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Liquidmetal® Technologies, Inc. formally introduced Nomad Sales as the Company‘s sales representative firm in the Midwest region of the US. Nomad Sales will be promoting Liquidmetal amorphous alloys for commercial markets such as aerospace, medical and industrial products. Liquidmetal® Technologies has also engaged Liolios Group to lead a new investor relations and financial communications program.
MagForce AG (MF6.FSE) announced additions to the management board and further measures to enforce commercialization of NanoTherm® therapy. Thus, focussing on establishing the NanoTherm® therapy in the oncology market as well as on its commercialization for near-term value generation. In the short to mid term, MagForce will dedicate its financial resources to the post marketing trial in glioblastoma, which is expected to start in early 2013 and is supposed to make a significant contribution to its strategic set up. Simultaneously, the Company will also focus on the commercialization of its NanoTherm® therapy with its distribution partners including DELRUS and TekGrup, development partners such as the Mayo Clinic for gastrointestinal cancer and the Department of Urology at Duesseldorf University for prostate cancer, as well as the production of nanoparticles.
In line with this strategy, the Company’s core functions, including clinical and business development, medical affairs plus legal & IP will be concentrated at the MagForce site in Munich where these teams are already located. Production of nanoparticles, NanoActivators™, software engineering as well as the finance department will remain at the Company’s registered office in Berlin. Moreover, MagForce announced the financial results for the first half of the 2012 fiscal year, ending June 30, 2012. In the first half of the year, MagForce was able to successfully finalize distribution partnerships with DELRUS (Russia) and Tek Grup (Turkey), as well as a development partnership with the Mayo Clinic (USA). During the reporting period, the company recorded a loss of EUR3.6 million/USD4.65 million (prior year period: EUR4.6 million/USD5.94 million).