DGAP-News: MagForce AG / Key word(s): Miscellaneous
MagForce AG: MagForce AG Publishes its First Shareholder Letter 2015
05.02.2015 / 12:20
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MagForce AG Publishes its First Shareholder Letter 2015
Berlin, Germany, and Nevada, USA, February 05, 2015 - 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 first Shareholder Letter 2015:
"Dear MagForce Shareholders,
I am pleased to report that we accomplished our targets in 2014 and had a
successful start into 2015.
Financials - EUR 10.2 million raised by MagForce AG end of 2014 helping to
unveil the full potential of its technology: In November 2014, MagForce AG
successfully completed a capital increase by placing 1,700,000 new shares
at EUR 6.00 per share against cash contribution with qualified investors
raising proceeds in the amount of EUR 10.2 million. The proceeds shall be
utilized to accelerate the commercialization of NanoTherm(TM) Therapy
outside of North America, especially in Europe, where MagForce AG already
has European regulatory approval for the treatment of Brain Tumors, and to
broaden the product portfolio with further development of next generation
nanoparticles. The successful capital increase shows the continued trust
and confidence international institutional investors put into the MagForce
technology and our team.
Installation of additional NanoActivator(R) devices in Germany to treat
Glioblastoma: The installation process of NanoActivator(R) devices in the
world class hospitals in Frankfurt and Cologne in Germany has started and
will be completed during the first quarter. We are also assembling another
activator for installation in Göttingen in the second quarter. Together
with the already set up NanoActivator(R) devices in Muenster, Berlin and
Kiel, by mid-2015 we will therefore have six devices operational in Germany
and additional centers trained to perform the surgery and the instillation
of the nanoparticles, giving us sufficient capacity to complete enrollment
in our Post Marketing Glioblastoma Study and accomplish our commercial
treatment targets through 2017.
With respect to our expansion phase outside Germany, we continue preparing
our registration path for the USA.
Brain Cancer Therapy - US commercial patient treated in Germany: MagForce
also restarted the treatment of Brain Tumor patients outside clinical
studies. In the department of Neurosurgery at Muenster University Hospital,
Germany, headed by Prof Dr Walter Stummer, the treatment in the commercial
setting was initiated, for the first time with a US patient who traveled to
Germany especially to benefit from the NanoTherm(TM) therapy approach. Dr
Johannes Woelfer, deputy medical director of the department, successfully
performed the surgery and the instillation of the nanoparticles for the
patient. The treatment is ongoing according to schedule and represents the
first step leading to the expected significant increase in commercial
treatments with our NanoTherm(TM) therapy in 2015.
Prostate Cancer Therapy - in-person meeting successfully held with the FDA:
Regarding the application of our NanoTherm(TM) therapy for the focal
treatment of Prostate Cancer, our unique technology is viewed as a very
promising complement to current treatment approaches. In January 2015 an
in-person meeting was held with the U.S. Food and Drug Administration's
(FDA) Center for Devices and Radiological Health to discuss FDA's response
to our NanoTherm(TM) Prostate Cancer Therapy Pre-Submission of November
2014. We received very constructive feedback on our submission and have an
understanding of the pathway to market in the USA of our therapy to focally
ablate prostate cancer. MagForce USA, Inc. will accelerate the Prostate
Cancer Investigational Device Exemption (IDE) to utilize the MFH 300F
NanoActivator(R) for both Glioblastoma and Prostate NanoTherm(TM) Therapy
registration.
Investor Relations: In October, in addition to Berenberg & Edison, Hauck &
Aufhäuser initiated research coverage with a buy recommendation and a price
target of EUR 12.40. In 2015, we will present at approximately 10 equity
conferences.
Dear Shareholders, in summary, we are successfully moving forward on our
exciting path to develop NanoTherm(TM) therapy into a globally valued
therapy for the treatments of Glioblastoma and Prostate Cancer. 2015 is the
year of commercial revenues and will therefore mark a very important
milestone in MagForce's corporate history.
I would like to thank our talented and dedicated staff who are creating the
successes. Again, thank you for your interest and support of MagForce.
Sincerely,
Dr. Ben Lipps
Chief Executive Officer &
Chairman of the Management Board"
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.
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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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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DGAP-News: MagForce AG: MagForce AG Publishes its First Shareholder Letter 2015
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