2013-03-20 08:23:57 -
MagForce AG /
MagForce successfully implements capital increase
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* MagForce successfully completes capital increase in the total amount of
* New funding secures financing of post-marketing trial of the NanoTherm®
therapy in glioblastoma and FDA filing
* Next cancer indication in clinical development will be prostate cancer
Berlin, Germany, March 20, 2013 - MagForce AG (Frankfurt, XETRA: MF6), a leading
medical device company in the field of nanomedicine with focus on oncology,
today anounced that it has successfully completed a capital increase against
non-cash contributions including preemptive rights in the total amount
of €33.5 million. In total, 18,606,553 new no-par value bearer shares have been
subscribed. Thereof 9,750,846 new shares have been subscribed against cash and
8,855,707 new shares have been subscribed against a contribution in kind, namely
converting €15.9 million shareholder loans into equity. As a result, MagForce is
debt-free and has €17.6 million cash on hand to drive the company through the
next inflection points.
Prof. Hoda Tawfik, COO and co-CEO of MagForce AG, commented: "With this capital
increase, Magforce is entering a new phase. With the successful capital increase
we have set the preconditions for establishing the NanoTherm® Therapy in the
medical community and for achieving the validation of the clinical data in
Europe as well as for approaching filing for approval in the USA with the FDA.
This will be achieved substantially via the anounced post-marketing clinical
trial with glioblastoma patients. Additionally, we will further develop the
NanoTherm® Therapy in other oncology indications e.g. prostate cancer, the
second most frequently diagnosed cancer of men and the fifth most common cancer
overall." Christian von Volkmann, CFO and co-CEO of MagForce AG, added: "The
successful capital increase with considerable size shows the trust and
confidence international institutional investors put into the MagForce
technology and the MagForce team. The company now has secured sufficient funding
from renowned international investors to reach the next inflection points and is
well prepared for a time of dynamic growth."
About MagForce AG
MagForce AG is a leading medical device company in the field of nanomedicine
with the focus on oncology. The Company's proprietary, NanoTherm® Therapy,
enables the local 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
This release may contain forward-looking statements and information which may be
identified by formulations using terms such as "expects", "aims",
"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 release is no offer to buy shares.
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MagForce_Press Release_Mar 20, 2013:
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