News

Medafor Recognized as One of Minneapolis’ Fastest-Growing Privat (2011-10-20)

Magle is happy to announce that our partner Medafor Inc has been recognized on the Minneapolis / St Paul Business Journal’s annual “Fast 50” list, which honors the 50 fastest-growing private companies in the Minneapolis and St Paul region. Medafor is ranked 17 of 50 based on its three-year aggregate growth of 95.84%. We see this as yet another confirmation that Magle’s investment in research concerning products for hemostasis is greatly appreciated by physicians and patients around the world. The hemostasis market is growing rapidly and we are very happy to have Medafor on our side on this exciting journey. For more details, please visit http://medafor.com/newsandevents/news-20111013.aspx.

Magle forges partnership to evolve DSM for embolization therapy (2010-08-15)

Together with a partner (name not disclosed at this time), Magle is developing a new type of DSM to serve an increasing demand for efficient and safe products for embolization therapy. Magle’s CEO comments: “We see a growing activity in this market and a trend towards more frequent use of embolic material in for example minimally invasive treatment of liver tumours and uterine fibroids. We identified this field early on as a great opportunity for expansion and where we feel our products really can make a difference in the market.” Magle’s CSO comments: “Combining our core DSM know-how and technology with our partner’s great insight in this market and ideas on valuable product characteristics, we are sure we can bring something entirely new to this field.”

Magle expands R&D capabilities (2010-08-01)

With the growing pipeline of projects and increased collaboration with our partners, Magle is proud to announce the recruitment of 3 new Research Scientists to our R&D group in Kristianstad. The new employees come directly from equivalent positions at Astra Zeneca in Lund. Magle’s CEO comments: “It is of course very sad that Astra Zeneca is shutting down its facilities in Lund, but at the same time this creates a great opportunity for other companies in the area to attract highly skilled professionals. All three have played important roles in their groups at Astra and they all come highly recommended by both colleagues and former superiors. Just as importantly, they have already proven that they fit well within the group. Maintaining good group dynamics and the positive working atmosphere in Magle is a valued asset we will safeguard as we expand the company further. We are very happy to have the three on board and certain they will add value to our core technology and development.”

Magle launches a new Phadebas® product (2010-07-05)

Magle’s newest addition to the Phadebas® family of products is the Phadebas Honey Diastase Test (PHDT). Intended for determination of α-amylase (diastase) activity in honey samples, PHDT fits the method described and recommended by the International Honey Commission (IHC). To meet the demand from honey analysing labs, Magle has developed PHDT, a product that mimics the behaviour of the batch used in the original IHC study. The result is a product with very narrow specifications wherein all batches of PHDT will behave alike and adhere to the set of equations in the IHC guidelines. PHDT does not come with a standard curve but only a leaflet with instructions for use including the IHC guidelines. To simplify the use, a table for instant activity reading is provided. PHDT is a highly cost effective alternative to the Schade method, offering better precision; improved selectivity; fewer reagents and steps and a decreased labour time. Magle expects the new product to take a dominant global market share and rapidly become an important contribution to the Phadebas portfolio.

Magle receives R&D funding from VINNOVA (2010-06-01)

In support of Magle’s development of new and advanced products for wound healing, the Swedish Governmental Agency for Innovation Systems, VINNOVA, has granted Magle a 2 MSEK funding. Since 2007, Magle has collaborated with research groups in Swedish Universities to better understand the complexity of the wound healing processes. To support and confirm our suppositions, in-vitro cell models and animal studies have been conducted. The results from these collaborations are very promising which is why we are now stepping up our efforts to develop novel DSM wound healing products able to accelerate healing, reduce pain and secure wound closing with less scarring. The project will have a certain emphasis on Negative Pressure Wound Therapy as this is a rapidly emerging field in wound therapy and that DSM material seems especially useful under negative pressure as a wound contact layer.

Magle signs Long-Term Agreement with Medafor Inc. (2010-03-12)

LUND and MINNEAPOLIS - Magle announced today that it has signed a long-term raw material supply agreement with our partner Medafor, Inc. Magle manufactures and supplies to Medafor degradable starch microspheres (DSM-A) specified and tailor made to achieve rapid hemostasis in the human body. The material is a key component for Medafor’s patented MPH® surgical product, which is used by surgeons to control bleeding in complex surgical operations. Gary Shope, CEO of Medafor, said, “Magle is an important partner in the ongoing development of our unique hemostatic product, and we are delighted to continue our relationship with them. This agreement ensures that Medafor will have a quality supply from a strong, reliable partner as we further our global growth strategy and continue providing this valuable technology to surgeons, hospitals and patients all over the world.” Under the agreement, Magle will continue to exclusively supply Medafor with the DSM-A product for the next ten years and has transferred ownership rights to the DSM-A technology and manufacturing process to Medafor in exchange for cash and 1.8 million shares of Medafor common stock. Other specific terms of the agreement are confidential. Eddie Thordarson, CEO of Magle, commented, “We are thrilled to continue our partnership with Medafor and its outstanding management team. This important transaction assures that the talented people at Magle and Medafor can continue to engage in a long-term collaborative effort to develop and enhance applications of the MPH product.” Medafor's patented MPH absorbable hemostatic agent is a plant-based microporous, polysaccharide, flowable powder that is instantly ready to use, requires no mixing, no addition of patient blood or other components and no special handling or storage conditions. About Medafor Inc. Medafor is a privately held Minnesota corporation based in Minneapolis. Medafor was founded to develop applications and markets for its patented, plant-based, flowable hemostatic powder technology. MPH(r) is a microporous, polysaccharide hemostatic agent that is engineered to rapidly dehydrate blood and accelerate clotting. Medafor received FDA approval for surgical use in 2006 and has held a CE Mark approval since 2003. For further information about Medafor Inc. see the website www.medafor.com.

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