MagForce Nanotechnologies AG Applies for European Regulatory Approval of Its Nano-Cancer® Therapy

BERLIN--(BUSINESS WIRE)--MagForce Nanotechnologies AG has submitted the product file for NanoTherm^® to Medcert GmbH, the medical certification and testing company which serves as Notified Body for the certification of medical products. With this step, MagForce has now commenced the conformity assessment procedure for its Nano-Cancer ^® therapy. Following successful completion of this conformity assessment procedure and EC type testing of the magnetic field applicator, MagForce will be able to apply the CE European conformity marking and to market its Nano-Cancer^® therapy throughout the European Union.

“With the glioblastoma study successfully concluded and the product file now submitted for review, we have attained our most important objectives for this year, which we are of course extremely pleased about”

In early November, the results of a pivotal clinical trial were published demonstrating the efficacy of the new therapy in patients with recurrent glioblastoma, and it is upon these results that the application for European regulatory approval is based. The primary study objective, which was to extend the median survival time following tumor recurrence by three months compared to a historical control group, was significantly exceeded in the actual results. Following treatment with Nano-Cancer^® and accompanying radiotherapy, the median survival time following diagnosis of the first tumor recurrence was 13.4 months. Compared to the 6.2-month median survival time following recurrence observed in a recently published EORTC study, the patient survival time was shown to be statistically highly significant longer (p-value < 0.01).

“With the glioblastoma study successfully concluded and the product file now submitted for review, we have attained our most important objectives for this year, which we are of course extremely pleased about,” said Dr. Uwe Maschek, CEO of MagForce Nanotechnologies AG. “We are confident that we are on a solid course to complete the certification procedure for our Nano-Cancer^® therapy in the first half of 2010. Over the months ahead, we will thus be able to concentrate our resources entirely on preparations for the commercialization phase.”

ABOUT MAGFORCE NANOTECHNOLOGIES:

MagForce Nanotechnologies AG is one of the world’s leading companies in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer^® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.

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.