Nanostart Subsidiary MagForce Nanotechnologies AG Hires Key Members of Sales and Marketing Team

BERLIN & FRANKFURT, Germany--(BUSINESS WIRE)--Nanostart AG (OTCQX:NASRY) subsidiary 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.

“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”

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 Nanostart:

Nanostart AG (OTCQX:NASRY) is the world’s leading nanotechnology investment company. The Frankfurt-based company provides venture capital financing for nanotechnology companies in various growth phases. It also provides the benefits of its experience and expertise to developers of financial instruments and to investors in the nanotechnology sector. For further information about the company, please visit www.nanostart.de.

About MagForce Nanotechnologies:

MagForce Nanotechnologies AG is a leader in the area of nanotechnology-based cancer treatment. The proprietary procedure which it has developed, Nano-Cancer® therapy, enables the targeted treatment of solid tumors through the intratumoral release of heat from magnetic nanoparticles. Its products used in the therapy, NanoTherm® and NanoActivator®, have received EU-wide regulatory approval as medical devices for the treatment of brain tumors.

Disclaimer:

This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the “Entry Standard” segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within the United States of America, Canada, Australia or Japan.