10.12.2009

MagForce Nanotechnologies AG appoints Dr. Peter Heinrich as Chief Executive Officer

Berlin – MagForce Nanotechnologies AG (Entry Standard segment of the Frankfurt Stock Exchange, ticker MF6) has announced the appointment of Dr. Peter Heinrich, until now the deputy chairman of its supervisory board, as the company’s new chief executive officer effective January 1, 2010. The appointment follows the decision of Dr. Uwe Maschek to resign at his own request as CEO as of December 31, 2009.

Dr. Peter Heinrich was co-founder of MediGene AG and served as its managing director and CEO from 1995 until the middle of 2009. MediGene is a biotechnology company listed on the Frankfurt Stock Exchange and included in the TecDax index which at that time was focused on the development of innovative pharmaceuticals in the fields of oncology/immunology and cardiology. In his long career with the company, Dr. Heinrich initially served as CEO/managing director and sole executive board member with responsibility for all areas. Following the company’s stock exchange listing in 2000 and expansion of its executive board, he held specific board-level responsibility for the areas of administration, business development, controlling, corporate finance, investor and public relations, organizational development, intellectual property and human resources, along with executive responsibility for the company’s facilities in San Diego (California) and Oxford (UK). Under the leadership of Dr. Heinrich, MediGene grew from a venture capital-financed start-up to an established biopharmaceutical company with international operations and drugs on the market. Along the way, Dr. Heinrich played a key role in achieving a number of noteworthy milestones in the company’s development, including the regulatory approval and market launches of the drugs Eligard®, Veregen® and Oracea®, the acquisition of companies, the in- licensing and out-licensing of drug candidates, strategic partnerships with pharmaceutical corporations, the company’s listing on the Frankfurt Stock Exchange in 2000 as well as follow-on capital market transactions.

Prior to his achievements at MediGene, Dr. Heinrich worked for almost eight years at Wacker Chemie AG in Munich, where he held several positions in management and in biotechnology research and development. During this time he was substantially involved in the development of biotechnology products which have since been successfully brought to market. Following his studies in biology and chemistry at the University of Munich, where he received his doctoral degree in biochemistry, Dr. Heinrich continued with post-doctoral work at Harvard University. He is co-founder and chairman of the executive board of BIO-Deutschland, an independent organization representing the interests of the German biotechnology industry. From 2001 to 2009 he served as a member of European Biopharmaceutical Enterprises (EBE), including as its president from 2003 to 2006. Dr. Heinrich also serves on the board of trustees of Bayern Innovativ GmbH, as a mentor and tutor at the Bavarian Elite Academy, and on the supervisory board of the University of Augsburg’s MBA program.

"We deeply regret that Dr. Maschek has decided to end his extremely successful tenure at MagForce Nanotechnologies AG, but we are absolutely delighted that we have been able to attract such an extraordinarily well qualified candidate as Dr. Heinrich as our new CEO," said Professor Walter Rust, chairman of the company’s supervisory board. "Dr. Heinrich brings more than 20 years of international experience in the fields of biotechnology research and pharmaceutical development, in the negotiation of licensing agreements and strategic partnerships, in the commercialization of pharmaceuticals, and in company acquisitions and capital market transactions. On top of all this, he knows MagForce well from his past service on the supervisory board, making him the ideal individual to take over as our new CEO. We thank Dr. Maschek for his many contributions and wish Dr. Heinrich great success in his new position."

Dr. Peter Heinrich, the newly named CEO of MagForce, added that "with its Nano-Cancer® therapy, MagForce possesses an extremely innovative and effective therapeutic procedure to treat solid tumors, for which an application for EU-wide regulatory approval has been submitted following the successful completion of clinical trials in glioblastoma patients with compelling data received. The next step is to drive forward vigorously with preparations for commercializing the products in Europe and to rapidly expand the scope of application of our Nano-Cancer® therapy to encompass additional cancer indications, as well as to position the company in the international market."

 

 

ABOUT MAGFORCE NANOTECHNOLOGIES:

MagForce Nanotechnologies AG is one of the world’s leading companies in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.

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 Nanotechnologies AG may substantially differ from these forward-looking statements.

 

10.12.2009

Professor Wolfgang Heckl appointed to supervisory board of MagForce Nanotechnologies AG

Berlin – Professor Wolfgang Heckl has been newly appointed as a supervisory board member of MagForce Nanotechnologies AG (Entry Standard segment of the Frankfurt Stock Exchange, ticker MF6), following the election of Dr. Peter Heinrich, until now deputy chairman of the supervisory board, as the new chief executive officer of MagForce effective January 1, 2010.

Professor Heckl is considered one of the world’s leading experts in the field of nanotechnology. His commitment to ongoing research in nanotechnology from its very early stages and to building public awareness of this groundbreaking technology were recognized in 2004, when he received the European Union’s Descartes Prize for Science Communication. Dr. Heckl was named professor of experimental physics at the Ludwig Maximilian University (LMU) in Munich in 1993, and has been general director of Germany’s largest science museum, Munich’s renowned Deutsches Museum, since 2004. Since 2009 he has additionally held the Oskar von Miller Professorship in Scientific Communication at the Technical University of Munich (TU München). He is involved in various scientific associations, including the Excellence Network NanoBioTechnology, as well as centers of scientific excellence such as the Center for NanoScience and the GeoBioCenter at the LMU in Munich.

"We are extremely pleased that Professor Heckl, who already in the past has served as a supervisory board member of MagForce Nanotechnologies AG, has declared his readiness to once again provide his active support and scientific expertise to MagForce,” said Professor Walter Rust, chairman of the company’s supervisory board. “Particularly in the further scientific development of its nanotechnology-based cancer therapy, MagForce will benefit from his close involvement.”

 

 

ABOUT MAGFORCE NANOTECHNOLOGIES:

MagForce Nanotechnologies AG is one of the world’s leading companies in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.

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 Nanotechnologies AG may substantially differ from these forward-looking statements.

 

03.11.2009

MagForce Nanotechnologies reaches primary study endpoint in pivotal glioblastoma study

Berlin - MagForce Nanotechnologies AG has successfully completed its single-arm clinical trial on the efficacy of thermotherapy using superparamagnetic nanoparticles in patients with recurrent glioblastoma. The primary study endpoint, which was to extend the median survival time following tumor recurrence by three months compared to a historical control group, was significantly exceeded in the actual results. The 59 patients evaluated to determine the clinical efficacy of treatment with Nano-Cancer® therapy with accompanying radiotherapy attained a median survival time following diagnosis of the first tumor recurrence of 13.4 months* (99% confidence interval: 9.7-17.1 months). Compared to the 6.2-month median survival time* following recurrence observed in a recently published EORTC study with a total of 573 patients**, the survival time with Nano-Cancer® therapy is statistically highly significant longer (p-value < 0.01).

The results of the clinical trial will now form the basis for the conformity assessment procedure required under the German Medical Devices Act (Medizinproduktegesetz). The product file should be submitted as planned by year end to “MEDCERT Zertifizierungs- und Prüfungsgesellschaft für die Medizin GmbH”, a notified body for the certification of medical devices. Following successful completion of the conformity assessment procedure for Nano-Cancer® therapy and EC type testing of the magnetic field applicator, MagForce will be able to market its Nano-Cancer® therapy throughout the European Union.

 

* Determined with the Kaplan-Meier method
** Stupp et al., Lancet Oncol 2009; 10:459-66

 

 

ABOUT MAGFORCE NANOTECHNOLOGIES:

MagForce Nanotechnologies AG is one of the world’s leading companies in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.

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 Nanotechnologies AG may substantially differ from these forward-looking statements.

 

22.09.2009

MagForce Nanotechnologies completes patient recruitment for pivotal glioblastoma study

Berlin – MagForce Nanotechnologies AG has successfully completed patient recruitment for its study on recurrent glioblastoma, which is of critical importance for demonstrating the efficacy of its proprietary Nano-Cancer® therapy. The results of this phase II clinical trial will serve as the basis for the conformity evaluation procedure required under the German Medical Devices Act (Medizinproduktegesetz).

"The completion of patient recruitment is a further milestone on the way to receiving CE European conformity marking for the therapeutic procedure we have developed through which tumors can be specifically and accurately heated and destroyed from the inside out. We plan on preparing the statistical data in the fourth quarter of 2009, as soon as enough patients have concluded the post-observation period or have otherwise reached the study endpoint, so that we will be able to have the product file put together before the end of this year. Once we have received the CE marking, which certifies conformity with health and safety regulations throughout the European Economic Area, we hope to be in a position already next year to commence marketing of Nano-Cancer® therapy throughout Europe," said Dr. Uwe Maschek, CEO of MagForce Nanotechnologies AG.

 

 

ABOUT MAGFORCE NANOTECHNOLOGIES:

MagForce Nanotechnologies AG is the world’s leading company in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.

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 variety of risks and uncertainties. The results actually achieved by MagForce Nanotechnologies AG may substantially differ from these forward-looking statements. MagForce Nanotechnologies AG assumes no obligation to update these forward-looking statements or to correct them in case of  developments which differ from those anticipated.