FRANKFURT, Germany & BERLIN--(BUSINESS WIRE)--Nanostart (OTCQX: NASRY)-holding MagForce AG (XETRA: MF6), a leading medical technology company focusing on nanomedicine in oncology and Delrus Inc., a leading Russian medical product distribution company, announced today the signing of a Letter of Intent (LOI) between the two companies.
The LOI outlines a collaboration focusing on an exclusive distribution agreement for NanoTherm therapy in the Russian Federation and Kazakhstan. The LOI includes Delrus’ financial and professional support for the regulatory approval of NanoTherm therapy in brain tumors and other indications in Russia, including pancreatic and prostate cancer.
Delrus is one of the largest and most established distributors for medical products in Russia, working with partners like Johnson & Johnson, 3M, Nihon Kohden, Fresenius Kabi, and many other medical products manufacturers. With more than 2500 employees, the company has an extensive distribution and service network to support their marketing activities, which enables them to not only introduce new products and technologies to the market, but also support their usage and expansion. The Russian market is especially interesting for MagForce since it provides access to a population of 160 million people.
“This year Delrus is celebrating its twentieth anniversary as company and its ongoing commitment to bring the most modern and advanced technologies to the Russian healthcare system. Our motto is “progress in the name of life,” which reflects the very promising potential we see in a collaboration with MagForce,” said July Magadeev, President of Delrus. “We look forward to the opportunity to bring nanomedicine in oncology to the medical market in Russia and Kazakhstan and professionally support its usage among oncology specialists and in hospitals."
“I am extremely pleased that we are working together with Delrus to establish a comprehensive collaboration to distribute NanoTherm® therapy in Russia and Kazakhstan,” said Dr. Andreas Jordan, Founder and member of the Executive Board at MagForce. “Their experience and excellent track record open up significant opportunities for MagForce in Central and Eastern European markets.”
Nanostart AG (OTCQX: NASRY), headquartered in the German financial capital of Frankfurt, is a leading nanotechnology investment company, with portfolio companies spanning the globe from Silicon Valley to Singapore. The company provides venture capital financing for nanotechnology companies in various growth phases with a focus on innovation-driven industries of the future such as cleantech, life sciences and IT/electronics. Through its subsidiary Nanostart Asia and the venture capital fund in Singapore, Nanostart is proud to be the investment partner of the Singaporean government. For further information please visit: www.nanostart.de.
MagForce AG (XETRA: MF6) is a leading medical technology company focusing on nanomedicine in oncology. The company’s proprietary procedure, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of 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 AG in selected countries. For further information please visit: www.magforce.com
DELRUS, founded in 1991 with currently more than 2500 employees, is an international science and industry holding company maintaining partnership relations with medical product manufacturers in 30 countries. The company, among leaders in the Russian market for medical goods and disposables, is active in the supply of medical institutions. Delrus has regional affiliates in the 80 largest cities of Russia, Belarus, Tajikistan, Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbajan, and the Ukraine. For more information please visit www.delrus.com/en.
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