MagForce’s core product is NanoTherm, a treatment that injects specially coated iron oxide nanoparticles into tumors and then oscillates a magnetic field in a NanoActivator to convert magnetic energy into heat inside cancer cells. The NanoActivator resembles an MRI and oscillates polarity about 100,000 times per second; the nanoparticles act as transducers to generate localized heat. NanoTherm is currently available in Europe for treating glioblastoma brain tumors and is reported to make radiation therapy twice as effective when combined. The company plans to develop NanoTherm for additional cancers, including prostate cancer, and to pursue U.S. regulatory approval. MagForce was founded in 1997 and is listed on the Frankfurt stock exchange with a market capitalization of $144 million. CEO Ben Lipps has said that if NanoTherm is approved in the U.S., the company would pursue an IPO in the United States.

Total raised

$15M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2014