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MagForce Nanotechnologies Signs Distribution Agreement With Leading Russian Medical Device Distribution Company DELRUS


5/22/2012 9:19:19 AM

BERLIN--(Marketwire - May 22, 2012) -


* Market entry of NanoTherm® therapy in Russia expected for 2013; extension to number of CIS states to follow

* DELRUS responsible for market approval in these territories

* First step for internationalization of NanoTherm® therapy

MagForce AG (Frankfurt, XETRA: MF6), a leading medical device company in the field of nanomedicine with focus on oncology, and DELRUS Inc., a leading Russian medical device distribution company, announced today the signing of a distribution agreement between the two companies.

Under the terms of the agreement DELRUS will be responsible for marketing MagForce's NanoTherm® therapy in the Russian Federation, Belarus Republic, Republic of Kyrgyzstan, Republic of Kazakhstan, Ukraine, Republic of Tajikistan and Republic of Uzbekistan. DELRUS is also responsible for obtaining marketing authorization of NanoTherm® therapy for the treatment of brain tumors in these countries. The scope of the agreement will be extended to other tumor indications upon an equivalent approval of the NanoTherm® therapy for example in the EU.

"I am delighted to join forces with DELRUS to commercialize our innovative NanoTherm® therapy in Russia and further CIS countries," said Dr Andreas Jordan, Executive Board and Founder of MagForce. "DELRUS is one of the largest and most established distributors for medical devices in Russia and the CIS, working with many renowned medical devices manufacturers including Haemonetics, Terumo, Stryker, Johnson & Johnson, Nihon Kohden, GE and Fresenius Kabi. Their extensive distribution and service network as well as their excellent track record will open up significant opportunities for introducing and supporting the usage of our technology in these markets. In Russia alone it provides us access to about 6,000 brain tumor patients per year."

"DELRUS is committed to bring the most innovative and advanced technologies to the Russian healthcare system. We are convinced that MagForce's technology has great potential to provide "progress in the name of life," said July Magadeev, President of DELRUS. "We look forward to the opportunity to introduce nanomedicine in oncology to the medical market in Russia and further CIS countries and professionally support its usage among oncology specialists and in hospitals."

Within the framework of cooperation, the participation of Russian medical centers is planned for conducting international clinical studies to expand the scope of technology application for the treatment of other forms of cancer.

About MagForce AG

MagForce AG is a leading medical technology company in the field of nanomedicine in oncology. The Company's proprietary, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivator™ 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 select countries. For more information, please visit www.magforce.com.

About DELRUS Inc.

DELRUS, founded in 1991 with currently more than 2500 employees, is an international science and industry holding company maintaining partnership relations with medical device manufacturers in 30 countries. The company, among leaders in the Russian market for medical devices, is active in the supply of medical institutions. DELRUS has regional affiliates in the 80 largest cities of Russia, Belarus, Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbajan, and the Ukraine. For more information please visit www.delrus.com/en.

About NanoTherm® Therapy

The NanoTherm® therapy is a new approach for the local treatment of solid 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 with an aminosilane coating. The particles are activated by a magnetic field that changes its polarity 100,000 times per second and heat is produced. Depending on the duration of treatment and the achieved intratumoral temperatures, the tumor cells are either directly destroyed (thermal ablation) or sensitized for concomitant chemo or radiotherapy (hyperthermia). With this new procedure, it is possible to combat the tumor from the inside out, thereby sparing surrounding 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 countries.

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.

Press release: http://hugin.info/143761/R/1613775/513982.pdf

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: MagForce AG via Thomson Reuters ONE [HUG#1613775]


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MC Services AG

T +49 89 210228-18
F +49 89 210228-88
M +49 151 12 555 759
Email: Email Contact


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