InsightsNews - Commercial Law, Corporate, Banking and Finance - POSTED: December 18 2020
Brachers advises in joint venture deal to bring wearable brain scanner to market
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Brachers has advised Kent-based Magnetic Shields Limited (MSL) on all aspects of its joint venture partnership with the University of Nottingham. That joint venture will be bringing a ground-breaking wearable brain scanner to market through a new spin-out company, Cerca Magnetics Limited.
As well as allowing people to move freely while being scanned, the new scanner also offers considerably higher sensitivity than current systems, providing an unprecedented window on brain function and giving new hope to people suffering with severe neurological illnesses like epilepsy, autism and Parkinson’s.
Scientists at the University of Nottingham’s Sir Peter Mansfield Imaging Centre have been developing the technology for the past five years. It needs to sit in a well-controlled magnetic field environment, as magnetic fields from the brain are so small.
MSL is a leading specialist in magnetic shielding and has developed magnetically-shielded enclosures into which the scanner can be installed. Under the new partnership, Cerca Magnetics will sell the complete integrated brain imaging system.
David Woolger, CEO of Cerca, said: “Cerca are already working with some of the world’s best research laboratories to deliver our first generation of the system for deployment in the field. We hope and believe that within three to five years, we can see the technology becoming commonplace in hospitals.
“We would like to thank the team at Brachers for their support, hard work and professionalism, which has helped to make this partnership possible.”
Alex said: “We are delighted to have worked with MSL on the creation of this exciting partnership. We would like to wish Cerca Magnetics the best of luck with bringing this scanner to market and we look forward to seeing the technology in hospitals in the near future.”
Find out more about the technology from the University of Nottingham.
Brachers’ Corporate & Commercial Team has found that the current climate has not deterred deals this year, with the firm acting in a number of transactions, including the buyout of London-based Clear Treasury Group Limited, the acquisition of SalesWorks UK by US-based Blarney Ventures LLC, and Planet First Partners’ investment in Polymateria Limited.
The team’s expertise has also recently been recognised in the latest edition of Chambers and Partners, one of the world’s most prominent legal directories.
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