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Frankfurt-based Nanostart begins trading ADRs on OTCQX trading system

Published: 00:48 22 Oct 2010 BST

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Nanostart AG, the Frankfurt-based nanotechnology investor, announced Thursday that it has begun trading its American Depositary Receipts (ADRs) in the United States on the quality-controlled OTCQX electronic trading platform, under the ticker symbol "NASRY".

ADRs are securities issued and held by a U.S. depositary bank, which certify ownership of the shares of an international company. Because they are U.S. domestic securities, ADRs are an alternative to direct ownership of foreign equities.

Through the ADR program, U.S. investors can gain access to foreign equities through their domestic market system.

Now, Nanostart can trade on the world's largest capital market during U.S. market hours, with pricing and settlement in U.S. dollars, giving the company exposure to a host of new investors. Ten Nanostart ADRs correspond to one Nanostart share, the company said.

“The admission of our ADRs for trading on the OTCQX offers many of the benefits of a full U.S. exchange listing, but without the associated high costs and legal burden,” said Nanostart CEO Marco Beckmann.

Frankfurt-based Nanostart has portfolio companies spanning the globe from Silicon Valley to Singapore, providing venture capital financing for nanotechnology businesses in various growth phases, with a focus on industries such as cleantech, life sciences and IT/electronics.

The tech investor has a 71% stake in MagForce Nanotechnologies AG, a company that develops nanotech-based cancer treatments, which use magnetic nanoparticles to destroy tumours, leaving minimal damage to surrounding healthy tissue. MagForce recently received approval for the medical use of its nanotherapy in the EU.

Nanostart also has a 50% interest in Holmenkol AG, a business that produces nanotech-based surface coatings for a wide range of sports applications.

Through its subsidiary and venture capital fund in Singapore, Nanostart is also an investment partner with the Singaporean government.

Nanostart was founded in 2003 and aside from its headquarters in Frankfurt, it has offices in Berlin, Germany and Singapore. The investor typically exits its investments through IPOs and acquisitions.

The depositary bank for the ADRs of Nanostart is Bank of New York Mellon.

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