Medgenics Appoints Dr Stephen Ettinger to SAB
September 02 2010 - 4:19AM
UK Regulatory
TIDMMEDG
RNS Number : 0329S
Medgenics Inc
02 September 2010
2 September 2010
Medgenics, Inc.
("Medgenics" or the "Company")
Medgenics appoints world leading veterinary expert, Dr. Stephen Ettinger
to Strategic Advisory Board
Misgav, Israel and London, UK - 2 September, 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 the appointment to the Company's Strategic
Advisory Board of Dr. Stephen Ettinger, a world-renowned expert in veterinary
medicine, who has held senior lecturing positions in many top universities and
had over 150 books and papers published, with over 40 years of experience.
Among his many honours and committee recognitions, Dr. Ettinger sits on the
Board of Trustees at Cornell University and holds memberships at the California
Veterinary Medical Association, the American College of Cardiology and the
American Heart Association. Dr. Ettinger's appointment reflects the Company's
decision to expand its Strategic Advisory Board to include members possessing a
wider range of professional and commercial skills that will be required going
forward, and to explore new directions and strategies for its Biopump
technology.
Commenting on the appointments, Dr. Andrew Pearlman, CEO of Medgenics said: "The
appointment of Dr Ettinger to the advisory board is an important strategic move
for Medgenics as it opens the possibility of extending application of our
Biopump platform techonology into veterinary medicine. While the process for
manufacture and insertion of Biopumps is similar for animals and for humans, the
regulatory route is much less arduous, possibly offering our Company earlier
revenue-generating products. In addition to his eminence in veterinary
medicine and academics, Dr. Ettinger will enhance Medgenics' contacts in the
pharmaceutical world. His addition to our Strategic Advisory 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 personalized approach to the broad and growing protein therapeutic market."
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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