In May 2008, UCL and the Royal Institution of Great Britain entered into a five-year programme of Joint Research Activities in healthcare biomagnetics, led by Quentin Pankhurst, who was both appointed as Director of the Davy-Faraday Research Laboratory at the RI, and retained as a part-time Professor of Physics at UCL. At the RI, Pankhurst runs research programmes in bio- and nanomagnetism aimed at making practical advances in the use of magnetic nanoparticles in healthcare. These include medical imaging devices, targeted regenerative medicine, molecular imaging microscopy for living cells, and the development of multi-functional nanoparticles for therapy and diagnostics. Pankhurst is also a founder and the current CTO of Endomagnetics Ltd, a spin-out company which in 2010 gained a CE mark for, and started selling, the SentiMag - an intra-operative medical device for breast cancer surgery.