BERLIN, GERMANY--(Marketwire - January 31, 2013) -
MagForce AG /
MagForce starts research project with University of Bremen
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* Project to develop magnetic iron oxide particles with improved
* Agreement on funding by German Federal Ministry of Economics and
Technology from the German Mittelstand innovation program "Zentrales
Innovationsprogramm Mittelstand (ZIM)"
MagForce AG (Frankfurt, XETRA: MF6), a
leading medical technology company in the field of nanomedicine in
today announced the start of a research project with the University of
Center for Environmental Research and Sustainable Technology, for the
development of magnetic iron oxid particles with improved efficiency. The
particles will allow a more efficient treatment of abdominal cancers, such
prostate and pancreatic cancer. A more efficient magnetic fluid and a pilot
manufacturing facility will result from the collaboration.
The project will receive funding from the German Mittelstand Innovation
(ZIM) which is managed by the German Federal Ministry of Economics and
Technology and will run for two years.
"We are excited to be working with Prof Dr Jorg Thöming,
who is an
internationally renowned expert in the area of process engineering,
cooperation partner. This project is perfectly in-line with
strategy to conduct early-stage research and development collaborations
academic institutions", commented Prof Dr Hoda Tawfik, COO and co-
MagForce AG. "In August 2012, we temporarily put all internal early-
research and development on hold to focus the Company's
establishing our NanoTherm® therapy in the market. This project
gives us the
opportunity to develop the next generation of NanoTherm® that will
improve the treatment of abdominal cancers." Prof Dr Jorg Thöming
am excited to start the collaboration in the nanotechnology area with
an innovative nanomedicine company. The exploitation of synergies
scientists is very promising."
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
MagForce AG in select countries. For more information, please
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
looking statements are based on our current expectations and
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.
MagForce_Press Release_Jan 31, 2013:
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Source: MagForce AG via Thomson Reuters ONE