MagForce successfully implements capital increase

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
    €33.5 million
  * 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
cash  and 
  
    
      
        

	    
  
  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
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 release is no offer to buy shares.

Contact:

Anne Hennecke
MC Services AG

T +49 89 210228-18
F +49 89 210228-88
M +49 151 12 555 759

Email: anne.hennecke@mc-services.eu

MagForce_Press Release_Mar 20, 2013: 
 hugin.info/143761/R/1686581/552955.pdf



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