Fundraising Update
September 22 2010 - 7:00AM
UK Regulatory
TIDMMEDG
RNS Number : 1108T
Medgenics Inc
22 September 2010
Medgenics, Inc.
('Medgenics' or the 'Company')
Fundraising update
22 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 pleased to announce that, further to the
announcements dated 24 August 2010 and 15 September 2010, it has now received
firm commitments, on the terms announced on 24 August 2010, to subscribe for the
proposed new convertible debentures in excess of the $3 million originally
envisaged.
The Directors expect to raise $4 million through this debenture issue by the end
of this week. The Company will announce the final result of the debenture round
at such time.
For further information, contact:
+--------------------------------------+------------------------+
| Medgenics, Inc. | Phone: +972 4 902 8900 |
| Dr. Andrew L. Pearlman | |
| | |
+--------------------------------------+------------------------+
| Religare Capital Markets (Nominated | Phone: +44 207 444 |
| Adviser) | 0800 |
| James Pinner | |
| Derek Crowhurst | |
| | |
+--------------------------------------+------------------------+
| SVS Securities plc (Joint Broker) | Phone: +44 207 638 |
| Ian Callaway | 5600 |
| | |
+--------------------------------------+------------------------+
| Nomura Code Securities PLC (Joint | Phone: +44 207 776 |
| Broker) | 1219 |
| Jon Senior | |
| | |
+--------------------------------------+------------------------+
| De Facto Communications | Phone: +44 20 7861 |
| Mike Wort | 3838 |
| Anna Dunphy | |
| | |
+--------------------------------------+------------------------+
| Grayling (Investment Relations - US) | Phone: +1 646 284 |
| Leslie Wolf-Creutzfeldt | 9472 |
+--------------------------------------+------------------------+
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.
For more information please visit: www.medgenics.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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