Search Follow us

magforce

1 - 12 of 28
Sort by: popularity | newest
Page  2 3  of 3 | Next
MagForce

US NanoTherm IDE approval a major milestone

Update | Pharmaceutical & healthcare | 23 Feb 2018

MagForce has received IDE approval to start its first pivotal clinical trial evaluating NanoTherm focal ablation therapy for prostate cancer in the US. This is a major milestone for the company. Prostate cancer in the US presents a significant market opportunity (representing ~60% of our rNPV) and makes sense strategically as a first US indication. The start of this trial will broaden the geographic and therapeutic reach of NanoTherm therapy beyond Europe, where it is already approved for brain cancer. Our updated valuation is EUR 302.6m.

MagForce

NanoTherm US prostate cancer trial initiates

Update | Pharmaceutical & healthcare | 04 Jul 2018

MagForce has announced the enrolment of the first patient in its pivotal clinical trial evaluating NanoTherm focal ablation therapy in the US for prostate cancer. The trial started as expected in Q218 and further patient recruitment is underway at the two clinical sites (CHRISTUS Santa Rosa and the University of Washington). Prostate cancer presents a significant market opportunity in the US (representing ~60% of our rNPV) and makes sense strategically as a first US indication.

MagForce

Scale Update - 2017 lays foundation for 2018 progress

Update | Pharmaceutical & healthcare | 18 May 2018

MagForce continues to execute its two-pronged strategy. With EUR 35m now available in financing from the European Investment Bank (EIB), MagForce can roll out its Nanotherm devices outside of Germany for the treatment of glioblastoma multiforme (GBM) patients. Plans for 2018 to expand into Poland and Italy reflect the high levels of enquires coming from both countries. In the US, the first patient is expected to enrol into the pivotal clinical trial for prostate cancer in Q218, following the investigational device exemption (IDE) approval in February 2018.

MagForce

2017 lays foundation for 2018 progress

Update | Pharmaceutical & healthcare | 17 May 2018

MagForce continues to execute its two-pronged strategy. With EUR 35m now available in financing from the EIB, MagForce can now roll out its Nanotherm devices outside of Germany for the treatment of glioblastoma multiforme (GBM) patients. Plans for 2018 to expand into Poland and Italy reflect the high levels of enquires coming from both countries. In the US, the first patient is expected to enrol into the pivotal clinical trial for prostate cancer in Q218, following the investigational device exemption (IDE) approval in February 2018. We value MagForce at EUR 11.7/share.

Heliad Equity Partners

Strong gains allow further diversification

Update | Investment Companies | 11 Apr 2018

Heliad Equity Partners (Heliad) posted strong results for FY17, with profit before tax of EUR 39.6m compared with a loss of EUR 22.2m in FY16. This was principally driven by share price gains among listed holdings, notably FinTech Group and MagForce. These increases allowed Heliad to realise gains of EUR 19.5m, supporting further diversification of the portfolio through additional participations in some existing private holdings, and new investments in both listed and unlisted companies, including mattress and home furnishing specialist Sleepz, and vertically integrated jewellery company Elumeo. A FY17 dividend of EUR 0.20 has been recommended.

MagForce

H117: EIB funding to accelerate rollout

Update | Pharmaceutical & healthcare | 06 Oct 2017

New financing from the European Investment Bank (EIB) of up to EUR 35m will support NanoTherm’s European rollout for treatment of both brain and prostate cancer patients. In the US, a second clinical treatment site has been established in Texas and the IDE approval process with the FDA continues. In H117, the net loss for the period was EUR 3.0m (H116: EUR 3.2), while gross cash as of 30 June 2017 stood at EUR 7.7m but does not include any drawdowns from the EIB loan, which was signed post period.

Heliad Equity Partners

Scale Update - Key portfolio holdings drive results

Update | Investment Companies | 14 Sep 2017

Heliad Equity Partners benefited from the stock price appreciation of its major listed portfolio holdings (most notably FinTech and MagForce), posting a considerable increase in PBT to EUR 10.9m from a pre-tax loss of EUR 24.8m in H116. Importantly, this includes a considerable proportion of realised gross capital gains of EUR 7.8m (above EUR 2.5m in H116), translating into an improved cash position (net cash of EUR 0.5m compared with net debt of EUR 2.1m in FY16). Consequently, net asset value improved by 8.7% vs FY16 to EUR 9.16 and the stock is now trading at a 23% discount to its NAV.

MagForce

Funding in place for EU roll-out

Update | Pharmaceutical & healthcare | 11 Aug 2017

MagForce has announced a loan of up to EUR 35m from the European Investment Bank (EIB), of which EUR 10m is available immediately. This funding will enable MagForce to roll out its NanoTherm devices across Europe and reach patients who were previously reluctant to travel across the border to Germany for glioblastoma treatment. While we believe the extra funds could accelerate EU device roll-out above our current assumptions, we retain our forecasts and await more details on progress. Our valuation of MagForce remains unchanged at EUR 226m (EUR 8.6/share).

MagForce

Scale Update - FY16: Slow NanoTherm uptake affects top line

Update | Pharmaceutical & healthcare | 13 Jul 2017

MagForce continues to execute the strategy originally proposed in late 2013. Domestic reimbursement discussions are ongoing within Germany but expansion in the rest of Europe remains the focus as MagForce looks to increase patient numbers. In the US, a second clinical treatment site has been established in Texas and the IDE approval process with the FDA continues. Post period the company has raised gross EUR 13.4m through equity and debt to aid in the roll-out of devices across the broader EU.

MagForce

FY16: Slow NanoTherm uptake affects top line

Update | Pharmaceutical & healthcare | 13 Jul 2017

MagForce continues to execute the strategy originally proposed in late 2013. Domestic reimbursement discussions are ongoing within Germany but expansion in the rest of Europe remains the focus as MagForce looks to increase patient numbers. In the US, a second clinical treatment site has been established in Texas and the IDE approval process with the FDA continues. Post period the company has raised EUR 13.4m gross through equity and debt to aid in the roll-out of devices across the broader EU.

Heliad Equity Partners

Focused DACH tech investor

Initiation | Investment Companies | 12 Jun 2017

Heliad Equity Partners (Heliad) is a DACH-focused (Germany, Austria and Switzerland) closed-ended fund investing in the tech, e-commerce and lifestyle sectors. It is managed by Heliad Management GmbH, a company wholly owned by Heliad's largest shareholder, FinLab (A7A). Stakes in listed tech companies FinTech Group (FTK) and MagForce (MF6) account for 69% of the portfolio value and their value currently exceeds Heliad's market cap, having appreciated 36% and 82%, respectively, in 2017 to date. The performance of these holdings and the diversification offered by Heliad's 12 other investments may make it an attractive way to access the German tech, e-commerce and lifestyle sectors at a discount.

Heliad Equity Partners

Scale Initiation - Focused DACH investor

Initiation | Investment Companies | 06 Jun 2017

Heliad Equity Partners (Heliad) is a DACH-focused investor in the tech, e-commerce and lifestyle sectors. It is managed by Heliad Management GmbH, a company wholly owned by Heliad's largest shareholder, FinLab (A7A). Stakes in listed tech companies FinTech Group (FTK) and MagForce (MF6) account for 69% of the portfolio value and their value currently exceeds Heliad's market cap, having appreciated 34% and 76%, respectively, in 2017 to date. The performance of these holdings and the diversification offered by Heliad's 12 other investments may make it an attractive way to access the German tech, e-commerce and lifestyle sectors at a discount.