MagForce AG: Agreement in principle on the sale of business operations

MagForce AG / Key word(s): Insolvency/Miscellaneous
MagForce AG: Agreement in principle on the sale of business operations

14-Nov-2022 / 21:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
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Disclosure of an insider information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

MagForce AG: Agreement in principle on the sale of business operations

Berlin, November 14, 2022 - The insolvency administrator of MagForce AG (ISIN: DE000A0HGQF5), Mr. Rüdiger Wienberg, attorney-at-law, today concluded the negotiations conducted with a foreign group of companies regarding the sale of the main business area of MagForce AG and its direct and indirect subsidiaries. This business includes, among other things, the application of NanoTherm therapy for the treatment of certain tumors, including focal thermal ablation treatment of intermediate-risk prostate cancer patients, and also the manufacture, maintenance, repair, and service of NanoActivator, an alternating magnetic field generator, and the nanoparticles used in NanoTherm therapy. The funds required to maintain business operations until the conclusion of the contract negotiations had been pre-financed by the investors. The proceeds from the sale will go to the insolvency estate. MagForce AG will be wound up as part of the insolvency proceedings; shareholders are not expected to receive any payments.

The purchase agreement is expected to be signed on November 15, 2022.

- End of Insider Information -

Contact:
MagForce AG, Max-Planck-Straße 3, 12489 Berlin
Barbara von Frankenberg
Vice President Communications & Investor Relations
T +49-30-308380-77
E-Mail: bfrankenberg@magforce.com

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