MEDG Medgenics(Regs)

RNS Number:2055S
Medgenics Inc
14 April 2008

                                Medgenics, Inc.
                         ("Medgenics" or the "Company")


                                RESEARCH UPDATE


  Medgenics on target to start Phase I/II clinical trials with EPODURE protein
                    therapy for anaemia mid-2008 as planned


Misgav, Israel and London, UK - 14 April 2008 - Medgenics (AIM: MEDG), the
US-incorporated biopharmaceutical company, is pleased to provide an update on
progress towards the start of its Phase I/II clinical trials with EPODURE, its
lead sustained-action protein therapy for producing and delivering
erythropoietin (EPO) to treat anaemia.

The Company continues to make excellent progress with its preparations to
commence Phase I/II trials of EPODURE and remains confident it will begin these
trials by mid-2008 as planned.  In addition, Medgenics expects to obtain the key
initial safety and proof of efficacy data for EPODURE within 3-5 months after
the trial commences.

Medgenics submitted its application for approval of the Phase I/II trials of its
EPODURE protein therapy to the Israel Ministry of Health (MoH) in February 2008.
The application is currently in active review by MoH and Medgenics anticipates
that approval will be obtained in good time to enable the trials to commence
mid-year. EPODURE is Medgenics' lead product in development, designed to provide
a sustained-action protein therapy for producing and delivering EPO continuously
for a period of 4-6 months or longer to treat anaemia in patients with chronic
kidney disease.

The Phase I/II clinical trials are designed to generate key initial safety and
proof of efficacy data for EPODURE, and are planned to take place at the
Hadassah Hospital in Jerusalem, Israel. In September 2007, Medgenics received
initial approval of its trial protocol from the Ethics Committee of Hadassah
Hospital, conditional upon final approval from MoH.

Medgenics' application for approval of the trials parallels the Company's
achievement of several important milestones in recent months, which are crucial
to allow the trial to begin:


1.       The successful manufacture of the key "gutless" adenoviral vector in a
GMP ("Good Manufacturing Practice") vector production facility. This vector, now
in the last phases of external testing, has passed the Company's internal tests,
in which it was used to prepare EPODURE biopumps from human dermis "micro-organs
" to produce sufficient daily amounts of EPO to meet the Company's requirements
for use in the trial.

2.       Completion of the design, fabrication and evaluation of the key
proprietary devices it will use for harvesting patient micro-organs and
implanting biopumps, including EPODURE, back into patients.

3.       The recruitment of key additional scientific and engineering personnel,
increasing the staff complement from four at Admission to ten now, in accordance
with its plan and preparations for the Phase I/II clinical trial for EPODURE.

4.       The relocation of the Group's operations to a new facility on the
Teradion Business Park in Misgav, thereby bringing all operations under one
roof.



Dr. Andrew Pearlman, Medgenics' CEO, said:


"Since Admission to AIM in December 2007, preparations for the Phase I/II
clinical trials of our EPODURE biopump technology for treating anaemia have gone
very well. The successful results we hope and believe we will achieve in these
trials will be a transforming event for Medgenics and we are confident that,
subject to timely approval by the Israel Ministry of Health, they will start as
planned in the middle of the year."


                                      ####


For further information, contact:

Medgenics, Inc.                                        Phone: +972 4 902 8900
Dr. Andrew L. Pearlman


Citigate Dewe Rogerson                                 Phone: +44 207 638 9571
Dr. Mark Swallow
Jonathan Shillington (Global Consulting Group)


Blomfield Corporate Finance Limited                    Phone: +44 207 512 0191
James Pinner
Alan MacKenzie




NOTES TO EDITORS:

About Medgenics

Medgenics, Inc. is a biopharmaceutical company developing its unique
tissue-based Biopump platform technology to provide sustained-action protein
therapy for the treatment of a range of chronic diseases.

Medgenics currently has two products in development based on this technology:


*  EPODURE - producing erythropoietin (EPO) to treat anaemia

*  INFRADURE - producing interferon-alpha (IFN-alpha) to treat
   hepatitis C


The Company has demonstrated proof of principle of the Biopump treatment
procedure in a clinical trial using a short-acting version of EPODURE in anaemic
patients. A long-acting version of EPODURE, designed to produce and deliver a
therapeutic dose of EPO steadily for six months or more, is scheduled to enter
Phase I/II trials in mid-2008. The Company plans to follow with clinical trials
of INFRADURE in 2009.

Medgenics intends to develop its innovative products and bring them to market
via multiple strategic partnerships with major pharmaceutical and/or medical
device companies, starting with EPODURE and INFRADURE.

Beyond these, Medgenics plans to develop and/or out-license a pipeline of future
Biopump products targeting the large and rapidly growing global protein therapy
market, which is forecast to reach US $87 billion by 2010. Other potential areas
include multiple sclerosis (interferon-beta, haemophilia (Factor XIII),
paediatric growth hormone deficiency (human growth hormone) and diabetes
(insulin).

Founded in 2000, Medgenics is a US-incorporated company with major operations in
Misgav, Israel. Medgenics was admitted to AIM in December 2007 (AIM: MEDG).


www.medgenics.com


CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements, which include all statements
other than statements of historical fact, including (without limitation) those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations. These statements relate to
future events, prospects, developments and strategies. Forward-looking
statements are sometimes identified by their use of the terms and phrases such
as "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning,
"expect," "believe," "will," "will likely," "should," "could," "would," "may" or
the negative of such terms and other comparable terminology. All such
forward-looking statements are based on current expectations and are subject to
risks and uncertainties. Should any of these risks or uncertainties materialize,
or should any of the Company's assumptions prove incorrect, actual results may
differ materially from those included within these forward-looking statements.
Accordingly, no undue reliance should be placed on these forward-looking
statements, which speak only as of the date made. The Company expressly
disclaims any obligation or undertaking to disseminate any updates or revisions
to any forward-looking statements contained herein to reflect any change in the
Company's expectations with regard thereto or any change in events, conditions
or circumstances on which any such statements are based. As a result of these
factors, the events described in the forward-looking statements contained in
this release may not occur.



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