Life Magnetics, Inc. receives $140k in funding from Birmingham Angels
On April 10, 2020, Life Magnetics, Inc. received $140,000 in funding from Birmingham Angels, a new angel group located in Detroit, MI. We’re looking forward to working with this excellent group of investors and partners. The funding provided by Birmingham Angels is being deployed to get an emergency use authorization (EUA) to use the product in COVID-19 testing at Rapid Biosense, LLC, a CLIA laboratory located in Plymouth, Michigan. Life Magnetics, Inc.’s proprietary carbon bead technology isolates RNA with the highest purity in the industry. This extremely high purity means more consistent detection of RNA sequences downstream. RT-PCR detects specific RNA sequences associated with COVID-19 and maintaining extremely high RNA purity and integrity through the process supports robust COVID-19 testing.