliver medication to targets in the body that are unreachable or currently require surgery to reach.

  • Stage Prototype Ready
  • Industry Biotechnology
  • Location Rockville, MD, US
  • Currency USD
  • Founded March 2012
  • Employees 6
  • Website otomagnetics.com

Company Summary

Company has developed a “magnetic syringe” to deliver medicine to targets that are unreachable or would require surgery to reach. System works in small animals. Product is a magnet device + drug-loaded nanoparticles it delivers (a "razor blade" business model). Anticipated exits are licensing or acquisition by pharmaceutical companies: we enable rescue of shelved drugs that are efficacious but cannot yet be used due to unacceptable side effects.

Team

  • Benjamin Shapiro
    President, Inventor, and Cofounder

    Dr. Shapiro is a Full Professor at the Fischell Department of Bioengineering at the University of Maryland. He is a recognized leader in the field of magnetic drug delivery, and is the inventor of the magnetic injection technology. He is currently responsible for the operations for Otomagnetics and has led company development. He has helped raise > $4.5M in non-dilutive funding for the university and Company effort thus far.

  • Ting Pau Oei
    Executive Chairman

    Mr. Oei has extensive operating and investing experience in the healthcare industry and over 20 years as a life sciences VC including a capital partner in both a corporate strategic VC firm and in an independent VC partnership. He was a Vice President of Johnson & Johnson’s VC arm. He has invested in over 50 life sciences, medical device and healthcare information technology companies and served on the board of over 25 of these companies.

Advisors

  • Phil Cooper
    Entrepreneur, Angel Investor, Board Member, Startup Adviser, Consultant

Starting a startup?

Join the world's largest startup network for guidance, tools, and fundraising opportunities.

Get Started for Free