As one of the first applications of nanotechnology in medicine, a globally new nano-cancer therapy termed thermotherapy using magnetic nanoparticles or MagForce Nanotherapy was developed at the CharitГ© - University Hospital Berlin, Germany in more than 10 years of basic research. This new approach involves direct instillation of a magnetic fluid (specifically coated magnetic nanoparticles in an aqueous dispersion) into a tumor and subsequent heating in an alternating magnetic field. This technique allows targeting of almost every part of the human body with millimeter precision and maximum tumor-cell specificity at temperatures ranging from 43-46C (hyperthermia) to 47-70Р°C (thermoablation).

The companies MFH Hyperthermiesysteme GmbH and MagForce Applications GmbH, Berlin, Germany have been working on this scientific approach since 1997 to develop ready-to-use medical products. The technology has been applied in several clinical trials at the CharitГ© Hospital Berlin and the Bundeswehrkrankenhaus Berlin since March 2003.
For a joint financial and marketing strategy a finance holding named MFH Magnetic Fluid Hyperthermia GmbH, was founded in 2002. Following the successful completion of the second financial round in July 2004, Nanostart Investments AG became shareholder of this company and all three historically evolved companies were unified under the new name MagForce Nanotechnologies AG with the aim of further upgrading efficiency and growth in the international nanotechnology market.