Genio Technologies, Inc. has acquired exclusive rights to the MasSpec Pen System, a revolutionary technology from the University of Texas at Austin that is proven to accurately identify the difference between cancerous and normal tissue during surgery.
The MasSpec Pen System, developed in the lab of Livia Schiavinato Eberlin, Ph.D., is composed of a handheld and biocompatible pen-like device connected to a mass spectrometer that rapidly identifies the molecular profile of tissues during surgery. The technology will fill a current need in medicine by diagnosing cancer more quickly and more accurately than current methods and procedures. The MasSpec Pen will enable surgeons to operate more accurately and confidently, ultimately saving valuable time and money while improving patient outcomes.
In November 2019, i2E Management Company, Inc. led a $1.25 million seed-round investment in Tulsa-based MS Pen Technologies, Inc. to advance and commercialize the MasSpec Pen System. The investment round included funds from the Oklahoma Seed Capital Fund and private investors.
“We will use the proceeds from the seed round to finalize our regulatory and compliance strategy, improve manufacturing readiness and continue ongoing surgical pilot studies,” CEO Shannon Green said upon closing the round.
About i2E and iMCI
i2E Management Company, Inc. (iMCI) is a private, for profit investment and fund management company operating as a wholly owned subsidiary of i2E, Inc. iMCI currently manages $88 million across five venture funds. iMCI makes investment decisions and provides investment management as General Partner and/or Managing Member of a growing number of privately managed venture capital funds. Since 2007, iMCI and i2E, Inc. have invested more than $58 million into 56 companies representing seed-stage to early-stage venture capital investments across many different industries including the life sciences and software/IT.