MagSil has been working on MRAM since 2004, but we had very little information about the company till now (except for a PR from 2009 in which they said they'll soon reach full-scale commercialization). Today they have finally revealed more information. They are developing MRAM based on Magnetic Recording (iMR) cell architecture, based on a traditional magnetic tunnel junction (MTJ) scheme.
The company hopes to start making a standalone 1Mb MRAM device (based on 130- and 90-nm processes) "pretty soon". They also have plans for a 64Mb chip.
The technology was originally developed by MIT and exclusively licensed to Magsil. They have filed several suits against companies over hard disk drive components using tunneling magnetoresistive (TMR) technology and have reached settlements with Western Digital, Seagate, SAW Magnetics and Headway Technologies. Litigation is still ongoing with Hitachi and Shenzen ExcelStor technology.