Directorate Change
August 23 2010 - 2:00AM
UK Regulatory
TIDMMEDG
RNS Number : 4394R
Medgenics Inc
23 August 2010
Medgenics, Inc.
("Medgenics" or the "Company")
Directorate Change
Former Johnson & Johnson Executive Dr. Alastair Clemow
appointed to Medgenics Board of Directors
Misgav, Israel and London, UK - 23 August 2010 - Medgenics, Inc. (AIM: MEDG,
MEDU), the company that has developed a novel technology for the manufacture and
delivery of therapeutic proteins continuously in patients using their own
tissue, is delighted to announce that Dr. Alastair Clemow, a former Johnson &
Johnson Vice President of Business Development, has been appointed to the Board
of Directors with effect from 18 August 2010, where he will assume the board
seat left vacant following the passing of the late Lord Leonard Steinberg.
Dr. Clemow, originally from the UK and now resident in New Jersey, USA, brings
30 years of experience in the healthcare industry, including 20 years in product
and business development with Johnson & Johnson from 1981 to 2000 where he held
various positions, including Vice President of Worldwide Business Development
for Ethicon Endo-Surgery Inc., Vice President of New Business Development for
Johnson & Johnson Professional Inc. and Director of Research and Development of
Johnson & Johnson Orthopedics.
Dr. Clemow has also served in numerous senior management positions, including
President & CEO of Gelifex, Inc, President & CEO of Nexgen Spine, Inc. and is
currently President & CEO of Regentis Biomaterials Limited, a tissue repair
company in Israel. He has held board positions with protein therapeutic company
Prolor Biotech, Inc. (AMEX: PBTH), Encore Medical, Inc. and HydroCision, Inc..
Dr. Clemow holds B.Sc. and Ph.D. degrees in Metallurgy from the University of
Surrey and an MBA in Finance from Columbia University.
Commenting on the appointment, Dr. Andrew Pearlman, CEO of Medgenics, said: "The
appointment of Dr. Clemow brings not only his extensive background in healthcare
fields, from medical devices and biomaterials to protein therapeutics, but also
his experience and relationships within the pharmaceutical and hospital product
industries. Dr. Clemow's broad experience encompasses both senior management in
product and business development, and directorships in companies spanning a
range of healthcare technologies. His addition to our Board will strengthen our
team as we move forward towards strategic partnerships and the development of
commercial versions of our Biopump platform technology to bring this exciting
new personalized therapeutic approach to the broad and growing protein
therapeutic market."
Formal Disclosure
The Company makes the following formal disclosure in connection with the
appointment of Dr. Clemow:
Full name: Alastair John Tanton Clemow
Age: 59
Directorships or partnerships held in the previous 5 years:
+------------------------------------+------------------------+
| Current Directorships | |
| | |
+------------------------------------+------------------------+
| BioMedical Enterprises Inc | |
+------------------------------------+------------------------+
| Nexgen Spine, Inc | |
+------------------------------------+------------------------+
| Regentis Biomaterials, Ltd | |
+------------------------------------+------------------------+
| Kinetic Muscles, Inc. | |
+------------------------------------+------------------------+
| | |
+------------------------------------+------------------------+
| Past Directorships | |
| | |
+------------------------------------+------------------------+
| HydroCision Inc | |
+------------------------------------+------------------------+
| Encore Medical Inc. | |
+------------------------------------+------------------------+
| Echo Healthcare Acquisition Corp | |
+------------------------------------+------------------------+
| Modigene, Inc. | |
+------------------------------------+------------------------+
Save as disclosed above, there is no other information required to be disclosed
under Schedule 2, paragraph (g) of the AIM Rules for Companies.
For further information, contact:
+----------------------------------+--------------------------+
| Medgenics, Inc. | Phone: +972 4 902 8900 |
| Dr. Andrew L. Pearlman | |
| | |
+----------------------------------+--------------------------+
| De Facto Communications | Phone: +44 207 861 3838 |
| Mike Wort | |
| Anna Dunphy | |
| | |
+----------------------------------+--------------------------+
| Religare Capital Markets (Nomad) | Phone: +44 207 444 0800 |
| James Pinner | |
| Derek Crowhurst | |
| | |
+----------------------------------+--------------------------+
| SVS Securities plc (Joint | Phone: +44 207 638 5600 |
| Broker) | |
| Alex Mattey | |
| Ian Callaway | |
| | |
+----------------------------------+--------------------------+
| Nomura Code Securities (Joint | Phone: +44 207 776 1219 |
| Broker) | |
| Jonathan Senior | |
| | |
| | |
+----------------------------------+--------------------------+
Notes to Editors:
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, 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 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 $95 billion by the end of 2010. Other
potential applications of Biopumps producing various proteins include multiple
sclerosis, arthritis, paediatric 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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