MagForce Signs Letter of Intent with Leading Russian Medical Product Distribution Company Delrus
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MagForce AG /
MagForce Signs Letter of Intent with Leading Russian Medical Product
Distribution Company Delrus
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* 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.
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
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.
Contact:
Stacy Wiedenmann
Director Investor Relations & Corporate Communications
Magforce AG
Max-Dohrn-Str. 8
10589 Berlin
T +49 30 308 380 31
F +49 30 308 380 99
M +49 151 12000 722
email:swiedenmann(at)magforce.com
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(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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