Issue of Equity
August 12 2010 - 2:00AM
UK Regulatory
TIDMMEDG
RNS Number : 9504Q
Medgenics Inc
12 August 2010
Medgenics, Inc.
('Medgenics' or the 'Company')
Issue of equity
The Company announces that on 6 August 2010 it entered into an agreement with
The Nybor Group, Inc. to provide consultancy services and advice to the Company
with regard to its future fund raising endeavours. The consideration for such
services was the issuance of 150,000 common shares of par value $0.0001 each in
the Company ("New Common Shares") which have been issued and allotted
conditional upon admission to trading on AIM. Application will be made to the
London Stock Exchange for the New Common Shares to be admitted to trading on AIM
and admission is expected to commence on 18 August 2010."
For further information, please contact:
Andrew Pearlman +972 4 902 8900
CEO
Medgenics, Inc
Mike Wort / Anna Dunphy +44 207 861 3838
De Facto Communications
James Pinner / Derek Crowhurst +44 207 444 0800
Religare Capital Markets (Nomad)
Ian Callaway / Alex Mattey +44 207 638 5600
SVS Securities plc (Joint Broker)
Jonathan Senior +44 207 776 1219
Nomura Code (Joint Broker)
Notes to Editors:
About Medgenics:
Medgenics is a commercial -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 first revenue
generating commercial deal with a well known multinational pharmaceutical
company was negotiated in late 2009 and we look forward to generating additional
deals to further commercialise the Biopump platform technology.
Biopumps are made using needle biopsies taken from the lower layer of the
patient's skin under local anaesthetic, and processed during 10-14 days to
become 30 mm long tissue biofactories producing the required protein. The
requisite number of Biopumps are injected under the patient's skin to provide
sustained protein production and delivery for many months. The Company is
developing the Biopump to provide substantially greater safety and reliability
in protein treatment in a more cost effective manner than experienced with the
existing injected protein therapies. Medgenics currently has three products in
development based on this technology and addressing the indications of:
- Anaemia - using EPODURE, a Biopump producing erythropoietin (EPO)
- Hepatitis-C - using INFRADURE - a Biopump producing interferon-alpha (IFN-a)
- Haemophilia - using a Biopump to produce clotting Factor VIII
The Company's Phase I/II clinical trial using EPODURE to treat anaemia 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 anaemia
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 Anaemia, Hepatitis-C, and
Haemophilia, 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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