Diagnosis of lymphatic spread in rectal cancer patients

We want to offer the health care a more precise, simpler and less costly diagnosis of cancers and other diseases. 

Currently, reliable diagnostic methods in preoperative evaluation, for lymphatic spread in rectal cancer patients are lacking – in particular, methods to rule out that rectal cancer has spread to the lymph nodes. We have identified a void in today’s care and a great need for a more reliable rectal cancer staging. 

At NanoEcho, we specialize in a novel, user-friendly imaging method known as magnetomotive ultrasound. As the contrast agent for medical ultrasound imaging, we use iron-oxide-based nanoparticles. The images are generated by visualizing NanoTrace® signals and are intended to facilitate the differentiation between diseased and healthy tissue. The method makes it possible to detect cancer spread to the lymph nodes before surgery.

Thanks to a higher precision, the method has the potential to meet the need for a more reliable staging of rectal cancer patients by providing a better mapping of the cancer spread to nearby lymph nodes.

The company was founded in 2013 as a spinoff from a group of researchers at the Department of Biomedical Engineering at Lund University. NanoEcho is a Swedish medtech company seated in Lund. 

We expect to be able to solve an important clinical problem. There are a number of other potential applications for the technology as such, including prostate cancer detection, identification of dangerous plaques in blood vessels or as an important tool for stem cell therapies.

Tomas Jansson

Professor of medical engineering and founder of NanoEcho


NanoEcho’s diagnostic system will be a complement to MRI scans and part of the future standard of care.

The system will be used by physicians in preoperative evaluation, in patients suffering from rectal cancer. By establishing if the cancer has spread to the lymph nodes, the medical team will be able to provide each patient the best possible, personalized cancer treatment and the best prognosis.

The company’s unique method will provide a safer and more reliable identification of metastatic lymph nodes.


Our clinical trials on surgically removed rectal cancer tissue, will commence at Sahlgrenska University Hospital in Gothenburg and at Skånes University Hospital in Malmö. The recruitment procedure is ongoing at each hospital and the clinical trail at Sahlgrenska University Hospital started in June 2021.

As surgeons are the end users of our system, it is essential that we involve them even now, in our clinical trials. These physicians will also have an important part to play in the implementation of the method in hospitals and clinics following regulatory authorization. 

We will carry out the first clinical trials and optimize the instrument during 2021 and 2022. The findings from the first clinical trials and optimizations are expected to serve as the basis for the next generation of the instrument, adapted for commercialization. This is projected to take place between 2022 and 2023. Our ambition is to place our first MVP (Minimal Viable Product) system in a strategic reference clinic in Sweden 2025 (see figure below).

As we approach market launch, we will gradually increase the focus on ensuring the most time- and cost-efficient series production possible. This work includes, among other things, the buildup of supply chains and partnerships to ensure a high deliverability to the end customers. 

The optimization of the instrument prior to market launch consists of two parts:

  1. To ensure that the sensitivity and specificity are high enough to meet the customer demand for better diagnostics. 
  2. To make such adaptations that are stipulated by regulatory requirements and the requirements to obtain CE mark, which is required before marketing the instrument to hospitals. 

Initially, our cooperation will be geared towards potential reference clinics in Sweden and the Nordic countries. Once CE mark certification is obtained, we intend to expand to other European markets. We may either go to market with our product on our own or seek partnerships with existing distributors of ultrasound devices and nanoparticle-based contrast agents.

Recurring revenue

The business objective is to achieve reference selling, with a focus on leading university hospitals. The next stage will be to partner with a major medical company.

We will sell the diagnostic system – an imaging scanner and a hand-held probe, including ultrasound sensors and magnetic field sensors – at the cost of production. We will then charge by the treatment session through the selling of single-use items.

The purpose of the offer is to generate recurring revenue throughout the life of the system. 

Development Strategy

Standard of care of rectal cancer

Our goal is to be included in the rectal cancer standard of care and reduce the number of patients that receive the wrong treatment.

The purpose of the standard of care is to ensure that every patient under investigation with suspected cancer can experience a well organized, integrated, professional care without unnecessary waiting time, irrespective of where in the country they seek treatment. The process results in a basis for a medical assessment and a decision on the most appropriate treatment strategy for each patient. 

The standard of care for rectal cancer includes three different examinations: tissue analysis, CT thorax and MRI. The results of those three examinations form the most important basis of evaluation in a multidisciplinary care conference (MDC). 

Tissue analysis
Tissue from the suspected tumour is removed by means of a smaller surgical procedure and analyzed microscopally by a pathologist to distinguish between healthy and diseased tissue.

An imaging method based on a magnetic resonance imaging scanner that is used to study the primary tumour and possible metastatic spread to the lymph nodes.

CT Thorax
A computed tomography scan of the chest that employs X-ray measurements to map possible spread of cancer cells to the thorax.

NanoEcho’s method
Complements the MRI examination and maps the possible spread of metastases to nearby lymph nodes with increased precision.

Management and Board

The NanoEcho team is represented by persons with unique competence in the method the company is specialized in. The executive management consists of persons with solid experience and knowledge in medical technology. Furthermore, there is a track-record of successfully taking products from the conceptual phase to a fortunate launch.

Dr. Linda Persson

Number of shares: 50.000

E-mail:: lp@nanoecho.se

Linda Persson has a Ph.D. in medical technology and extensive experience from several leading industrial positions in product development. Most recently, she held a senior role at E.ON’s strategy and business development unit. Prior to that, Linda served in influential positions at other companies, such as Baxter and Sony.

Csc Magnus Santesson

Number of shares: 66.000

E-mail:: ms@nanoecho.se

Magnus Santesson has extensive experience as program and project manager for global technical development projects within the FMCG industry as well as the medical technology field. In addition, he was a co-founder and developer of Mobytech Consulting, which reached 28 employees before being sold to a French consultancy company.

MBA Henrik Ljung

Number of shares: 20.000
(through the company Ljung & Winbladh AB)

E-mail:: hl@nanoecho.se

Henrik Ljung holds a holds a Master of Business Administration from Lund University. He has solid experience as chartered accountant and many years of experience as CFO at listed companies, including Acconeer Ab, Carbiotix AB, Qlife Holding AB and AB Sardus. Henrik is highly experienced with companies in early development stages and mergers and acquisitions. Hired on a consulting basis equivalent to approx. 20 percent of a full-time position.

Kristina Hallström


Number of shares: 

E-mail: kh@nanoecho.se

Kristina Hallström holds a Master of Business Administration from Lund University as well as an exam in Physiotherapy. She has extensive experience from marketing strategy, marketing communication, PR and clinical affairs from the International MedTech industry in companies such as Arjo, Getinge, ProstaLund and Care of Sweden. Kristina is working 50 percent of a full-time position. 


Daniel Johnsson
Chairman of the Board

Number of shares: 1,666,667 (through the company Quiq Holding AB)

Experienced serial entrepreneur with a number of successful “exits”. 25 years of experience as CEO of Exertis Nordics Ab, of which the last 7 years in a listed group. Is now active as an investor and advisor. Today he is Chairman of the Board of Oblique Therapeutics AB (publ), Postery AB, Renable AB, Admazing AB and board member of Quiq Holding AB, Krafthem AB, Playground TV AB, Chillimobil AB, Workpilots Oy.

Dr. Johannes Swartling

Number of shares: 100.000

Long experience in the commercialization of research results in the role as CTO at SpectraCure and previously as CTO at Gasporox and GPX Medical. Ph.D. in physics from Lund University. Broad expertise in product development for medical device systems.

Independent in relation to the Company and not independent in relation to major shareholders.

Independent in relation to major shareholders and the Company.

MBA BG Svensson

Number of shares: 25.000
(through the company Förvaltnings AB Borgeby)

Experienced board member, both as Chairman and director, in both listed and unlisted companies. Experience from leading positions in banking and industry and later as CEO of Lunds Universitets Holdingbolag, LUAB, where he held directorships within the group, and as CEO of Science Village Scandinavia AB.

Prof. Tomas Jansson
Number of shares: 999.961

Professor of medical engineering at Lund University, based at Medicinsk Teknik Skåne, Skåne University Hospital. Head of the interdisciplinary center Medicon Bridge at Lund University and Region Skåne. Conducts research on diagnostic ultrasound with magnetomotive ultrasound.

Independent in relation to major shareholders and the Company.

Dependent in relation to major shareholders and the Company.

Ann-Christin Malmborg Hager

Number of shares: 0

Long experience of starting a business in life science. She has previously been CEO of PainDrainer AB, SenzaGen AB, DiaProst AB, Cantargia AB and XImmune AB. Worked as Investment Director at LU Bioscience and VP Business Development at Alligator Bioscience AB. She is currently business coach at SmiLe incubator, advisor to start-up companies and board member of SenzaGen AB, DiaProst AB, Avena Partners AB and Hager Consulting AB

Independent in relation to both major shareholders and in relation to the Company.

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