BERLIN, GERMANY--(Marketwire - May 31, 2012) - MagForce AG /
MagForce signs distribution agreement with Turkish medical product
company Tek Grup
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* Planned market entry of NanoTherm® therapy in Turkey in 2013;
Iraq, Albania and Azerbaijan to follow
* Tek Grup responsible for market approval in these regions
* Further step for internationalization of NanoTherm® therapy
MagForce AG (Frankfurt, XETRA: MF6), a leading
medical device company in the field of nanomedicine with focus on
Tek Grup Inc., a Turkish medical product distribution company, announced
the signing of an exclusive distribution agreement.
Under the terms of the agreement Tek Grup will exclusively distribute
NanoTherm® therapy in Turkey, Albania, Iraq and Azerbaijan. Tek
Grup is also
responsible for obtaining marketing authorization of NanoTherm®
therapy for the
treatment of brain tumors in these regions. The scope of the agreement
extended to other tumor indications upon an equivalent approval of
NanoTherm® therapy in the EU.
"I am delighted to have entered into the second important distribution
for our technology outside the EU. Tek Grup is an ideal partner to
our innovative NanoTherm® therapy in Turkey and further
countries," said Dr
Andreas Jordan, Executive Board and Founder of MagForce.
"We see great potential for MagForce's innovative technology in our key
in Turkey, Iraq, Albania and Azerbaijan. Preliminary feedback from our
advisors in oncology therapy has been extremely positive and we are
establish NanoTherm® therapy in those regions", said Mr. Hasan
Of Board of Tek Grup.
About MagForce AG
MagForce AG is a leading medical technology company in the field of
in oncology. The Company's proprietary, NanoTherm® therapy, enables
treatment of solid tumors through the intratumoral generation of
activation of magnetic nanoparticles. NanoTherm®,
NanoActivator™ are components of the therapy and have received
regulatory approval as medical devices for the treatment of brain
MagForce, NanoTherm, NanoPlan, and NanoActivator are trademarks of
in select countries. For more information, please visit www.magforce.com.
About Tek Grup
Tek Grup is a leading company for sales, after sales services and
medical devices in Turkey, Iraq, Albania and Azerbaijan where the
distributing oncology products, peritoneal and hemodialysis products,
instruments, disposables and catheters. Tek Grup has established
relationships with medical key opinion leaders and with leading hospitals
key markets and is supported by counselor oncologists, nephrologists,
physics engineers, computer engineers, chemists and biologists. The
maintains partnerships with renowned medical products manufacturers
Gambro, Oncotherm, Neurowave, Bbraun.
About NanoTherm® Therapy
The NanoTherm® therapy is a new approach for the local treatment of
tumors. The principle of the method is the direct introduction of magnetic
nanoparticles into a tumor and their subsequent heating in an alternating
magnetic field. The water soluble nanoparticles are extremely small
(approximately 15 nanometers in diameter), and contain an iron oxide core
an aminosilane coating. The particles are activated by a magnetic field
changes its polarity 100,000 times per second and heat is produced.
the duration of treatment and the achieved intratumoral temperatures, the
cells are either directly destroyed (thermal ablation) or sensitized for
concomitant chemo or radiotherapy (hyperthermia). With this new procedure,
possible to combat the tumor from the inside out, thereby sparing
healthy tissue. The nanoparticles remain in place at the treatment area,
allowing for repeat treatments and the integration of multimodal therapy
concepts. NanoTherm® therapy has regulatory approval in 27 European
This release may contain forward-looking statements and information which
identified by formulations using terms such as "expects", "aims",
"intends", "plans", "believes", "seeks", "estimates" or "will". Such
forward-looking statements are based on our current expectations
assumptions, which may be subject to a variety of risks and
results actually achieved by MagForce AG may substantially differ from
forward-looking statements. MagForce AG assumes no obligation to update
forward-looking statements or to correct them in case of developments,
differ from those, anticipated.
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Source: MagForce AG via Thomson Reuters ONE