LONDON The patents and other intellectual property of NanoMagnetics Ltd., a research company that manufactured nanometer-scale magnetic particles within hollow protein spheres, are up for sale by Smith & Williamson Ltd., the financial services company appointed as administrator.
NanoMagnetics (Bristol, England) was founded by Eric Mayes in 1997 to commercialize materials for the data storage market with the aim of developing magnetic media to support storage densities beyond existing technologies. Mayes served as chief executive officer. Capital of £9 million (about $15.7 million) was raised from venture capital investors including Amadeus, BankAtlantic, CRIL, Formula Ventures, Interregnum, Prelude and UBS Capital.
The company’s clean room equipment has been sold off by way of auction conducted by Henry Butcher. Smith & Williamson are inviting offers for NanoMagnetics' intellectual property, 11 granted patents and 20 patent filings pending as a whole or by application area.
The patents are in seven families: magnetisable device, nanoparticle film/ink jet, enhanced nanoparticles used for filtration, magnetoferritin, ferrofluid, microwave absorber and semiconducting nanoparticles. Smith & Williamson have also divided the sale into five application areas: data storage, medical imaging and diagnostics, water purification and remediation, microwave absorbing materials and semiconducting nanoparticles.
NanoMagnetics received funding of £1.1 million (about $2.0 million), in March 2004.
"The materials developed by NanoMagnetics offer the storage industry a way of overcoming present thin film and magnetic powder limitations leading the way to higher capacity hard disc and flexible media products for consumer products ranging from PCs and mobile phones to digital still cameras and camcorders," said Alan Duncan, then a director of Prelude and chairman of NanoMagnetics, in a statement at the time.