DGAP-News: MagForce AG / Key word(s): Miscellaneous
MagForce AG: MagForce AG Publishes its Fourth Shareholder Letter 2014
12.11.2014 / 08:45
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MagForce AG Publishes its Fourth Shareholder Letter 2014
Berlin, Germany, and Nevada, USA, November 12, 2014 - MagForce AG
(Frankfurt, Entry Standard, XETRA: MF6, ISIN: DE000A0HGQF5), a leading
medical device company in the field of nanomedicine focused on oncology,
today published its fourth Shareholder Letter 2014:
"Dear MagForce Shareholders,
I am pleased to report that during the third quarter, we maintained our
momentum to achieve our 2014 targets. As previously reported, we have
successfully established and funded MagForce USA, Inc. to expand our
NanoTherm(TM) therapy to the North America Region.
Brain Cancer Therapy: Our main objective for 2014 was to initiate our
post-marketing clinical study (MF1001) in recurrent Glioblastoma (GBM)
patients with the placement of NanoActivator(R) devices in world class
hospitals in Germany. During the third quarter we have assembled two of the
three activators scheduled for installation in the fourth quarter. Facility
modifications at the designated hospitals in Cologne and Frankfurt are
underway. In addition, we have initiated the processes required for the
commencement of commercial treatments. Clearly, in 2014 our target for
those treatments is very limited but it is the first step leading to a
significant increase in commercial treatments in 2015.
With respect to our expansion phase outside Germany, we continue preparing
our registration path for the USA.
Prostate Cancer Therapy: Regarding the application of our NanoTherm(TM)
therapy for the treatment of prostate cancer, our unique technology is
viewed as a very promising complement to current treatment approaches. In
November, MagForce USA, Inc. has filed a pre-submission with the USA Food
and Drug Administration outlining our plans for Focal Treatment of
Intermediate Primary Prostate Cancer.
Financial: MagForce AG presents financial results at six month intervals;
however, I can report that financially the Company developed as planned
during the quarter and the nine month period ended September 30, 2014. We
are very conscious of our expense budget and make every effort to live
within this budget. The ongoing production of Nanoactivator(R) devices and
the setting up of clinical sites for clinical trial patients as well as for
commercial treatments met our expectations. Moreover, liquidity and
operating result for the quarter-year and the nine months period ended
September 30, 2014 were in line with expectations and we are confident to
reach our financial targets for the full- year period.
Investor Relations: During the third quarter, MagForce AG presented at the
11th Annual European Medtech & Healthcare Services Conference at Goldman
Sachs in London, the Berenberg & Goldman Sachs Third Annual German
Corporate Conference and the Baader Investment Conference in Munich. In
addition, we conducted a European roadshow in Frankfurt, Munich, Zurich,
Paris and London in July. During those events, MagForce handled over forty
one on one meetings with shareholders and potential shareholders.
Dear Shareholders, In summary, we are successfully moving forward on our
challenging path to develop NanoTherm(TM) therapy into a valued therapy for
the treatments of Glioblastoma and Prostate Cancer.
Again, thank you for your interest and support of MagForce.
Sincerely,
Dr. Ben Lipps
Chief Executive Officer &
Chairman of the Management Board"
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About MagForce AG and MagForce USA, Inc.
MagForce AG, listed in the entry standard 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(TM) therapy enables the
targeted treatment of solid tumors through the intratumoral generation of
heat via activation of superparamagnetic nanoparticles. Mithril Capital
Management, a growth-stage technology fund founded by Ajay Royan and Peter
Thiel, along with MagForce AG, are investors and strategic partners in
MagForce USA, Inc.
NanoTherm(TM), NanoPlan(R), and NanoActivator(R) are components of the
therapy and have received EU-wide regulatory approval as medical devices
for the treatment of brain tumors. MagForce, NanoTherm(TM), NanoPlan(R),
and NanoActivator(R) are trademarks of MagForce AG in selected countries.
For more information, please visit: www.magforce.com.
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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.
Contact:
Anne Hennecke
MC Services AG
T +49 211 529252-22
F +49 211 529252-29
Email: anne.hennecke@mc-services.eu
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12.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: MagForce AG
Max-Planck-StraÃe 3
12489 Berlin
Germany
Phone: +49 (0)30 308 380 0
Fax: +49 (0)30 308 380 99
E-mail: info@magforce.com
Internet: www.magforce.com
ISIN: DE000A0HGQF5
WKN: A0HGQF
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of News DGAP News-Service
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296629 12.11.2014
DGAP-News: MagForce AG: MagForce AG Publishes its Fourth Shareholder Letter 2014
| Source: EQS Group AG