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MagForce AG Publishes Financial Results for the First Half of 2020 and Operative Highlights

DGAP-News: MagForce AG / Key word(s): Half Year Results MagForce AG Publishes Financial Results for the First Half of 2020 and Operative Highlights 30.10.2020 / 08:30 The issuer is solely responsible for the content of this announcement. MagForce AG Publishes Financial Results for the First Half of 2020 and Operative Highlights

- Very significant increase in European patient inquiries for NanoTherm therapy system for the treatment of glioblastomas

- U.S. focal prostate cancer treatment study: positive findings of Stage 1 confirmed during current Stage - positive treatment results also with the streamlined procedure

- Flexible commercialization models for focal cancer treatment centers in the U.S. in place
 

Berlin, Germany and Nevada, USA, October 30, 2020 - MagForce AG (Frankfurt, Scale, XETRA: MF6, ISIN: DE000A0HGQF5), a leading medical device company in the field of nanomedicine focused on oncology, published today its financial results for the first half of 2020, ending on June 30, 2020, and operative highlights.

"During the first half of 2020, we have continued to pass several major milestones and have made significant progress both in Europe with our roll-out strategy and the U.S. with the start of the next stage in our pivotal clinical study for the focal ablation of intermediate risk prostate cancer. MagForce continues to cope with the ever-evolving situation around COVID-19, nevertheless I am steadfast in my belief that by pursuing a strategy of expansion with sustainable partnerships in Europe and providing NanoTherm therapy in the U.S. to patients suffering from prostate cancer, MagForce is well positioned for the future." commented Ben Lipps, CEO of MagForce AG and MagForce USA, Inc. "At the same time, MagForce today is in a better operational position than ever before in the company's history - the number of brain tumor treatments in Europe is increasing significantly and sustainably, the interest of clinics is really high, and in the U.S. our pivotal study for the focal treatment of prostate cancer proves that our therapy is achieving the very good treatment results we had hoped for."