Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Nanostart-holding MagForce: US investment fund commits EUR 20 million equity

Abstract:
* Transformation into truly international commercial enterprise
* Flexible access to up to EUR 20 million equity capital over the next 36 months
* Purchase price of newly issued shares determined by market price of MagForce's stock

Nanostart-holding MagForce: US investment fund commits EUR 20 million equity

Frankfurt / Berlin | Posted on May 4th, 2010

MagForce Nanotechnologies AG has signed a Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd. ("YA Global"), an investment fund managed by Yorkville Advisors. Under this agreement, MagForce now has the option over the next 36 months to avail itself of a binding commitment by YA Global to subscribe to and purchase multiple tranches of newly issued shares from the company's approved capital up to a total amount of EUR 20 million. MagForce will retain complete discretion over if and when it makes use of its rights over the life of the option.

Under the terms of the agreement, MagForce may offer these tranches from time-to-time, pursuant to the terms of the agreement. The purchase price of newly issued shares shall be determined by a formula based on the market price of MagForce's stock. The commitment provides MagForce with flexible access to additional equity capital of up to EUR 20 million, thus ensuring that the company retains a sound basis of financial comfort as it enters the rapidly approaching commercialization phase and further expands its R&D pipeline.

"The signing of this agreement with YA Global will better enable MagForce to proceed with two very important investments," explained Dr. Peter Heinrich, CEO of MagForce Nanotechnologies AG. "Firstly, it will provide us with additional resources for the European market launch of Nano-Cancer therapy for the first indication expected to receive European regulatory approval, which is glioblastoma multiforme. Secondly, it will allow us to expand our clinical investigations to encompass even more kinds of solid tumors. With this additional capital now available, we will be able to accelerate our transformation from an essentially German R&D venture financed with German capital into a truly international commercial enterprise."

"We are extremely pleased to be able to announce our investment in MagForce" said Dr. Michael J. Nowak, head of healthcare and managing director at Yorkville Advisors. MagForce is currently moving forward with the planned market launch of its first product in what is perhaps the most interesting phase of company development. Dr. Nowak added, "The innovative structure of our investment commitment, with its combination of both flexibility and financial security, is an ideal arrangement for the company at this stage."

Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.

####

About Nanostart AG
Nanostart AG is the worlds leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.

About MagForce Nanotechnologies AG
MagForce Nanotechnologies AG is the worlds leading company in the area of nanotechnology-based cancer treatment. Its patented therapy allows the targeted destruction of tumors using magnetic nanoparticles. MagForces nanotechnology represents a revolutionary approach to the future successful treatment of solid tumors. For more information, please visit www.magforce.com.

For more information, please click here

Contacts:
Media contact:
Nanostart AG
Public Relations
Dr. Hans Joachim Drr
Goethestrasse 26-28
D-60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 122

Copyright © Nanostart AG

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

INVECAS to Enable ASIC Designs for Tomorrows Intelligent Systems on GLOBALFOUNDRIES' FDX Technology: INVECAS to Collaborate with GLOBALFOUNDRIES to Provide IP and End-to-End ASIC Design Services on 22FDX and 12FDX Technologies September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Innovation in Nanotechnology is Focus of Symposium: Annual event brings international experts to Northwestern Oct. 6 September 29th, 2016

Govt.-Legislation/Regulation/Funding/Policy

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Crystalline Fault Lines Provide Pathway for Solar Cell Current: New tomographic AFM imaging technique reveals that microstructural defects, generally thought to be detrimental, actually improve conductivity in cadmium telluride solar cells September 26th, 2016

Tattoo therapy could ease chronic disease: Rice-made nanoparticles tested at Baylor College of Medicine may help control autoimmune diseases September 23rd, 2016

PHENOMEN is a FET-Open Research Project aiming to lay the foundations a new information technology September 19th, 2016

Investments/IPO's/Splits

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

Nanotech Grants Options September 22nd, 2016

Arrowhead Pharmaceuticals to Present at Upcoming September Conferences September 1st, 2016

Industrial Nanotech, Inc. Provides Shareholder Update August 22nd, 2016

Nanomedicine

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Nanosensors could help determine tumors ability to remodel tissue: Measuring enzyme levels could help doctors select appropriate treatments September 29th, 2016

Fighting cancer with sticky nanoparticles September 27th, 2016

Announcements

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

INVECAS to Enable ASIC Designs for Tomorrows Intelligent Systems on GLOBALFOUNDRIES' FDX Technology: INVECAS to Collaborate with GLOBALFOUNDRIES to Provide IP and End-to-End ASIC Design Services on 22FDX and 12FDX Technologies September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Innovation in Nanotechnology is Focus of Symposium: Annual event brings international experts to Northwestern Oct. 6 September 29th, 2016

Nanobiotechnology

Harris & Harris Group Notes Announcements by Its Portfolio Companies During the Third Quarter of 2016 September 30th, 2016

How to power up graphene implants without frying cells: New analysis finds way to safely conduct heat from graphene to biological tissues September 30th, 2016

Nanosensors could help determine tumors ability to remodel tissue: Measuring enzyme levels could help doctors select appropriate treatments September 29th, 2016

Fighting cancer with sticky nanoparticles September 27th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic