BERLIN--(BUSINESS WIRE)--MagForce Nanotechnologies AG has announced the appointment of Dr. Peter Heinrich, until now the deputy chairman of its supervisory board, as the company’s new chief executive officer effective January 1, 2010. The appointment follows the decision of Dr. Uwe Maschek to resign at his own request as CEO as of December 31, 2009.
Dr. Peter Heinrich was co-founder of MediGene AG and served as its managing director and CEO from 1995 until the middle of 2009. MediGene is a biotechnology company listed on the Frankfurt Stock Exchange and included in the TecDax index which at that time was focused on the development of innovative pharmaceuticals in the fields of oncology/immunology and cardiology. In his long career with the company, Dr. Heinrich initially served as CEO/managing director and sole executive board member with responsibility for all areas. Following the company’s stock exchange listing in 2000 and expansion of its executive board, he held specific board-level responsibility for the areas of administration, business development, controlling, corporate finance, investor and public relations, organizational development, intellectual property and human resources, along with executive responsibility for the company’s facilities in San Diego (California) and Oxford (UK). Under the leadership of Dr. Heinrich, MediGene grew from a venture capital-financed start-up to an established biopharmaceutical company with international operations and drugs on the market. Along the way, Dr. Heinrich played a key role in achieving a number of noteworthy milestones in the company’s development, including the regulatory approval and market launches of the drugs Eligard®, Veregen® and Oracea®, the acquisition of companies, the in- licensing and out-licensing of drug candidates, strategic partnerships with pharmaceutical corporations, the company’s listing on the Frankfurt Stock Exchange in 2000 as well as follow-on capital market transactions.
Prior to his achievements at MediGene, Dr. Heinrich worked for almost eight years at Wacker Chemie AG in Munich, where he held several positions in management and in biotechnology research and development. During this time he was substantially involved in the development of biotechnology products which have since been successfully brought to market. Following his studies in biology and chemistry at the University of Munich, where he received his doctoral degree in biochemistry, Dr. Heinrich continued with post-doctoral work at Harvard University. He is co-founder and chairman of the executive board of BIO-Deutschland, an independent organization representing the interests of the German biotechnology industry. From 2001 to 2009 he served as a member of European Biopharmaceutical Enterprises (EBE), including as its president from 2003 to 2006. Dr. Heinrich also serves on the board of trustees of Bayern Innovativ GmbH, as a mentor and tutor at the Bavarian Elite Academy, and on the supervisory board of the University of Augsburg’s MBA program.
“We deeply regret that Dr. Maschek has decided to end his extremely successful tenure at MagForce Nanotechnologies AG, but we are absolutely delighted that we have been able to attract such an extraordinarily well qualified candidate as Dr. Heinrich as our new CEO,” said Professor Walter Rust, chairman of the company’s supervisory board. “Dr. Heinrich brings more than 20 years of international experience in the fields of biotechnology research and pharmaceutical development, in the negotiation of licensing agreements and strategic partnerships, in the commercialization of pharmaceuticals, and in company acquisitions and capital market transactions. On top of all this, he knows MagForce well from his past service on the supervisory board, making him the ideal individual to take over as our new CEO. We thank Dr. Maschek for his many contributions and wish Dr. Heinrich great success in his new position.”
Dr. Peter Heinrich, the newly named CEO of MagForce, added that “with its Nano-Cancer® therapy, MagForce possesses an extremely innovative and effective therapeutic procedure to treat solid tumors, for which an application for EU-wide regulatory approval has been submitted following the successful completion of clinical trials in glioblastoma patients with compelling data received. The next step is to drive forward vigorously with preparations for commercializing the products in Europe and to rapidly expand the scope of application of our Nano-Cancer® therapy to encompass additional cancer indications, as well as to position the company in the international market.“
ABOUT MAGFORCE NANOTECHNOLOGIES:
MagForce Nanotechnologies AG is one of the world’s leading companies in the area of nanotechnology-based cancer treatment. Its patented Nano-Cancer® therapy allows the targeted destruction of tumors using superparamagnetic nanoparticles to generate heat. The nanotechnology from MagForce represents a revolutionary approach to the future successful treatment of solid tumors.
DISCLAIMER:
This release may contain forward-looking statements and information which may be identified by formulations using terms such as “expect, “aims”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates” or “will”. Such forward-looking statements are based on our current expectations and certain assumptions which may be subject to a variety of risks and uncertainties. The results actually achieved by MagForce Nanotechnologies AG may substantially differ from these forward-looking statements. MagForce Nanotechnologies AG assumes no obligation to update these forward-looking statements or to correct them in case of developments which differ from those anticipated.
Contact:
MagForce Nanotechnologies AG Christofer Radic Public Relations Manager Phone: +49 (0)30 308 380 31 Fax: +49 (0)30 308 380 99 Email: cradic@magforce.com Website: http://www.magforce.com
