Project to develop magnetic iron oxide particles with improved efficiency Agreement on funding by German Federal Ministry of Economics and Technology from the German Mittelstand innovation program "Zentrales Innovationsprogramm Mittelstand (ZIM)"
Berlin, Germany, January 31, 2013 - MagForce AG (Frankfurt, XETRA: MF6), a leading medical technology company in the field of nanomedicine in oncology, today announced the start of a research project with the University of Bremen, Center for Environmental Research and Sustainable Technology, for the development of magnetic iron oxid particles with improved efficiency. The novel particles will allow a more efficient treatment of abdominal cancers, such as 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 Program (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 Thming, who is an internationally renowned expert in the area of process engineering, as a cooperation partner. This project is perfectly in-line with MagForce`s new strategy to conduct early-stage research and development collaborations with academic institutions", commented Prof Dr Hoda Tawfik, COO and co-CEO of MagForce AG. "In August 2012, we temporarily put all internal early-stage research and development on hold to focus the Company`s resources on establishing our NanoTherm therapy in the market. This project gives us the opportunity to develop the next generation of NanoTherm that will significantly improve the treatment of abdominal cancers." Prof Dr Jorg Thming comments: "I am excited to start the collaboration in the nanotechnology area with MagForce, an innovative nanomedicine company. The exploitation of synergies between our scientists is very promising."
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(TM) are trademarks of MagForce AG in select countries. For more information, please visit http://www.magforce.com.
Disclaimer
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MagForce starts research project with University of Bremen