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- Market entry of NanoTherm therapy in Russia expected for 2013; extension to number of CIS states to follow
- DELRUS responsible for market approval in these territories
- First step for internationalization of NanoTherm therapy
Nanostart (OTCQX: NASRY) -holding MagForce AG (Frankfurt, XETRA: MF6), a leading medical device company in the field of nanomedicine with focus on oncology, and DELRUS Inc., a leading Russian medical device distribution company, announced today the signing of a distribution agreement between the two companies.
Under the terms of the agreement DELRUS will be responsible for marketing MagForce's NanoTherm therapy in the Russian Federation, Belarus Republic, Republic of Kyrgyzstan, Republic of Kazakhstan, Ukraine, Republic of Tajikistan and Republic of Uzbekistan. DELRUS is also responsible for obtaining marketing authorization of NanoTherm therapy for the treatment of brain tumors in these countries. The scope of the agreement will be extended to other tumor indications upon an equivalent approval of the NanoTherm therapy for example in the EU.
"I am delighted to join forces with DELRUS to commercialize our innovative NanoTherm therapy in Russia and further CIS countries," said Dr Andreas Jordan, Executive Board and Founder of MagForce. "DELRUS is one of the largest and most established distributors for medical devices in Russia and the CIS, working with many renowned medical devices manufacturers including Haemonetics, Terumo, Stryker, Johnson & Johnson, Nihon Kohden, GE and Fresenius Kabi. Their extensive distribution and service network as well as their excellent track record will open up significant opportunities for introducing and supporting the usage of our technology in these markets. In Russia alone it provides us access to about 6,000 brain tumor patients per year."
"DELRUS is committed to bring the most innovative and advanced technologies to the Russian healthcare system. We are convinced that MagForce's technology has great potential to provide "progress in the name of life," said July Magadeev, President of DELRUS. "We look forward to the opportunity to introduce nanomedicine in oncology to the medical market in Russia and further CIS countries and professionally support its usage among oncology specialists and in hospitals."
Within the framework of cooperation, the participation of Russian medical centers is planned for conducting international clinical studies to expand the scope of technology application for the treatment of other forms of cancer.
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. As main shareholder of Nanostart Asia Pacific Ptd Ltd, Nanostart invests as partner of the Singaporean government.
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™ 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 select countries. For more information, please visit www.magforce.com.
About DELRUS Inc.
DELRUS, founded in 1991 with currently more than 2500 employees, is an international science and industry holding company maintaining partnership relations with medical device manufacturers in 30 countries. The company, among leaders in the Russian market for medical devices, is active in the supply of medical institutions. DELRUS has regional affiliates in the 80 largest cities of Russia, Belarus, Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbajan, and the Ukraine. For more information please visit www.delrus.com/en.
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
60313 Frankfurt, Germany
phone: +49 (0)69-21 93 96 111
fax: +49 (0)69-21 93 96 150
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