Tek Grup has entered into an agreement to distribute MagForce's NanoTherm therapy in Turkey, Albania, Iraq and Azerbaijan.
The NanoTherm therapy is designed for the local treatment of solid tumors.
As per the agreement, Tek Grup is also responsible for obtaining marketing authorization of NanoTherm therapy for the treatment of brain tumors in these regions.
Upon an equivalent approval of the NanoTherm therapy in the European Union, the scope of the agreement will be extended to other tumor indications.
Tek Grup board member Hasan Karagoz said the company see great potential for MagForce’s technology in its key markets in Turkey, Iraq, Albania and Azerbaijan.
"Preliminary feedback from our medical advisors in oncology therapy has been extremely positive and we are excited to establish NanoTherm therapy in those regions," Karagoz added.