Founded in 2004, MagSil Corporation developed MRAM technology using industry-proven equipment, processes and materials. MagSil had an exclusive license to an MIT-developed technologies, including one for HD heads (the company filed suits against Seagate, Hitachi, Western Digital and others, and have settled with most).
In August 2010 Magsil came out of "stealth mode", giving more info about ther technology and patents. They plan to make a 1Mb MRAM chip in 2010. The company does not seem to be in business any more.