MagForce Nanotechnologies AG Published a Letter To Shareholders According to BAC Report26 Nov 2011 • by Natalie Aster
LONDON – The Letter published this month covers several topics and gives a summary on MagForce activities and achievements in 2011.
Briefly, the covered topics can be grouped in the following summary:
- NanoTherm® therapy acquired approval for practical use and gained strong attention from leading medicine experts, who are willing to test the technology themselves. The first NanoActivator™ machine is installed at Charité University Hospital in Berlin;
- Clinical projects regarding prostate and pancreas cancer treatment have been planned;
- Glioblastoma clinical trial is at the point of final planning of clinical studies. Leading international oncology clinics will conduct the studies;
- Strategic investors from abroad expressed their will to become MagForce shareholders.
Since MagForce is still unable to spread its NanoTherm® therapy technology worldwide, and other technologies are yet about to pass clinical trials, the company is not generating any profits. Every period reflects net losses, but the company’s CEO sees FY 2012 as generally stable. MagForce has great potential, and is expected to become profitable in next four years.
The total number of all cancer patients worldwide each year is given as 12.3 million. A study by the American Cancer Society says that about 20,000 people die every day from the consequences of cancer. In 2007 it was therefore about 7.6 million deaths from cancer, of which 2.9 million fell on the industrialized countries. The American Cancer Society continues to expect that the number of cancer cases worldwide will double in 2030. In Germany, 450000 people have cancer diagnosis. Experts estimate that the number of cancer cases will increase by 30% due till 2050 due to demographic developments. As a result, continuously increasing need for effective and simultaneously tolerated cancer therapies appears. MagForce with its innovative cancer treatment technology has potential to become one of the major players in medicine market.
Founded in 1997 and headquartered in Berlin (Germany), MagForce Nanotechnologies engages in development, clinical trial and production of nanotechnology-based cancer treatment. Its first (and only) approved technology – NanoTherm® therapy – is being implemented at Charité University Hospital in Berlin. Since 2010 the company trades at Xetra under the ticker MF6.
Get all the details on the company’s technologies, market environment and prospectives, peers and financials from the report “MagForce Nanotechnologies AG Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: MagForce Nanotechnologies AG Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Nov, 2011
More company reports featuring SWOT and financial information, industry and competitors analysis can be found in Company Reports Catalog.
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