Nanostart AG (NASRY: OTC Link) | Nanostart-holding MagForce AG announces changes to Supervisory and Management Boards

Nanostart-holding MagForce AG announces changes to Supervisory and Management Boards

Oct 31, 2011

OTC Disclosure News Service

Frankfurt, Berlin,Germany –

– October31, 2011 – Nanostart (OTCQX: NASRY)-holding MagForce AG(FSE:MF6), a leading medical technology company focusing on nanomedicine inoncology, announced today the resignation of Prof. Dr. Walter Rust as chairmanof the Supervisory Board as of October 25, 2011 due to health reasons.Effective October 28, 2011, Dr. Peter Heinrich stepped down from his positionas MagForce CEO and is expected, at a future date, to return to his previousrole as a member of the MagForce Supervisory Board. Until further appointmentsare confirmed, Dr. Andreas Jordan will represent the Management Board with thesupport of Prof. Dr. Hoda Tawfik, VP Clinical Development MedicalAffairs, and Solveig Salomon, VP Marketing Sales.

Dr. Peter Heinrich said, “When I assumed the position of Magforce CEO,my primary goal was to build professional structures within the company byputting together a team of highly qualified and motivated individuals. Thisgoal has been achieved along with the approval and launch of NanoTherm therapyin the EU and treatment of the first patient with the novel therapy.  I would now like to step back from dailyoperational activities and, in the future, further support the company’s growthand development as a member of the Supervisory Board.”

 

AboutNanostart:

Nanostart AG (OTCQX:NASRY), headquartered in the German financial capital of Frankfurt, is aleading nanotechnology investment company, with portfolio companies spanningthe globe from Silicon Valley to Singapore. The company provides venturecapital financing for nanotechnology companies in various growth phases with afocus on innovation-driven industries of the future such as cleantech, lifesciences and IT/electronics. Through its subsidiary Nanostart Asia and theventure capital fund in Singapore, Nanostart is proud to be the investmentpartner of the Singaporean government.

 

AboutMagForce:

MagForce AG is a leadingmedical technology company focusing on nanomedicine in oncology. The company’sproprietary procedure, NanoTherm® therapy, enables the targeted treatment ofsolid tumors through the intratumoral generation of heat via activation ofmagnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivator™ arecomponents of the therapy and have received EU-wide regulatory approval asmedical 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

 

AboutNanoTherm® therapy:

NanoTherm® therapy involvesthe direct injection of magnetic nanoparticles into the tumor and theirsubsequent heating by an alternating magnetic field. The water-solublenanoparticles are approximately 15 nanometers in diameter and contain an ironoxide core with an aminosaline coating, which causes the particles toagglomerate following injection. The particles are then activated by a magneticfield that changes its polarity 100,000 times per second, and heat is producedwithin the tumor. Depending on the temperature reached and length of treatment,the tumor cells are either directly destroyed or sensitized for theaccompanying chemotherapy or radiation.

 

Disclaimer:

This notice constitutesneither an offer to sell nor a solicitation of offers to purchase or subscribeto securities. There will be no public offering of securities of Nanostart AGin conjunction with the existing listing of its shares in the “Entry Standard”segment of the regulated unofficial market (Freiverkehr) on the Frankfurt StockExchange. This notice does not constitute a securities prospectus. Neither thisnotice nor the information contained within is intended for direct or indirectdistribution within Canada, Australia or Japan.

 

Mediacontact:

Nanostart AG

Dr. Hans Joachim Duerr

Head of CorporateCommunications

Goethestrasse 26-28

D-60313 Frankfurt, Germany

phone: +49 (0)69-21 93 96111    

fax: +49 (0)69-21 93 96 150

e-mail: presse@nanostart.de

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/NASRY/news?id=37211

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