TechCrunch
MagForce injects iron oxide nanoparticles into a patient and then vibrates them with a magnetic field to generate heat that helps kill cancer cells. It sounds like science fiction but it’s real. That’s why Peter Thiel‘s late-stage investment firm Mithril Capital just led a $15 million investment into MagForce’s new American subsidiary that values it at $65 million. Founded in 1997, MagForce is already listed on the Frankfurt stock exchange with $144 million market cap. The cash infusion will pay for the nanomedicine company to fund its development for use against more types of cancer, and the approval process in the United States. If MagForce’s NanoTherm treatment gets the greenlight in America, CEO Ben Lipps tells the company will IPO stateside.
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Nanomedicine Company MagForce Takes $15M From Thiel’s Mithril Capital
