Today, AegirBio AB announces that the company’s name has officially been changed to Magnasense AB in the Swedish Companies Register. This registration follows that the previously intended and published name, MagnOral AB could not be registered by the Swedish Companies Registration Office. Consequently, the board of AegirBio proposed, pursuant to the authority granted by the annual general meeting 2024, Magnasense AB as the new company name which was registered today. The company’s share will be traded under the ticker MAGNA (instead of AEGIR) on Nasdaq First North Growth Market. Additionally, the company will launch a new company website www.magnasense.com on 9 July 2024 and visits to www.aegirbio.com website will be redirected to www.magnasense.com.
This pivotal decision, which has been enacted today, is based on several key factors that align with the company's heritage, technological advancements, and future growth strategies.
“Rebranding to Magnasense is a deliberate move that aligns with our historical achievements, current technological advancements, and future aspirations. We are excited about the opportunities this rebranding presents and remain committed to delivering innovative solutions that improve health outcomes globally,” said Marco Witteveen, CEO of AegirBio.
Heritage, Innovation, and Brand Recognition: By adopting the name Magnasense AB, the company is honoring its innovative roots while leveraging existing brand recognition from products like the MagniaReader, reinforcing the company’s reputation as a leader in magnetic test strip technology. Magnasense is the company’s Finnish affiliate, the birthplace of the pioneering magnetic technology. The company’s initial breakthrough and crucial IP rights are under the Magnasense name. The advanced technologies the company is currently developing build upon this foundation, enhancing and potentially expanding the IP portfolio associated with Magnasense. Furthermore, the name Magnasense has been in use for several years at the company’s Finnish office, further solidifying its established presence and reputation in the market.
Versatility in Testing Applications: While the company’s primary focus remains on saliva testing, the name Magnasense allows it to explore and potentially develop assays using a variety of sample types. This strategic flexibility is crucial for adapting to market needs and emerging scientific opportunities, ensuring the company remains at the forefront of diagnostic technology.
Strategic Alignment and Future Vision: The decision to rename to Magnasense AB reflects the company’s commitment to a cohesive and strategic vision. The name aligns with the company’s mission to advance diagnostic technologies and underscores the company’s dedication to building upon the company’s established expertise. It strongly positions the company for future growth, enabling attracting new partnerships, investments, and market opportunities.
MAGNASENSE AB 
