MagForce AG
frankfurt : MF6

October 31, 2011 09:39 ET

MagForce AG Announces Changes to Supervisory and Management Boards

BERLIN--(Marketwire - Oct 31, 2011) -

MagForce AG / MagForce AG Announces Changes to Supervisory and Management Boards . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

Berlin, October 31, 2011 - 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 MAGFORCE:

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.

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.


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MagForce AG Max-Dohrn-Str. 8 Berlin Germany


Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;

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Source: MagForce AG via Thomson Reuters ONE

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Contact Information

  • 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@magforce.com
    www.magforce.com