Tek Grup, a Turkish company distributing medical products, has inked an exclusive distribution deal with MagForce, a medical technology firm focusing on nanomedicine in oncology, to supply MagForce’s NanoTherm therapy in the regions, including Turkey, Azerbaijan, Iraq and Albania.
As per the terms of the distribution deal, besides marketing the NanoTherm therapy, Tek Grup has also been entrusted with the task of obtaining marketing authorization for the therapy for brain tumor treatment in the aforementioned countries. Other tumor indications will also come under the scope of the deal upon getting an approval for the therapy as in the European Union (EU).
The NanoTherm therapy is MagForce's proprietary technology that facilitates the local treatment of solid tumors by generating intratumoral heat through magnetic nanoparticle activation. NanoTherm, NanoActivator, and NanoPlan are the therapy’s components and have obtained EU-wide regulatory approval to be used as medical devices to treat brain tumors.
MagForce’s Founder and Executive Board, Dr Andreas Jordan expressed the company’s elation in the signing of the second major distribution deal for the company’s NanoTherm therapy outside the European Union. Tek Grup is the right partner to market the company’s advanced technology in Turkey, Azerbaijan, Iraq and Albania.
Tek Grup’s Member of Board, Hasan Karagöz stated that MagForce’s advanced technology holds potential in Tek Grup’s major markets in Turkey, Azerbaijan, Iraq and Albania. The company’s medical advisors in oncology therapy have given positive feedback about MagForce’s NanoTherm therapy and Tek Grup is looking forward to introduce the technology in these regions.