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Nanostart (OTCQX: NASRY)-holding MagForce AG (FSE:MF6), a leading medical technology company focusing on nanomedicine in oncology, announced today the resignation of Prof. Dr. Walter Rust as chairman of the Supervisory Board as of October 25, 2011 due to health reasons. Effective October 28, 2011, Dr. Peter Heinrich stepped down from his position as MagForce CEO and is expected, at a future date, to return to his previous role as a member of the MagForce Supervisory Board. Until further appointments are confirmed, Dr. Andreas Jordan will represent the Management Board with the support of Prof. Dr. Hoda Tawfik, VP Clinical Development & Medical Affairs, and Solveig Salomon, VP Marketing & Sales.
Dr. Peter Heinrich said, "When I assumed the position of Magforce CEO, my primary goal was to build professional structures within the company by putting together a team of highly qualified and motivated individuals. This goal has been achieved along with the approval and launch of NanoTherm therapy in the EU and treatment of the first patient with the novel therapy. I would now like to step back from daily operational activities and, in the future, further support the company's growth and development as a member of the Supervisory Board."
About Nanostart AG
Nanostart AG (OTCQX: NASRY), headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government.
MagForce AG is a leading medical technology company focusing on nanomedicine in oncology. The company’s proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivator™ 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 selected countries. For further information please visit: www.magforce.com
About NanoTherm® therapy:
NanoTherm® therapy involves the direct injection of magnetic nanoparticles into the tumor and their subsequent heating by an alternating magnetic field. The water-soluble nanoparticles are approximately 15 nanometers in diameter and contain an iron oxide core with an aminosaline coating, which causes the particles to agglomerate following injection. The particles are then activated by a magnetic field that changes its polarity 100,000 times per second, and heat is produced within the tumor. Depending on the temperature reached and length of treatment, the tumor cells are either directly destroyed or sensitized for the accompanying chemotherapy or radiation.
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 Canada, Australia or Japan.
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Dr. Hans Joachim Duerr
Head of Corporate Communications
D-60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
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