Frankfurt am Main - MagForce Nanotechnologies, a majority shareholding of the Frankfurt-based nanotechnology investment company Nanostart AG, has successfully transformed its legal form from a GmbH (private limited company) to an AG (stock corporation).
The company gave notice today that the transformation was finalized on 6 October with the entry into the Commercial Register of the Charlottenburg District Court in Berlin.
"The transformation of MagForce Nanotechnologies into a stock corporation represents a further major step forward for our company. The legal form of a stock corporation will offer MagForce a wealth of new perspectives, something we are extremely pleased about", states Dr. Andreas Jordan, former Managing Director of the GmbH and now CEO of MagForce Nanotechnologies AG.
The Berlin-based company MagForce Nanotechnologies AG, 57 percent of the shares of which are held by Nanostart AG, is a successful producer, developer and researcher in the field of nanotechnological cancer therapy. After more than 15 years of research, the company has developed a therapy model for future cancer treatment that is free of side effects. The therapy has meanwhile departed the laboratory stage and is being put into practice in the hospital: at the moment, a series of clinical studies are being staged, and MagForce expects the patented therapy to be licensed in 2007. As acknowledgement of its exceptional successes, MagForce was awarded, among other things, the renowned "Technology Innovation Award 2005" by Frost & Sullivan.
About Nanostart AG:
Nanostart AG is a listed nanotechnology investment company whose activities are divided into two areas: one of its focuses is investing in fast-growing nanotechnology companies; its other key area of activity is advising companies in the financial industry on investments in the nanotechnology sector.
About MagForce Nanotechnologies AG:
MagForce Nanotechnologies AG is the world's leading company in the area of nanotechnology-based cancer therapy. Its patented therapy allows the targeted destruction of tumors using magnetic nanoparticles. MagForce's nanotechnology represents a revolutionary approach to the future successful treatment of solid tumors.
