MagForce starts research project with University of Bremen
January 31, 2013 - Berlin, Germany
MagForce AG /MagForce starts research project with University of Bremen. Processed and transmitted by Thomson Reuters ONE.The issuer is solely responsible for the content of this announcement.
* Project to develop magnetic iron oxide particles with improvedefficiency
* Agreement on funding by German Federal Ministry of Economics andTechnology from the German Mittelstand innovation program "ZentralesInnovationsprogramm Mittelstand (ZIM)"
MagForce AG (Frankfurt, XETRA: MF6), aleading medical technology company in the field of nanomedicine inoncology,today announced the start of a research project with the University ofBremen,Center for Environmental Research and Sustainable Technology, for thedevelopment of magnetic iron oxid particles with improved efficiency. Thenovelparticles will allow a more efficient treatment of abdominal cancers, suchasprostate and pancreatic cancer. A more efficient magnetic fluid and a pilotmanufacturing facility will result from the collaboration.
The project will receive funding from the German Mittelstand InnovationProgram(ZIM) which is managed by the German Federal Ministry of Economics andTechnology and will run for two years.
"We are excited to be working with Prof Dr Jorg Thöming,who is aninternationally renowned expert in the area of process engineering,as acooperation partner. This project is perfectly in-line withMagForce's newstrategy to conduct early-stage research and development collaborationswithacademic institutions", commented Prof Dr Hoda Tawfik, COO and co-CEO ofMagForce AG. "In August 2012, we temporarily put all internal early-stageresearch and development on hold to focus the Company'sresources onestablishing our NanoTherm® therapy in the market. This projectgives us theopportunity to develop the next generation of NanoTherm® that willsignificantlyimprove the treatment of abdominal cancers." Prof Dr Jorg Thömingcomments: "Iam excited to start the collaboration in the nanotechnology area withMagForce,an innovative nanomedicine company. The exploitation of synergiesbetween ourscientists is very promising."
About MagForce AG
MagForce AG is a leading medical technology company in the field ofnanomedicinein oncology. The Company's proprietary, NanoTherm® therapy, enablesthe targetedtreatment of solid tumors through the intratumoral generation ofheat viaactivation of magnetic nanoparticles. NanoTherm®,NanoPlan®, andNanoActivator are components of the therapy and have receivedEU-wideregulatory approval as medical devices for the treatment of braintumors.MagForce, NanoTherm®, NanoPlan®, and NanoActivator aretrademarks ofMagForce AG in select countries. For more information, pleasevisitwww.magforce.com.
This release may contain forward-looking statements and information whichmay beidentified by formulations using terms such as "expects", "aims","anticipates","intends", "plans", "believes", "seeks", "estimates" or "will". Suchforward-looking statements are based on our current expectations andcertainassumptions, which may be subject to a variety of risks anduncertainties. Theresults actually achieved by MagForce AG may substantially differ fromtheseforward-looking statements. MagForce AG assumes no obligation to updatetheseforward-looking statements or to correct them in case of developments,whichdiffer from those, anticipated.
MagForce_Press Release_Jan 31, 2013:http://hugin.info/143761/R/1674480/545259.pdf
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Source: MagForce AG via Thomson Reuters ONE[HUG#1674480]
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