SOURCE: MagForce Nanotechnologies AG

March 10, 2011 03:56 ET

MagForce Nanotechnologies AG Hires Key Members of Sales and Marketing Team

BERLIN, GERMANY--(Marketwire - March 10, 2011) -

MagForce Nanotechnologies AG /

MagForce Nanotechnologies AG Hires Key Members of Sales and Marketing Team

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* Experienced commercial team prepared to launch NanoTherm® therapy for the treatment of brain tumors

* Patient screening is underway and treatment of first patient expected to begin in the coming weeks

MagForce Nanotechnologies AG (FSE: MF6), a leader in nanomedicine-based cancer treatment, announced today that its sales and marketing team for Germany is in place and commercialization activities are set to begin. With a Commercial Director and four key account managers in place, MagForce will now seek to make its NanoTherm® therapy available in clinics across Germany. The company has received EU approval for its medical devices, which use magnetic nanoparticles for the treatment of brain tumors. Through the application of an alternating magnetic field, the nanoparticles are activated, and heat is produced from within the tumor.

Solveig Salomon joins the company as European Commercial Director and will lead the commercialization team. She has over twenty years of experience in the pharmaceutical industry, including sales and marketing experience in the area of oncology. Her professional experience includes leading positions held at Sandoz International GmbH, Amgen GmbH, Janssen-Cilag GmbH, and Grünenthal GmbH.

"I am excited to welcome Solveig Salomon and the key account managers to MagForce. The start of commercialization is a significant milestone and represents a further success in transforming MagForce from a research-led enterprise to a commercially operating company," said Dr. Peter Heinrich, CEO of MagForce. "Launching a new technology requires experienced individuals with a proven track record and an enthusiasm for innovation. NanoTherm therapy offers an additional treatment option for patients suffering from malignant brain cancer, and I am confident that our team has the commitment and expertise to successfully bring this novel therapy to the European market. Perspective patients are currently being evaluated, and we expect the first patient to begin treatment in the coming weeks."

Christina-Beata Baumgarten, who will be responsible for Northeast Germany, joins MagForce with twelve years of medical device sales experience in the area of interdisciplinary endoscopic ultrasound systems, including positions at Toshiba Medical Systems GmbH Germany, Fujion Europe GmbH, and Philips Healthcare.

Michael Blau, who will be responsible for Northwest Germany, has five years of pharmaceutical sales and marketing experience in the areas of neurology and immunology, including positions held at Biogen Idec GmbH and Careforce-Marketing & Sales Service GmbH.

Jörg Ivanschitz, who will be responsible for Southwest Germany, joins MagForce following fourteen years of pharmaceutical experience including his position as a hospital representative at Essex Pharma GmbH focusing on oncology, infectiology, and hepatology.

Karin Potzies, who will be responsible for Southern Germany, joins with 12 years of pharmaceutical experience including positions at Sanofi-Aventis in the areas of uro-oncology and radiology along with cardiovascular and nuclear medicine. In addition she was at Brystol-Myers Squibb in the area of neurology.

ABOUT MAGFORCE NANOTECHNOLOGIES:

Nanotechnologies AG is a leader in nanomedicine-based cancer treatment and focused on the treatment of solid tumors. The company's proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral release of heat from 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 Nanotechnologies 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 Nanotechnologies AG may substantially differ from these forward-looking statements. MagForce Nanotechnologies 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 Nanotechnologies AG

Max-Dohrn-Str. 8 Berlin Germany

Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;

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Source: MagForce Nanotechnologies AG via Thomson Reuters ONE

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Contact Information

  • For questions, please contact:
    Stacy Wiedenmann
    Director, Investor Relations & Corporate Communications
    Magforce Nanotechnologies 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: Email Contact
    www.magforce.com