MagForce AG /
MagForce signs distribution agreement with Turkish medical product distribution
company Tek Grup
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* Planned market entry of NanoTherm® therapy in Turkey in 2013; extension to
Iraq, Albania and Azerbaijan to follow
* Tek Grup responsible for market approval in these regions
* Further step for internationalization of NanoTherm® therapy
Berlin, Germany, May 31, 2012 - MagForce AG (Frankfurt, XETRA: MF6), a leading
medical device company in the field of nanomedicine with focus on oncology, and
Tek Grup Inc., a Turkish medical product distribution company, announced today
the signing of an exclusive distribution agreement.
Under the terms of the agreement Tek Grup will exclusively distribute MagForce's
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 will be
extended to other tumor indications upon an equivalent approval of the
NanoTherm® therapy in the EU.
"I am delighted to have entered into the second important distribution agreement
for our technology outside the EU. Tek Grup is an ideal partner to commercialize
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 markets
in Turkey, Iraq, Albania and Azerbaijan. Preliminary feedback from our medical
advisors in oncology therapy has been extremely positive and we are excited to
establish NanoTherm® therapy in those regions", said Mr. Hasan Karagöz, Member
Of Board of Tek Grup.
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(TM) 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 Tek Grup
Tek Grup is a leading company for sales, after sales services and support of
medical devices in Turkey, Iraq, Albania and Azerbaijan where the company is
distributing oncology products, peritoneal and hemodialysis products, laboratory
instruments, disposables and catheters. Tek Grup has established strong
relationships with medical key opinion leaders and with leading hospitals in its
key markets and is supported by counselor oncologists, nephrologists, medical
physics engineers, computer engineers, chemists and biologists. The company
maintains partnerships with renowned medical products manufacturers including
Gambro, Oncotherm, Neurowave, Bbraun.
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.
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.
MC Services AG
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F +49 89 210228-88
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(END) Dow Jones Newswires
May 31, 2012 02:31 ET (06:31 GMT)- - 02 31 AM EDT 05-31-12