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MagForce Nanotechnologies AG : Signs Letter of Intent with Leading Russian Medical Product Distribution Company Delrus

12/14/2011 | 05:50am US/Eastern

MagForce AG / MagForce Signs Letter of Intent with Leading Russian Medical Product Distribution Company Delrus . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

  • Plans outlined for NanoTherm® therapy market entry in Russia
  • Financial and professional support for approval in Russia
  • First step for internationalization of NanoTherm® therapy

Berlin, December 14, 2011 - MagForce AG (XETRA:MF6), a leading medical technology company focusing on nanomedicine in oncology and Delrus Inc., a leading Russian medical product distribution company, announced today the signing of a Letter of Intent (LOI) between the two companies.  The LOI outlines a collaboration focusing on an exclusive distribution agreement for NanoTherm® therapy in the Russian Federation and Kazakhstan.  The LOI includes Delrus' financial and professional support for the regulatory approval of NanoTherm® therapy in brain tumors and other indications in Russia, including pancreatic and prostate cancer.

Delrus is one of the largest and most established distributors for medical products in Russia, working with partners like Johnson & Johnson, 3M, Nihon Kohden, Fresenius Kabi, and many other medical products manufacturers.  With more than 2500 employees, the company has an extensive distribution and service network to support their marketing activities, which enables them to not only introduce new products and technologies to the market, but also support their usage and expansion. The Russian market is especially interesting for MagForce since it provides access to a population of 160 million people.

"This year Delrus is celebrating its twentieth anniversary as company and its ongoing commitment to bring the most modern and advanced technologies to the Russian healthcare system.  Our motto, "progress in the name of life," reflects the very promising potential we see in a collaboration with MagForce," said July Magadeev, President of Delrus. "We look forward to the opportunity to bring nanomedicine in oncology to the medical market in Russia and Kazakhstan and professionally support its usage among oncology specialists and in hospitals."

"I am extremely pleased that we are working together with Delrus to establish a comprehensive collaboration to distribute NanoTherm® therapy in Russia and Kazakhstan," said Dr. Andreas Jordan, Founder and member of the Executive Board at MagForce. "Their experience and excellent track record open up significant opportunities for MagForce in Central and Eastern European markets."

ABOUT MAGFORCE AG:

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(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 are trademarks of MagForce AG in selected countries. For more information, please visit www.magforce.com:
http://www.magforce.com.

ABOUT DELRUS

DELRUS, founded in 1991 with currently more than 2500 employees, is an international science and industry holding company maintaining partnership relations with medical product manufacturers in 30 countries. The company, among leaders in the Russian market for medical goods and disposables, 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:
http://www.delrus.com/en  

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.










swiedenmann@magforce.com:
mailto:swiedenmann@magforce.com



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: MagForce AG via Thomson Reuters ONE

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