Directors' Dealings
February 08 2010 - 2:00AM
UK Regulatory
TIDMMEDG
RNS Number : 7964G
Medgenics Inc
08 February 2010
Medgenics, Inc.
('Medgenics' or the 'Company')
8 February 2010
The Board of Medgenics announces that on 5 February 2010 it was informed that on
that same date three of the Company's directors entered into an irrevocable
agreement to purchase 192,591 common shares of US$ 0.0001 each ("Common Shares")
in the Company at a price of 6.5 pence per Common Share. Joel Kanter and his
related parties will acquire 48,148 Common Shares, Andrew Pearlman will acquire
48,148 Common Shares and Eugene Bauer will acquire 96,295 Common Shares for an
aggregate consideration of GBP12,518.
The Company is currently in the midst of a fund raising round which it hopes to
complete in the next few weeks. The Directors' purchase of Common Shares will be
completed at the same time as the Company's current placing closes and their
relevant shareholdings will be notified at such time.
For further information, contact:
+---------------------------------------------------------------------------+----------+
| | |
| Medgenics, Inc. Phone: +972 4 902 8900 | |
| Dr. Andrew L. Pearlman | |
| | |
| De Facto Communications Phone: +44 20 7861 3838 | |
| Mike Wort m.wort@defacto.com | |
| Anna Dunphy a.dunphy@defacto.com | |
| | |
| Grayling (Investor Relations - US) Phone: +1 646 284 9472 | |
| Leslie Wolf-Creutzfeldt lwolf-creutzfeldt@hfgcg.com | |
| | |
| Blomfield Corporate Finance Limited Phone: +44 207 444 0800 | |
| (Nominated Adviser) | |
| James Pinner | |
| Alan MacKenzie | |
| | |
| SVS Securities plc (Broker) Phone: +44 207 638 5600 | |
| Ian Callaway | |
| | |
| | |
+---------------------------------------------------------------------------+----------+
About Medgenics:
Medgenics is a clinical-stage 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. The Company currently
has three products in development based on this technology and addressing the
indications of:
- Anemia - using EPODURE, a Biopump producing erythropoietin (EPO)
- Hepatitis-C - using INFRADURE - a Biopump producing interferon-alpha (IFN-a)
- Hemophilia - using a Biopump to produce clotting Factor VIII
The Company's Phase I/II clinical trial using EPODURE to treat anemia in
patients with chronic kidney disease, has demonstrated proof of concept of the
Biopump. Designed to produce and deliver a therapeutic dose of EPO steadily for
six months or more, EPODURE Biopumps have already provided effective anemia
treatment in most of these patients for 6-12 months, even at the low
administered dose.
Medgenics intends to develop its innovative products and bring them to market
via multiple strategic partnerships with major pharmaceutical and/or medical
device companies. In addition to treatments for Anemia, Hepatitis-C, Hemophilia,
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 applications
of Biopumps producing various proteins include multiple sclerosis, arthritis,
pediatric growth hormone deficiency, obesity, and diabetes.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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