14.12.2011

MagForce Signs Letter of Intent with Leading Russian Medical Product Distribution Company Delrus

  • Plans outlined for NanoTherm® therapy market entry in Russia  
  • Financial and professional support for approval in Russia
  • First step for internationalization of NanoTherm® therapy

 

Berlin, December 14, 2011 - MagForce AG (XETRA:MF6), a leading medical technology company focusing on nanomedicine in oncology and Delrus Inc., a leading Russian medical product distribution company, announced today the signing of a Letter of Intent (LOI) between the two companies.  The LOI outlines a collaboration focusing on an exclusive distribution agreement for NanoTherm® therapy in the Russian Federation and Kazakhstan.  The LOI includes Delrus’ financial and professional support for the regulatory approval of NanoTherm® therapy in brain tumors and other indications in Russia, including pancreatic and prostate cancer. 

 

Delrus is one of the largest and most established distributors for medical products in Russia, working with partners like Johnson & Johnson, 3M, Nihon Kohden, Fresenius Kabi, and many other medical products manufacturers.  With more than 2500 employees, the company has an extensive distribution and service network to support their marketing activities, which enables them to not only introduce new products and technologies to the market, but also support their usage and expansion. The Russian market is especially interesting for MagForce since it provides access to a population of 160 million people.

 

“This year Delrus is celebrating its twentieth anniversary as company and its ongoing commitment to bring the most modern and advanced technologies to the Russian healthcare system.  Our motto, “progress in the name of life,” reflects the very promising potential we see in a collaboration with MagForce,” said July Magadeev, President of Delrus. “We look forward to the opportunity to bring nanomedicine in oncology to the medical market in Russia and Kazakhstan and professionally support its usage among oncology specialists and in hospitals."

 

“I am extremely pleased that we are working together with Delrus to establish a comprehensive collaboration to distribute NanoTherm® therapy in Russia and Kazakhstan,” said Dr. Andreas Jordan, Founder and member of the Executive Board at MagForce. “Their experience and excellent track record open up significant opportunities for MagForce in Central and Eastern European markets.”

 

ABOUT MAGFORCE AG:

MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company’s proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivatorTM 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. For more information, please visit www.magforce.com.

 

ABOUT DELRUS

DELRUS, founded in 1991 with currently more than 2500 employees, is an international science and industry holding company maintaining partnership relations with medical product manufacturers in 30 countries. The company, among leaders in the Russian market for medical goods and disposables, is active in the supply of medical institutions. Delrus has regional affiliates in the 80 largest cities of Russia, Belarus, Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbajan, and the Ukraine. For more information please visit www.delrus.com/en

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.

Contact:

Stacy Wiedenmann

Director Investor Relations & Corporate CommunicationsMagforce AG Max-Dohrn-Str. 810589 Berlin

T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email: swiedenmann@magforce.com

 

22.11.2011

MagForce AG Announces Initiation of Research Coverage by Merchant Securities Limited

Berlin, November 22, 2011 - MagForce AG (FSE:MF6), a leading medical technology company focusing on nanomedicine in oncology, announced today that Merchant Securities Limited has initiated research coverage on the company and published its first report today.  The report is available upon request from MagForce AG and Merchant Securities Limited or at hugin.info/143761/R/1565871/486073.pdf.

"We are very pleased that Merchant Securites has taken up coverage of MagForce.  The comprehensive report gives investors an independent view of the company, our novel technology for the treatment of brain tumors, and perspectives on our future growth and development" said Dr. Andreas Jordan, Founder and CSO at MagForce. "Merchant's head life science analyst, Dr. Navid Malik, has been following MagForce for some time and is a highly regarded equity research analyst with over fifteen years' experience in the pharmaceutical field, specifically in the area of oncology."

ABOUT MAGFORCE AG:

MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company's proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivatorTM 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.

ABOUT MERCHANT SECURITIES LIMITED:

Merchant Securities Group plc offers a broad range of financial services through its Private Client Wealth Management and Investment Banking divisions.  The Investment Banking division provides services to UK small and mid-cap companies and institutional investors, with the equity research team currently covering five targeted sectors including Life Sciences.  The Life Sciences team is headed by Navid Malik who has over fifteen years' experience within the Pharmaceutical arena.  He was awarded two StarMine Analyst Awards in 2011, having been ranked as the number one stock picker in the European Pharmaceuticals sector and number two stock picker in the UK and Ireland Healthcare sector.

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.

Contact:
Stacy Wiedenmann
Director Investor Relations & Corporate Communications
Magforce AG
Max-Dohrn-Str. 8
10589 Berlin
T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email: swiedenmann@magforce.com
www.magforce.com


 

17.11.2011

MagForce AG Shareholders' Letter

Dear Shareholders,

 

Today we would like to give you an update on the most important developments at MagForce since the beginning of this year.  We are pleased to inform you that leading experts have shown a strong interest in NanoTherm® therapy for the treatment of brain tumors and are ready to work with us to gain their own experience with the innovative technology.  In addition, we have planned clinical projects in the area of prostate and pancreas cancer with leading national and international experts and institutions.  In general, the projects focus on the scientific development of the therapy through studies with experts, which will form the basis for the further success of the therapy in Germany, the EU, and worldwide.

 

But first things first.  In 2010, after more than 20 years of research and development, MagForce received the approval for NanoTherm® therapy for the treatment of brain tumors.  In the first treatment step, the treating physician injects nanoparticles into the tumor.  Subsequently, the patient is treated in the NanoActivatorTM, a device that uses a rapidly alternating magnetic field that activates the nanoparticles to produce heat.  The first NanoActivatorTM is located at the Charité University Hospital in Berlin.  We are pleased that state insurance companies have begun to reimburse the therapy. 

 

For a broader acceptance of the MagForce technology by treating physicians, we have now involved leading neurosurgeons, neuro-oncologists and radio-oncologists. These scientific opinion leaders are responsible for creating treatment guidelines for brain tumors, and the larger medical community follows their recommendations.

 

We have generated a great deal of scientific interest in the therapy and are now in the final planning stages for clinical studies in additional indications. These clinical development projects will be conducted in leading international oncology clinics.  Key opinion leaders now want to gain their own experience with the MagForce technology and are eager to participate in a glioblastoma clinical trial conducted at the highest medical standards used in the oncology field.  Their participation is a strong vote of confidence and a great achievement for MagForce and will ultimately lead to the use of the therapy in many prestigious clinical centers.

 

With respect to prostate and pancreatic cancer indications, we are now in discussion with relevant experts and discussions are progressing very well. In Germany, our plans include working together with leading urologists on the clinical development of prostate cancer from the initial "proof of concept" study through approval. For the further development of pancreatic cancer, MagForce is currently setting up a cooperation with one of the most renowned clinics in the United States where medical experts are anxious to be part of a comprehensive development project from preclinical through proof of efficacy.

 

All these developments have brought the company to a breakthrough that will ultimately enable us to not only penetrate the market for the treatment of brain tumors, but will support us to successfully enter the markets for prostate and pancreatic cancer.  These perspectives are exciting not only for the company, its shareholders, and investors, but especially for physicians and their patients, who are in need of new treatment options.

 

Following the changes announced in October in the MagForce management team, I, Dr. Andreas Jordan, founder of MagForce, am leading the company. Other relevant key positions in the company have been taken over by members of the management team, in particular, Prof. Dr. Hoda Tawfik, Vice President Clinical Development and Medical Affairs, and Ms. Solveig Salomon, Vice President Marketing and Sales, who have also signed this letter.  These individuals have decades of experience in the pharmaceutical industry and particularly in the area of oncology.  They, along with their teams, have made a decisive contribution to the recent positive developments achieved with the medical experts, which have brought us on a path to move forward.

 

For the further financing at MagForce, the increasing revenues generated by the commercial treatment of patients do not balance the firm's current expenditures. For the long-term we are evaluating a number of financing possibilities, and for the year 2012, we see the financing basically as secured. Our discussions have yielded positive responses as more and more investors see the potential of our novel technology and recognize the promising developments recently achieved. Also our main shareholder, Nanostart AG, has indicated to us that they are evaluating the expansion of their current position. Moreover, there is also strong interest from strategic investors from abroad.

 

Dear Shareholders, the goal of MagForce has always been to establish a completely novel therapy for the treatment of solid tumors that would complement existing cancer therapies. The company has come a long way and the road has not always been smooth. Overall, having overcome the challenges of the past, we are now looking to the future with confidence and determination. Thanks to our outstanding innovation, the dedication of our highly motivated staff, and our unique technology, we now have everything on board to be a successful leader in these exciting markets. We thank you for your support, especially in difficult times, and look forward to bringing you exciting news in the near future. We are certain that your patience with the investment in MagForce will be rewarded.

With best regards,

Dr. Andreas Jordan, Founder and Management Board for Research and Development

Prof. Dr. Hoda Tawfik, Vice President Clinical Development and Medical Affairs

Solveig Salomon, Vice President Marketing and Sales

 

Berlin, November 17, 2011

 

For questions, please contact:
Stacy Wiedenmann
Director, Investor Relations & Corporate Communications
Magforce Nanotechnologies AG
Max-Dohrn-Str. 8
10589 Berlin
T +49 30 308 380 31
M +49 151 12000 722
email: swiedenmann@magforce.com
www.magforce.com

 

 

 

 

 

31.10.2011

MagForce AG Announces Changes to Supervisory and Management Boards

Berlin, October 31, 2011 - MagForce AG (FSE:MF6), a leading medical technology company focusing on nanomedicine in oncology, announced today the resignation of Prof. Dr. Walter Rust as chairman of the Supervisory Board as of October 25, 2011 due to health reasons. Effective October 28, 2011, Dr. Peter Heinrich stepped down from his position as MagForce CEO and is expected, at a future date, to return to his previous role as a member of the MagForce Supervisory Board. Until further appointments are confirmed, Dr. Andreas Jordan will represent the Management Board with the support of Prof. Dr. Hoda Tawfik, VP Clinical Development & Medical Affairs, and Solveig Salomon, VP Marketing & Sales.

 

Dr. Peter Heinrich said, “When I assumed the position of Magforce CEO, my primary goal was to build professional structures within the company by putting together a team of highly qualified and motivated individuals. This goal has been achieved along with the approval and launch of NanoTherm therapy in the EU and treatment of the first patient with the novel therapy.  I would now like to step back from daily operational activities and, in the future, further support the company’s growth and development as a member of the Supervisory Board.”

 

ABOUT MAGFORCE:

MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company’s proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivatorTM 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.

 

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.

 

Contact:
Stacy Wiedenmann
Director Investor Relations & Corporate Communications
MagForce AG
Max-Dohrn-Str. 8
10589 Berlin
T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email: swiedenmann@magforce.com
www.magforce.com