MagForce
German medical-technology company that developed magnetic nanoparticle hyperthermia systems for localized cancer treatment.
Last updated August 26, 2026
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History
MagForce originated in Berlin in 1997 as a spin-off from Charité. Its founding team included biologist Andreas Jordan and biology engineer Regina Scholz; Peter Heinrich later became involved in management. The company pursued nanomedicine as a route to localized cancer treatment, concentrating on the use of magnetic nanoparticles to create therapeutic heat inside a tumor. Its core platform combined three elements. NanoTherm consisted of superparamagnetic iron-oxide nanoparticles injected directly into tumor tissue. NanoActivator was the applicator used to generate a rapidly alternating magnetic field, while NanoPlan supported treatment planning. When exposed to the alternating field, the particles oscillate and produce heat. The intended effect was to destroy tumor tissue through hyperthermia or weaken it so that radiotherapy and other treatments could work more effectively. Treatment was generally delivered through multiple sessions rather than a single intervention. MagForce became publicly traded on the Frankfurt Stock Exchange in 2007. The company reached an important regulatory milestone in 2010, when its system received a CE mark and European authorization for glioblastoma treatment. The authorization was presented as the first European authorization for a medical device containing nanoparticles. This made MagForce an early commercial entrant in nanoparticle-enabled medical devices, but regulatory recognition did not ensure rapid adoption. By 2013, system sales were poor. The cited account attributes the commercial difficulties partly to constrained financing and a limited clinical-trial record, which made it difficult to convince oncologists and healthcare systems that the technology was sufficiently effective and safe. During 2013, Hoda Tawfik and Christian von Volkmann reassessed the company's strategy. MagForce raised €33.3 million and reportedly applied approximately half of the money to debt retirement. In September of that year, Ben Lipps became chief executive. His previous association with Fresenius Medical Care and dialysis-market development shaped expectations that he could help move MagForce's technology from specialist innovation toward wider clinical use. The company then increased its focus on the United States. It established MagForce USA, Inc., raised approximately $15 million in 2014, and pursued an indication for prostate cancer. The U.S. strategy was based on obtaining medical-device authorization from the Food and Drug Administration. In 2018, the relevant approval study was reported as having received FDA approval to proceed. MagForce argued that medical-device classification could make the regulatory pathway less burdensome than a drug-development route, although successful commercialization still depended on clinical evidence, regulatory review, and reimbursement. MagForce also secured institutional financing in Europe. In 2017, the European Investment Bank provided a €35 million investment under the Juncker Plan. Meanwhile, the company built a treatment-center footprint in Germany, with equipment installed in Berlin, Cologne, Münster, Kiel, and Frankfurt. In early 2019, it introduced a mobile treatment apparatus in Lublin, Poland. The mobile model addressed some access and deployment issues, but the technology remained expensive to acquire. Reimbursement was another barrier: the cited material states that automatic health-insurance reimbursement was not broadly available and that patients sometimes had to pay in advance. In July 2022, MagForce's Management Board, after consultation with its Supervisory Board, initiated insolvency proceedings. The available reference material does not provide a final insolvency resolution, a successor owner, or reliable information about current operations. The company's present status therefore remains uncertain.
- 2022
Insolvency proceedings begin
[1]MagForce began insolvency proceedings in July after consultation between its Management Board and Supervisory Board.
- 2019
Mobile treatment apparatus introduced in Poland
[1]A mobile version of the NanoTherm magnetic-field apparatus was introduced in Lublin, Poland.
- 2018
U.S. prostate-cancer study receives FDA approval to proceed
[1]The planned U.S. study supporting a prostate-cancer indication was reported as approved by the FDA.
- 2017
European Investment Bank investment
[1]The European Investment Bank invested €35 million in MagForce under the Juncker Plan.
- 2014
U.S. subsidiary funding
[1]MagForce USA, Inc. raised approximately $15 million to advance its U.S. regulatory program.
- 2013
Capital raising and strategic reassessment
[1]Following weak sales, MagForce reassessed its strategy and raised €33.3 million, with about half reportedly used to retire debt.
- 2013
Ben Lipps becomes chief executive
[1]Ben Lipps took over as chief executive in September.
- 2010
European authorization for glioblastoma treatment
[1]The NanoTherm-related system received a CE mark and European authorization for glioblastoma treatment.
- 2007
Frankfurt Stock Exchange listing
[1]MagForce AG became publicly traded through a listing on the Frankfurt Stock Exchange.
- 1997
MagForce is founded as a Charité spin-off
[1]MagForce was established in Berlin as a spin-off from Charité, with Andreas Jordan and Regina Scholz among the founders.
Products and positioning
A specialist oncology medical-technology company positioned around localized, device-assisted nanoparticle hyperthermia as an adjunct or alternative treatment approach for solid tumors.
Magnetic nanoparticle oncology therapy
NanoTherm
NanoTherm is MagForce's core therapeutic technology. It uses a suspension of superparamagnetic iron-oxide nanoparticles that is injected directly into a solid tumor. An externally applied alternating magnetic field causes the particles to generate heat within the treated area. The heat may damage tumor cells directly or increase their sensitivity to radiotherapy and other treatments. The system was associated with the company's European authorization for glioblastoma treatment.
Magnetic-field treatment applicator
NanoActivator
NanoActivator is the equipment component of the MagForce platform that generates the alternating magnetic field used to activate NanoTherm nanoparticles. The apparatus is comparable in broad form to a large clinical imaging or treatment machine, but its purpose is to induce nanoparticle heating rather than produce diagnostic images. Units were installed at treatment centers in several German cities, and a mobile variant was later introduced in Poland.
Treatment-planning system
NanoPlan
NanoPlan is the planning component associated with MagForce's NanoTherm treatment platform. It was developed to support preparation and delivery of magnetic nanoparticle hyperthermia procedures. The available reference material names the system but does not provide detailed information about its software architecture, clinical workflow, or current commercial availability.
Brand decisions
2022
Initiation of insolvency proceedingsOtherBackground
The company faced financial and operating difficulties after years of attempting to commercialize its specialized oncology technology.
Action taken
In July 2022, the Management Board, in consultation with the Supervisory Board, began insolvency proceedings.
Aftermath
The available reference material does not establish the final outcome of the proceedings or the company's current operating status.
2017
European Investment Bank financingOtherBackground
MagForce required substantial financing to support development and expansion of its oncology-device platform.
Action taken
The European Investment Bank provided a €35 million investment under the Juncker Plan.
Aftermath
The financing supported the company's continued development, although the available source does not specify the subsequent allocation or commercial results.
European Investment Bank investment. €35 million (2017)
2014
U.S. prostate-cancer expansionStrategyBackground
MagForce viewed the United States as a potentially larger market for its technology and established a dedicated subsidiary to pursue regulatory approval.
Action taken
MagForce USA, Inc. raised approximately $15 million and advanced a U.S. study focused on prostate cancer.
Aftermath
The study was later reported as approved by the FDA to proceed, but the available material does not document final commercial approval.
U.S. subsidiary financing. Approximately $15 million raised (2014)
2013
Reassessment of commercialization and financing strategyStrategyBackground
By 2013, sales of the NanoTherm system were weak. The cited account links the difficulty to limited funding, a small clinical evidence base, and the challenge of persuading oncologists and payers to adopt a costly new treatment platform.
Action taken
Management reassessed the company's strategy, raised €33.3 million, and reportedly used approximately half of the proceeds to retire debt.
Aftermath
The company continued to pursue international expansion and U.S. regulatory development, but the available material does not establish a successful broad commercial breakthrough.
Capital raised. €33.3 million raised (2013)
2013
Ben Lipps appointed chief executiveOtherBackground
MagForce sought stronger commercialization and international execution after weak sales and a difficult financing environment.
Action taken
Ben Lipps became chief executive in September 2013.
Aftermath
The company emphasized global oncology expansion and pursued a U.S. prostate-cancer program during the subsequent period.
Recent events
- 2022
MagForce begins insolvency proceedings[1]
Bankruptcy
In July 2022, the Management Board, in consultation with the Supervisory Board, began insolvency proceedings. The available reference does not specify the final result or the company's subsequent operating status.
- 2019
Mobile NanoTherm applicator introduced in Poland[1]
Product launch
A mobile version of the magnetic-field treatment apparatus was introduced in Lublin, eastern Poland, expanding the potential delivery model for the NanoTherm procedure.
- 2018
FDA study approval supports MagForce prostate-cancer strategy[1]
Regulation · Other
The company's U.S. prostate-cancer approval study was reported as approved by the Food and Drug Administration, supporting MagForce's effort to pursue a U.S. medical-device authorization.
- 2017
European Investment Bank backs MagForce[1]
Other
MagForce obtained a €35 million investment from the European Investment Bank under the Juncker Plan.
- 2014
MagForce USA raises funding for American approval program[1]
Other · Regulation
The company's U.S. subsidiary raised approximately $15 million to support development and regulatory work for the American market.
- 2013
MagForce revises strategy and raises capital[1]
Other
After weak sales and limited clinical evidence constrained adoption, the company reassessed its strategy and raised €33.3 million, reportedly using about half of the proceeds to retire debt.
- 2013
Ben Lipps becomes MagForce chief executive[1]
Leadership change
Ben Lipps, formerly associated with the leadership of Fresenius Medical Care, took over as MagForce's chief executive in September 2013.
- 2010
MagForce receives European authorization for NanoTherm glioblastoma system[1]
Product launch · Regulation
MagForce received a CE mark and European authorization for its NanoTherm-related system in the treatment of glioblastoma. The event was also described as the first European authorization of a medical device containing nanoparticles.
Sources2 sources
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