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 Updates, Team, and Funding Progress | Wefunder, Home of the Community Round

RNA is the future of medicine. The mRNA COVID-19 vaccines are just the beginning

Partnership leading to profitability in 2024 performing livestock surveillance testing

Licensing offers from pharmaceutical companies to use the product for mRNA therapeutic delivery

$1.6 Million raised to date - $300K soft circled for this second round (reg D)

$400k from the National Science Foundation Small Business and Innovation Research program

Collaboration with tier 1 industry partners like Novo Nordisk and Central Star (see video)

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