MagForce AG Announces Successful Share Capital Increase from Authorized Capital

The additional capital will be mainly used to accelerate the on-going international expansion of MagForce, in particular in Europe.

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Berlin, Germany, and Nevada, USA, June 28, 2017 - MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, today successfully completed the capital increase from authorized capital resolved on June 28, 2017. The Company’s share capital will therefore be increased from its current level of EUR 25,622,711.00 to EUR 26,343,172.00 by issuing 720,461 new no-par-value shares at a price of EUR 6,94 per share by partially utilising existing authorized capital against cash contributions. The transaction is accompanied by Hauck & Aufhaeuser Privatbankiers. All new shares were subscribed by UK-based M&G International Investments Ltd. in a private placement. Gross proceeds for MagForce AG amount to EUR 5.0 million.

The additional capital will be mainly used to accelerate the on-going international expansion of MagForce, in particular in Europe.

The current roll-out plan sees MagForce placing its NanoActivators in a number of European countries and thus enabling patients to be treated in their home countries. This will allow patients to be treated with MagForce’s NanoTherm therapy as quickly and conveniently as possible following diagnosis.

Facilitating treatment of patients in their home countries will also simplify reimbursement in those countries where MagForce already has the CE mark approval for the treatment of brain tumours. Amongst others, MagForce’s commercial and medical teams have identified Poland, Italy, Switzerland and Spain as suitable countries for NanoTherm treatment centres.

Based on the highly satisfying treatment results, management expects that the European roll-out, combined with reimbursement approval in the relevant countries, is expected to significantly speed up revenue generation and profitability of the European business.

About MagForce AG and MagForce USA, Inc.

MagForce AG, listed in the Scale segment of the Frankfurt Stock Exchange (MF6, ISIN: DE000A0HGQF5), together with its subsidiary MagForce USA, Inc. is a leading medical device company in the field of nanomedicine focused on oncology. The Group's proprietary NanoTherm® therapy enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of superparamagnetic nanoparticles.


NanoTherm®, NanoPlan®, and NanoActivator® are components of the therapy and have received EU-wide regulatory approval as medical devices for the treatment of brain tumors. MagForce, NanoTherm, NanoPlan, and NanoActivator are trademarks of MagForce AG in selected countries.

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Disclaimer
This release may contain forward-looking statements and information which may be identified by formulations using terms such as "expects", "aims", "anticipates", "intends", "plans", "believes", "seeks", "estimates" or "will". Such forward-looking statements are based on our current expectations and certain assumptions, which may be subject to a variety of risks and uncertainties. The results actually achieved by MagForce AG may substantially differ from these forward-looking statements. MagForce AG assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.

 

 

MagForce AG Issues three-year convertible note

CONVERTIBLE NOTE WILL BOLSTER LIQUIDITY AND FACILITATE NEW PRODUCT DEVELoPMENT

In order to bolster liquidity and facilitate new product development beyond 2017, MagForce AG  issued a three-year convertible note. Product development includes laying the groundwork for expanding the Company’s therapy to additional tumors, like brain metastasis, and to also use its nanoparticles as a drug delivery mechanism. The note is in the amount of EUR 5 million, will bear an interest rate at 5% p.a. and have a conversion price at 5,00 EUR/share. The note has been issued to an investment vehicle managed by Lansdowne Partners Austria.