DGAP-News: MagForce AG / Key word(s): Miscellaneous
MagForce AG Publishes its First Shareholder Letter 2016
17.03.2016 / 08:30
The issuer is solely responsible for the content of this announcement.
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MagForce AG Publishes its First Shareholder Letter 2016
Berlin, Germany, and Nevada, USA, March 17, 2016 - 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 2016:
"Dear MagForce Shareholders,
The year 2015 was a very active and productive year for MagForce AG and
MagForce USA. During 2015, MagForce AG installed three additional
NanoActivators(R) in Germany and qualified two of these NanoActivator(R)
devices for treatment of brain tumors.
We begin 2016 with six operational NanoActivator(R) clinics in Germany
participating in our Post Marketing Study. Four of these NanoActivator(R)
clinics are also providing the NanoTherm(TM) treatment of brain tumors to
commercial patients. However, our commercial treatment rate was slow in
2015.
Since we had sufficient installations in place during the back half of
2015, we have expanded our Commercial Patient Program with the recruitment
of an experienced commercial development team with the primary focus on
countries near Germany.
With the initiation of our new Commercial Patient Program and the expansion
of our website to offer patient information in seven languages, our patient
inquiries per month have significantly increased but are still at about 30%
of our monthly target for 2016. As we continue to implement our commercial
marketing plans, we expect the inquiry gap to close.
During 2016, MagForce AG expects to advance the reimbursement status for
the NanoTherm(TM) therapy for the treatment of brain tumors (both primary
and recurrent brain tumors), beyond the single case, charity funding and
self-pay used in 2015.
In summary, MagForce AG has successfully moved into the commercial phase of
its development and we are optimistic that we can achieve the next level of
success with this very valuable therapy for the treatment of Brain Tumors.
MagForce USA has also made significant progress toward adapting
NanoTherm(TM) therapy as a focal treatment for prostate cancer. Our
NanoTherm(TM) therapy for the focal treatment of prostate cancer is viewed
as a very promising complement to current treatment approaches. MagForce
USA, Inc. has filed an Investigational Device Exemption (IDE) with the USA
Food and Drug Administration (FDA).
The purpose of the proposed registration study that will enroll up to 120
men is to demonstrate that NanoTherm(TM) can ablate cancer lesions for
patients who have Gleason Score 7 prostate cancer and are under active
surveillance. By ablating the lesions, patients will be able to maintain
active surveillance and avoid surgery and other treatments all with
well-known side effects like impairment of urinary and sexual functions.
This is indeed a significant milestone for MagForce USA, Inc. and MagForce
AG. Men enrolled in active surveillance programs could potentially benefit
from this focal therapy after registration in the USA. We believe the
registration clinical trial will prove that NanoTherm(TM) therapy can
fulfill the desired outcome. We are working with the FDA to advance the IDE
approval and in parallel, are developing the clinical treatment sites. The
first clinical treatment site is operational and will be used in the
short-term to provide, as needed, the required preclinical study data.
Investor Relations
In the first half of 2015 we presented at: Morgan Stanley European MedTech
& Services Conference in London, 27th Annual ROTH Conference in Dana Point,
USA, Bank of America Merrill Lynch 2015 Health Care Conference in Las
Vegas, Berenberg European Conference USA in Tarrytown, as well as 19th MKK
- Munich Capital Market Conference and Deutsche Bank dbAccess German, Swiss
& Austrian Conference 2015 in Berlin in Germany. We have also conducted
roadshows in Paris, Frankfurt, London, Vienna and Munich.
In September, we presented at Berenberg & Goldman Sachs European Medtech &
Healthcare Services Conference 2015 in London, as well as, Berenberg &
Goldman Sachs Fourth Annual German Corporate Conference in Munich. In
November, we presented at the German Equity Forum in Frankfurt.
We, at MagForce, are very excited to announce the expansion of our In-House
Investor Relations Team focused on serving our Investors. As of March, long
time Investor Relations professional, Barbara von Frankenberg, joined our
team as Vice President Communications & Investor Relations. She will be
your contact for Investor Relations related questions. Please contact her
in German or English at bfrankenberg@magforce.com or by phone (+49 30 30 83
80 0) or in the USA at (001) 657-261-3212.
In summary, we are successfully moving forward on our exciting and
challenging path to develop NanoTherm(TM) therapy into a valued therapy for
the treatments of brain cancer and prostate cancer. The year 2016 continues
to be a very important, challenging but another exciting year for
MagForce's development.
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 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, NanoPlan, and
NanoActivator 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:
Barbara von Frankenberg
Vice President
Communications & Investor Relations
T +49-30-308380-77
E-Mail: bfrankenberg@magforce.com
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service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: MagForce AG
Max-Planck-Straße 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: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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446117 17.03.2016
DGAP-News: MagForce AG Publishes its First Shareholder Letter 2016
| Source: EQS Group AG