5 Q&A With Magnasense (former Aegirbio) COO Vasiliki Fragkou

Vasi, you joined Magnasense in 2020. Tell us a bit about your background and what brought you to the company.

I joined Magnasense in 2020, when Magnasense AB acquired Thyrolytics and Viraspec. At the time, I was working as a consultant for both companies. Since most of their R&D activities were based in the UK, Magnasense management asked me to establish a subsidiary there, where I am also based.

With extensive experience as an R&D director, particularly in innovation, science, design, and development of in vitro diagnostic medical devices, along with proficiency in supply chain and manufacturing, I saw this as a valuable opportunity to advance my career. I thrive on challenges, and setting up AegirBio UK Ltd from scratch during the pandemic was particularly demanding. I am proud to say that three years later, I have successfully established a strong team and a thriving subsidiary.

 

You are now Chief Operating Officer. What is your main focus at Magnasense?

As a small startup, Magnasense requires a solid foundation for sustainable growth, and as the COO, my primary goal is to establish this groundwork. Reflecting on the past three years, it’s evident that Magnasense's journey has been challenging. Despite the mistakes made, we have learned valuable lessons that have shaped our approach moving forward. Additionally, the new management team has had a significant impact on the changes implemented over the last year, driving strategic initiatives that have strengthened our operations and focus.

By implementing robust processes and infrastructure aligned with Magnasense’s mission and vision, we are dedicated to building a resilient and innovative company. Our aim is to deliver exceptional value to both internal and external stakeholders. This includes fostering a collaborative and agile work environment, ensuring operational excellence, and staying committed to our core values. Through these efforts, we strive to position Magnasense as a leader in our industry, capable of making significant contributions to healthcare and diagnostics.

 

There is a big link between oral health and systemic diseases. How does Magnasense’s platform help address this?

Oral health is increasingly recognized as a critical component of overall well-being, with emerging evidence highlighting its profound impact on systemic health. Despite this growing understanding, the translation of research findings into practical, accessible solutions has been limited. Much of the valuable research conducted in academic settings has yet to be seamlessly integrated into routine clinical practice.

Our forthcoming platform represents a significant step towards addressing this gap. By leveraging advancements in technology, we are developing a versatile tool that not only facilitates clinical screening but also extends its benefits to individuals in their homes. Through user-friendly interfaces and intuitive design, our platform will empower people to take proactive control of their oral health.

In essence, our platform embodies the convergence of cutting-edge research, technological innovation, and a commitment to preventive healthcare. We envision a future where everyone can safeguard their well-being through accessible and effective oral health management.

 

Magnasense is working with the National Institute of Health for its RADx project. Why is RADx important for the company?

Being chosen for the RADx project to develop a digital self-test platform for people with disabilities marked a pivotal opportunity for collaboration with the renowned National Institutes of Health. Our partnership enabled us to leverage their expertise and resources, accelerating the development of our core platform. The insights gleaned from the RADx team were invaluable, guiding us towards the successful realization of our objectives within a tight timeframe.

Engaging in this project prompted us to push our boundaries, challenging ourselves to innovate and adapt. The knowledge acquired along the way served as a cornerstone for our growth and development. Ultimately, our efforts culminated in the creation of a product poised to make a meaningful and positive impact on public health.

 

What is your focus for the rest of 2024 in regard to Magnasense’s development plans?

Our focus for the remainder of 2024 is twofold: completing work package 1 of the RADx project and transitioning to work package 2. Additionally, we are poised to finalize our professional-use reader and commence development on our inaugural oral health test.

"We strive to position Magnasense as a leader in our industry, capable of making significant contributions to healthcare and diagnostics."

Vasiliki Fragkou, COO of Magnasense AB