By Cameron Chai
Nanostart’s subsidiary, MagForce, a nanomedicine company specializing in oncology, has signed a letter of intent (LOI) with Delrus, a distributor of medical products based in Russia.
According to the terms of the LOI, Delrus will exclusively distribute MagForce’s NanoTherm therapy in Kazakhstan and the Russian Federation markets. Delrus will also provide professional and financial backup to get Russian regulatory approval for the application of the NanoTherm therapy in brain cancer and other diseases, including prostate and pancreatic cancer.
With its widespread supply and service network, Delrus distributes medical products of Fresenius Kabi, Nihon Kohden, Johnson & Johnson, 3M and many other producers in Russia. MagForce has a special interest in the Russian market, citing its huge population of 160 million.
Delrus’ President, July Magadeev stated that this year, the company is commemorating its 20th anniversary and its efforts to bring the sophisticated technologies to the healthcare system in Russia. The company expects a huge potential for nanomedicine in oncology in the medical market in Kazakhstan and Russia and proficiently encourages its widespread availability in hospitals and oncology specialists, Magadeev said.
MagForce’s founder and an executive board member, Dr. Andreas Jordan stated that the company is happy to partner with Delrus to market the NanoTherm therapy in Kazakhstan and in the Russian Federation. With Delrus’ tremendous track record and expertise, MagForce will explore the opportunities in Eastern and Central European markets, Jordan added.