MagForce

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The MagForce AG from Berlin is a research in the field of nanomedicine medical technology company. It was the first company to receive European approval for a medical device containing nanoparticles.

The NanoTherm process

With NanoTherm, MagForce AG has developed a novel method for treating solid tumors. Here, iron oxide-containing nanoparticles with superparamagnetic properties are injected into a tumor, which are then set into ultra-fast oscillation in an alternating magnetic field, so that the temperature within the cells increases to up to 70 degrees Celsius and the cancerous tissue is thereby destroyed or significantly weakened. Six one-hour sessions in an alternating magnetic field are scheduled for the patient's treatment with few side effects. Wirtschaftswoche describes the procedure as "one of the most innovative cancer therapies in recent years" and reported in detail in 2009 on the encouraging results and therapeutic successes that MagForce achieved with its nanoparticles in seriously ill brain tumor patients.

The European Union, which supports the project with 35 million euros in funding, emphasizes: “Thanks to this innovative method, the tumor can be fought from within and surrounding healthy tissue is spared. Throughout Germany, neurosurgeons are increasingly integrating NanoTherm therapy into the treatment of brain tumors and are repeatedly seeing additional medical benefits. "

The scientific basis of this form of therapy goes back to researchers at the Berlin Charité . The method has been approved for the treatment of glioblastomas within the EU for the first time since 2010 .

The necessary apparatus for generating the alternating magnetic field, the patented NanoActivator, is currently available in clinics in Berlin, Cologne, Münster, Kiel and Frankfurt. A mobile version of the apparatus was presented in Lublin , Eastern Poland , in early 2019 . The relatively high acquisition costs of this technology have so far prevented a commercial breakthrough. Another obstacle to the acceptance of the method is the lack of automatic reimbursement by the health insurance companies. So far, the costs of the Europe-wide approved procedure have been covered, but only after the patient has paid in advance.

Company history

MagForce was founded and managed in 1997 by the Berlin biologist Andreas Jordan and the biology engineer Regina Scholz, later Peter Heinrich was in the management of the company. In September 2013, the American Ben Lipps took over the management of the company. Prior to this, he had headed the DAX group Fresenius Medical Care for several years and was significantly involved in the successful establishment of common dialysis procedures on the market. He justified his commitment to the small and still relatively unknown start-up MagForce with the “enthusiasm for the innovative technology”, a “possibly revolutionary therapy against cancer.” In a detailed interview with Die Welt , Lipps clarified the prospects: “MagForce is up the best way to become a successful and highly profitable global player in the field of oncology. Our therapy can change the lives of people with cancer in a positive way. [...] the idea of ​​MagForce is brilliant. "

In 2018, FOCUS reports on the company's US strategy: With the specially founded subsidiary MagForce USA, Inc., approval for the treatment of prostate cancer is to be achieved in the United States, which, given the larger number of patients, means faster refinancing of research and development costs. In 2018, the corresponding registration study was approved by the responsible authority Food and Drug Administration and is currently being carried out. Ben Lipps: “The FDA approval was a much greater success than the capital market has realized so far. It is important to understand that we were classified as a medical technology product by the FDA some time ago. The FDA's requirements for a medical device are significantly less burdensome and risky. If we can now deliver our projected results in the upcoming study on the treatment of prostate cancer, we will quickly receive commercial approval. "

MagForce AG has been listed on the Frankfurt Stock Exchange since 2007. NanoTherm®, NanoPlan® and NanoActivator® are components of the therapy and, as medical products, have EU-wide certification for the treatment of brain tumors.

The investment fund of the European Union supports the company with 35 million euros in funding. In addition, the billionaire and Silicon Valley investor Peter Thiel , the hedge fund Moore Capital and Ben Lipps personally participate as investors. MagForce has around 40 employees in 2018. In addition to Ben J. Lipps as CEO, the Egyptian Hoda Tawfik as CMO and Christian von Volkmann as CFO are also represented on the board .

Web links

Individual evidence

  1. Quotation from the Berlin Economic Development Agency: (Magforce is) "the first company in the world to receive European approval for a medical product using nanoparticles"
  2. The European Union Investment Fund: Innovative ways in cancer therapy lead through a magnetic field
  3. Press release from the Berlin Charité
  4. Interview of Wirtschaftswoche editor Susanne Kutter with Benjamin Lipps
  5. WirtschaftsWoche: Nanotechnology against cancer
  6. The European Union Investment Fund: With small parts in the fight against the tumor
  7. The European Union Investment Fund: An innovative method with worldwide appeal
  8. Press release from MagForce AG
  9. Article from Wallstreet Online: Is This the Steve Jobs of the MedTech World?
  10. WirtschaftsWoche: Nanotechnology against cancer
  11. Article in Manager Magazin
  12. Article in Der Spiegel
  13. Die Welt: Interview with Healthcare Veteran Ben Lipps: The MagForce idea is brilliant
  14. Article in FOCUS
  15. Die Welt: Interview with healthcare veteran Ben Lipps: "The MagForce idea is brilliant"
  16. Current reports about MagForce of the independent stock exchange news service DGAP of the EQS Group
  17. ^ Wall Street Online
  18. The European Union Investment Fund: Innovative ways in cancer therapy lead through a magnetic field