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- Planned market entry of NanoTherm therapy in Turkey in 2013; extension to Iraq, Albania and Azerbaijan to follow
- Tek Grup responsible for market approval in these regions
- Further 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 Tek Grup Inc., a Turkish medical product distribution company, announced today the signing of an exclusive distribution agreement.
Under the terms of the agreement Tek Grup will exclusively distribute MagForce's NanoTherm therapy in Turkey, Albania, Iraq and Azerbaijan. Tek Grup is also responsible for obtaining marketing authorization of NanoTherm therapy for the treatment of brain tumors in these regions. The scope of the agreement will be extended to other tumor indications upon an equivalent approval of the NanoTherm therapy in the EU.
"I am delighted to have entered into the second important distribution agreement for our technology outside the EU. Tek Grup is an ideal partner to commercialize our innovative NanoTherm® therapy in Turkey and further countries," said Dr Andreas Jordan, Executive Board and Founder of MagForce.
"We see great potential for MagForce's innovative technology in our key markets in Turkey, Iraq, Albania and Azerbaijan. Preliminary feedback from our medical advisors in oncology therapy has been extremely positive and we are excited to establish NanoTherm therapy in those regions", said Mr. Hasan Karagöz, Member Of Board of Tek Grup.
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.
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 NanoTherm® therapy:
The NanoTherm® therapy is a new approach for the local treatment of solid tumors. The principle of the method is the direct introduction of magnetic nanoparticles into a tumor and their subsequent heating in an alternating magnetic field. The water soluble nanoparticles are extremely small (approximately 15 nanometers in diameter), and contain an iron oxide core with an aminosilane coating. The particles are activated by a magnetic field that changes its polarity 100,000 times per second and heat is produced. Depending on the duration of treatment and the achieved intratumoral temperatures, the tumor cells are either directly destroyed (thermal ablation) or sensitized for concomitant chemo or radiotherapy (hyperthermia). With this new procedure, it is possible to combat the tumor from the inside out, thereby sparing surrounding healthy tissue. The nanoparticles remain in place at the treatment area, allowing for repeat treatments and the integration of multimodal therapy concepts. NanoTherm® therapy has regulatory approval in 27 European countries.
About Tek Grup:
Tek Grup is a leading company for sales, after sales services and support of medical devices in Turkey, Iraq, Albania and Azerbaijan where the company is distributing oncology products, peritoneal and hemodialysis products, laboratory instruments, disposables and catheters. Tek Grup has established strong relationships with medical key opinion leaders and with leading hospitals in its key markets and is supported by counselor oncologists, nephrologists, medical physics engineers, computer engineers, chemists and biologists. The company maintains partnerships with renowned medical products manufacturers including Gambro, Oncotherm, Neurowave, Bbraun.
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.
For more information, please click here
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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