MagForce AG Publishes Shareholder Letter

BERLIN, Nov. 8, 2013 (GLOBE NEWSWIRE) --
Dear MagForce Shareholders,I am pleased to report that we are on target to achieve our 2013 plans:Brain Cancer Therapy: Our main objective for 2013 is to initiate our post-marketing clinical study in recurrent Glioblastoma patients with the placementof NanoActivators® in three world class hospitals in Germany. During Septemberand October we installed our second NanoActivator® at Münster UniversityHospital. We expect to install the third NanoActivator® by year end and thefourth will be installed in early 2014.  Initiation of the new Glioblastomaclinical study is on schedule to start in 2013. In addition, we are preparingour registration path for the USA. In the near future, we intend to concentrateon recurrent Glioblastoma Multiforme (GBM) in Germany, EU27 and the USA, whichrepresents approximately 30% of the approximately 133,000 new GBM casesdiagnosed annually. Parallel to the study we also expect to treat patientscommercially already in 2014, as not every patient with GBM qualifies for thestudy, but can of course already profit from our approach. Global healthcareexpenses for GBM treatments are estimated to exceed 2 billion Euros per year.Prostate Cancer Therapy: With respect to the application of MagForce'sNanoTherm® Therapy (NTT) to the treatment of prostate cancer, our uniquetechnology is viewed as a very promising compliment to current prostate cancertreatments. Our short-term task is to define the optimum regimen with ourNanoTherm® Therapy technology and the path to commercialization. As I discussedin my letter to you in July, we plan to have the path defined and start theexecution process by the end of Q4, 2013. We are on target to accomplish this2013 goal also. Of the 900,000 new diagnosed prostate cancer cases each year,approximately 57% are diagnosed in the combined regions of the USA, Germany andEU27 countries. The combined healthcare expenditure to treat prostate cancer inthese regions is estimated to exceed 10 billion Euros.Financial: Our spending is on target; however, as I indicated in my letter toyou with the half-year results, we expect the net loss from operating activitiesto be higher than in 2012, largely due to the start of the new clinicalGlioblastoma study and to preparations for market entry in other countries.Investor Relations: As we are defining our corporate goals and path to achievethem, I would like to point out that we will continue to present at conferencesas in the past. Our first presentation is Tuesday, November 12(th) in Frankfurtat EIGENKAPITALFORUM.  Investors who are attending the event are cordiallyinvited to join my presentation.  I am very much looking forward to the personaldiscussion with you.Personnel: I am very pleased to reiterate that we have a management team andemployees who are very dedicated and very talented. I am particularly pleasedthat the Supervisory Board of MagForce AG has approved the distribution ofMagForce stock options to every employee! In detail, we have 1,790,499 optionsoutstanding under the 2013 plan. The term is 6 years with an earliest exerciseafter 4 years which assumes we are fully aligned with our shareholders and focuson sustainable shareholder value.Dear Shareholders, in summary we have a challenging path to develop and expandour NanoTherm® Therapy into a valued therapy for the treatment of GBM andprostate cancer and achieve our 5 year financial target which calls for annualrevenues between 100-150 Million Euros. We are enthusiastically making progressstep by step.  Again, thank you for your interest and support of MagForce AG.Sincerely,Dr. Ben LippsChief Executive Officer &Chairman of the Management BoardAbout MagForce AGMagForce AG is a leading medical device company in the field of nanomedicine inoncology, listed in the entry standard (MF6). The Company's proprietary,NanoTherm® therapy, enables the targeted treatment of solid tumors through theintratumoral generation of heat via activation of superparamagneticnanoparticles. NanoTherm®, NanoPlan®, and NanoActivator® are components of thetherapy and have received EU-wide regulatory approval as medical devices for thetreatment of brain tumors. MagForce, NanoTherm®, NanoPlan®, and NanoActivator®are trademarks of MagForce AG in selected countries. For more information,please visit release may contain forward-looking statements and information which may beidentified 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 certainassumptions, which may be subject to a variety of risks and uncertainties. Theresults actually achieved by MagForce AG may substantially differ from theseforward-looking statements. MagForce AG assumes no obligation to update theseforward-looking statements or to correct them in case of developments, whichdiffer from those, anticipated.MagForce_Shareholder Letter_Nov 08, 2013:[HUG#1741693]
CONTACT: For further information:          Anne Hennecke          MC Services AG          T +49 211 529252 22         F +49 211 529252 29         M +49 151 12 555 759