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MagForce Nanotechnologies Successfully Completes Capital Increase


2/29/2012 9:16:56 AM

BERLIN, GERMANY--(Marketwire - February 29, 2012) -

MagForce AG /

MagForce AG Successfully Completes Capital Increase

Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Announcement in accordance with section 17 para. 2 of the General Terms and Conditions of Deutsche Börse AG for the Regulated Unofficial Market on the Frankfurt Stock Exchange

Berlin, February 29, 2012 - MagForce AG (Frankfurt, XETRA: MF6), a leading medical technology company focusing on nanomedicine in oncology has completed a share placement with institutional investors. All of the 825,408 newly issued shares were placed, with profit participation rights dating from January 1, 2011, at a price of EUR 5.50 per share. The gross proceeds from the capital increase, in the amount of EUR 4,539,744.00 will be used for further commercialization activities and the clinical development of the NanoTherm® technology along with the expansion of commercial and strategic partnerships.

This transaction increases the nominal share capital of the company, from EUR 4.127.041, divided into 4,127,041 shares with an imputed nominal value of EUR 1.00, to EUR 4,952,495.00.

The very successful capital increase and the meetings with the strategic investors were managed by Silvia Quandt & Cie. AG as a tied agent as defined in § 2 paragraph 10 of the Banking Act (KWG) and called on account of biw Bank for Investments & Securities Ltd.

About MagForce AG:

MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company's proprietary procedure, 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 selected countries. For more information, please visit www.magforce.com.

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.

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#1589846]


Contact:
Stacy Wiedenmann
Director Investor Relations & Corporate Communications
Magforce AG
Max-Dohrn-Str. 8 10589 Berlin
T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email: Email Contact


Read at BioSpace.com

   

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