MagForce Nanotechnologies Enters into Preclinical Research Agreement to Investigate Nanotherm(R) Therapy in the Gastrointestinal Cancer Field in the USA

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

MagForce AG / MagForce enters into preclinical research agreement to investigate NanoTherm® therapy in the gastrointestinal cancer field in the USA

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· Goal is to achieve preclinical proof-of-concept in pancreatic and liver Cancer

· First important milestone to set up a clinical development program with Key Opinion Leaders of the Mayo Clinic and throughout the US

· A previous pilot study conducted at the Charité, Berlin, has shown feasibility for NanoTherm® therapy in patients with pancreatic cancer

MagForce AG (Frankfurt, XETRA: MF6), a leading medical device company in the field of nanomedicine with focus on oncology, announced today that the Company has entered into a pre-clinical research agreement with Mayo Clinic (Rochester, MN), a leading US medical center.

Under the terms of the agreement, Mayo Clinic will start a research program applying MagForce’s NanoTherm® therapy to investigate the preclinical efficacy of the therapy in pancreatic and liver cancer. The project will be directed by Dev Mukhopadhyay, Professor of Biochemistry/Molecular Biology, and the study will be funded by Mayo Clinic. The goal of the project is to achieve preclinical proof-of-concept in order to file the clinical development program supporting the FDA PMA (FDA premarket approval) of the NanoTherm® therapy in these indications.

“Pancreatic cancer is one of the most aggressive diseases in oncology, ranking fourth among the tumor related causes of death. It is mostly recognized in a late and advanced status and consequently called “the silent killer”. Due to the poor overall survival rates and the severe side effects of chemotherapeutics, the current standard of care, this disease is an enormous challenge in oncology. With approximately 32,000 new cases annually in the US alone there is a very high medical need to develop new therapeutic options for the treatment of these desperate patients,” said Prof Dr Hoda Tawfik, Vice President R&D/Medical Affairs at MagForce. “In a pilot study MagForce could show the feasibility of the use of its NanoTherm® therapy in pancreatic cancer patients with first hints of activity. I am delighted that we are now teaming up with the highly prestigious cancer center Mayo Clinic to achieve preclinical proof-of-concept in pancreatic and liver cancer with our innovative technology. A positive outcome of this new project would be the first important milestone to set up a clinical development program in gastrointestinal cancer in cooperation with medical key opinion leaders throughout the United States,” added Prof Dr Hoda Tawfik.

This research agreement is a significant step in engaging the US medical community in the development of the NanoTherm® Therapy,” added Dr Andreas Jordan, Executive Board and Founder of MagForce.

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 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.

MagForce_Press Release_Mayo Clinic_June 22, 2012: http://hugin.info/143761/R/1621460/518166.pdf

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Source: MagForce AG via Thomson Reuters ONE [HUG#1621460]