Magnetic sensing technology from a Cambridge company has been chosen to represent the excellence of UK business in a life sciences sector summit on August 2.

Endomagnetics will be demonstrating its products at the British Business Embassy at Lancaster House, where businesses from all over the world will come together to see British innovation and to discuss opportunities for collaboration and supply.

In Endomagnetics’ case, clinicians and hospital administrators will be eager to see how magnetic sensing technology can make a major difference in extending the availability of key cancer staging techniques.

Endomagnetics was founded to solve cancer staging and healthcare challenges through the application of advanced magnetic sensing technology and nanotechnology.

Endomagnetics is developing a portfolio of medical device products based on a patented ability to detect magnetic materials in the human body with exceptional sensitivity. The technology was originally developed at University College London and the University of Houston.

The company’s first product, the SentiMag®, is an ultrasensitive hand-held probe for tracking injected Sienna+™ nanoscale magnetic materials in the human body. Endomagnetics is in the process of delivering its technology to global markets.

Endomagnetics CEO Dr Eric Mayes said: “We are honoured to have been selected to represent British excellence in these important showcase opportunities. Our technology has clear global potential and we look forward to forging new relationships.”

During the six weeks of the London Olympics, the British Business Embassy will host 18 days of global business summits and a Global Investment Conference, which will be one of the largest Britain has ever seen.

The programme is being run by UK Trade & Investment and is expected over time to generate £1 billion of additional revenue for the economy.

Prime Minister David Cameron has said: “This summer's Olympics will put the eyes of the world on Britain as we host not just an unparalleled sporting spectacle, but also a chance for companies from across the globe to interact and do business here in the UK. A wide range of British companies will be involved alongside the world's leading business figures in this exciting programme of events.”