Hi. What are your revenue goals for the next 5 years?

Hey Leonardo, thanks for the question. We're targeting $5M in revenue as the initial goal. Swift Biosciences, another sample prep company in our local area was acquired for a 9 figure amount at that level. There is a lot of interest in RNA technologies so only a bit of traction is needed for a nice exit. We still have a few more ideas on how to apply the technology so if things are going well we might try to diversify before an exit, but getting to $5M with the RNA isolation and RNA collectio...

Hey there. Fellow molecular biologist and founder who's raised on Wefunder here. Congrats on the work so far. Would this work for purifying in vitro transcription reactions like guide RNA and mRNA? Would they be ready to transfect? Thanks!

Hey Wesley, Nice to e-meet you. Yes, you would be able to. The carbon-technology is designed to bind RNA. Once RNA is bound, you can later elute the RNA and use it for downstream applications.

Congratulations on what you are doing and your success here so far. I invested and may do more. Three quick questions for now: 1. You mention patents and you do a nice job describing what makes your technology unique, but could you provide a crosswalk - what exactly do the pat...

To your first question, the patent we have issued covers the use of carbon beads to bind RNA. It's a method patent. We have enough data to file a composition of matter patent which we expect to be very strong. I've been ok with leaving this trade secret to date because our manufacturing method is so unique I don't see anyone reasonably being able to copy it. Charles Bisgaier, one of our board members, has been very vocal about filing this. So I imagine this will get done soon. However, honest...

Thanks Kevin, very helpful. A couple of follow-ups, including one because I worded my second question poorly: 1. I'm impressed and fascinated by the science, but I don't know much about it of course. What degree of advantage does that issued patent involving the beads give you...

Do you want to schedule a short call? Some of these questions are a bit more involved. khagedor@umich.edu or kevin@magnetics.life both work. I've been doing a lot of google meets. Kati at WeFunder suggested I turn some more difficult questions into video company updates.

What's the ultimate exit strategy and/or timeline to go public?

Hi Harvir, an acquisition is the most likely exit and I hope to be in a position for an exit within 1 year. There is a lot of interest in RNA technology. Swift Biosciences, another RNA tools company in our area that makes RNA next generation sequencing kits was purchased for $100M with $5M a year in revenue. That shows there's a strong interest in technology in this space. We've had discussions with companies interested in licensing the technology with ongoing sales that would put us in that ...

Life Magnetics

Next-Gen RNA Solutions: Leveraging Graphene for a Healthier World

Pitch Video

Investor Panel

magnetics.life

Ann Arbor, MI

B2B Biotech

Investor Panel

Shu interviewed Life Magnetics on April 7, 2021. Play Video

Shu Li

CEO and co-founder of Petri-Bio

Strengths

says, "Very useful technology which can really boost the whole mRNA medicine/vaccine industry, and already have POC started generating revenue."

Advice

says, "I'm super excited about Life Magnetics's technology, and the fundraising progress is proving that I'm not the only one. I'd love to see the company keep updating more information about the partnerships they are making, the market potentials, etc"

What Investors Say

First Round Investor

LEAD INVESTOR

Invested $5,000 this round + $204 previously

In 2020, I invested in Life Magnetics, driven by my conviction that RNA and mRNA are pivotal to the future of medicine and testing. I'm now pleased to not only represent the investors in this community round but also add to my initial investment. Kevin Hagedorn and his team are at the forefront of technology with the profound potential to transform lives. Their innovations enhance our ability to detect diseases and contaminants in both our food supply chain and the broader environment. Such precise and cost-efficient testing is paramount in safeguarding our food sources and mitigating risks for producers.

Life Magnetics' achievements thus far position them favorably for both profitability and significant growth. Beyond their current accomplishments in testing, what truly excites me is the potential evolution of RNA technology. This could usher in a new era of pharmaceuticals—drugs that remain stable at room temperature and offer controlled, gradual medication release. The implications for distributing future treatments and vaccines are vast, potentially reducing side effects and enhancing patient outcomes. While success in this domain isn't assured, the transformative potential of such technology cannot be overstated.

Ultimately, I believe Kevin and his team will make a difference.

Life Magnetics

Quick facts

Team profiles

Featured investor profiles

Never miss an update

Investor Panel

What Investors Say