MagForce AG hires Christian von Volkmann as Head of Finance

• von Volkmann leads Financial Department with immediate effect
• Magforce's Financial Department will again be headed up by a competent leader

Berlin, Germany, May 3, 2012 - MagForce AG (Frankfurt, XETRA: MF6), a leading medical technology company in the field of nanomedicine in oncology, announced today that Christian von Volkmann is hired as Head of Finance and will lead the Company's Financial Department with immediate effect. Christian von Volkmann is a proven expert in finance with many years of experience in the biotech and pharma industries. In 2009, as Chief Financial Officer, he completed Jerini AG's successful acquisition by Shire plc, which was initiated in 2008.

"We are excited that our Financial Department will again be headed up by a competent leader. In Christian von Volkmann we have a highly qualified expert in finance with many years of experience in the biotech industry. We welcome Mr. von Volkmann and look forward to jointly progressing the development of our Company and successfully reestablishing MagForce at the capital markets", Dr Andreas Jordan, CEO and founder of MagForce, said.

"I am excited to join MagForce during this exciting period. In restructuring the Company and introducing a new focused corporate strategy, MagForce has managed to implement critical steps for successfully developing the Company in the future", Christian von Volkmann, Head of Finance, commented. "Now it is important not only to improve the acceptance of the NanoTherm® therapy in the market but also to enter international strategic distribution partnerships, to secure a solid financial basis for the long term and to rebuild the confidence of the capital markets through a professional dialogue with investors. I very much look forward to actively participating in this process."

"I am extremely pleased to know the further development of our NanoTherm® therapy is being well supported in both the medical-scientific and financial fields. The planned post marketing authorization clinical trial in brain tumors as well as our further development in prostate and pancreatic cancer are key elements for our future corporate development. I am looking forward to working with Mr. von Volkmann in these important programs", Prof Dr Hoda Tawfik, Vice President R & D/Medical Affairs, commented.

Christian von Volkmann has more than 14 years of international experience in corporate finance/capital market transactions, group structuring and M&A. In his position at Jerini AG (Berlin, Germany), which he joined in 2004 as Director of Finance, he contributed as Vice President of Finance to one of the most successful transactions in the European biotech industry. As Chief Financial Officer he was subsequently responsible for the corporate restructuring and the compensation of the minority shareholders. Shire plc acquired the majority of Jerini AG's shares in July 2008 at a market capitalization of about € 500 million and completed incorporation in 2010. After this Christian von Volkmann founded and headed Berlin-based CMaP Financial Consulting, a corporate and project consultancy focusing on legal disclosure, stock exchange listing requirements, plus strategic and operational management consultancy. Prior to his position at Jerini, Christian von Volkmann worked at the auditing company Ernst & Young for six years. He holds a diploma of the Julius-Maximilians-Universität Würzburg, where he studied business administration with a focus on taxation, audit and consultancy as well as bank administration and Corporate Finance. He is also a licensed Certified Public Accountant in the US.

About MagForce AG
MagForce AG is a leading medical technology company in the field of nanomedicine in oncology. The Company's proprietary, NanoTherm® therapy, enables the targeted treatment of solid tumors through the intratumoral generation of heat via activation of magnetic nanoparticles. NanoTherm®, NanoPlan®, and NanoActivator(TM) are components of the therapy and have received EU-wide regulatory approval as medical devices for the treatment of brain tumors. MagForce, NanoTherm®, NanoPlan®, and NanoActivator(TM)are trademarks of MagForce AG in select countries. For more information, please visit www.magforce.com.

Disclaimer
This release may contain forward-looking statements and information which may be identified by formulations using terms such as "expects", "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 AG may substantially differ from these forward-looking statements. MagForce AG assumes no obligation to update these forward-looking statements or to correct them in case of developments, which differ from those, anticipated.

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