Allowance Received for Key European Patent (9129V)
January 20 2012 - 10:00AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 9129V
Medgenics Inc
20 January 2012
Press Release 20 January 2012
Medgenics Receives Allowance for Key European Patent
Follows Similar U.S. Patent for Biopump Protein Therapy
Technology and Expands Intellectual Property Portfolio
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG), the
developer of a novel technology for the sustained production and
delivery of therapeutic proteins in patients using their own
tissue, today announced that the Company received notice of
'Intention to Grant' from the European Patent Office for the patent
application entitled "USE OF DERMAL MICRO ORGANS," with allowed
claims covering a core element of its Biopump(TM) protein therapy
technology.
A counterpart patent in the United States was issued in December
2008, with rights extending to November 2023. The patent estate
covering the Biopump includes compositions, methods of use and
methods of manufacture, and includes issued patents in the United
States, as well as pending applications in the United States and
various foreign jurisdictions.
Commenting on the European patent allowance, Andrew L. Pearlman,
Ph.D., President and Chief Executive Officer of Medgenics, said:
"We will be delighted to add this European patent to our growing
intellectual property portfolio. This patent is important as it
protects key elements of our protein production technology. These
claims provide significant protection for our proprietary
technology and create significant barriers of entry to any would-be
competitors."
"Medgenics has pioneered the development of sustained production
and delivery of therapeutic proteins using the patient's own intact
tissue, which is a key differentiating factor of our technology.
This patent, like its counterpart U.S. patent, is critical to
protecting this unique tissue technology and its resulting protein
production capabilities," added Dr. Pearlman.
About Medgenics
Medgenics is developing and commercializing Biopump(TM), a
proprietary tissue-based platform technology for the sustained
production and delivery of therapeutic proteins using the patient's
own skin biopsy for the treatment of a range of chronic diseases
including anemia, hepatitis C and hemophilia. Medgenics believes
this approach has multiple benefits compared with current
treatments, which include regular and costly injections of
therapeutic proteins.
Medgenics has three long-acting protein therapy products in
development based on this technology:
-- EPODURE (now completing a Phase I/II dose-ranging trial) to
produce and deliver erythropoietin for many months from a single
administration, has demonstrated elevation and stabilization of
hemoglobin levels in anemic patients for six to more than 36
months;
-- INFRADURE (planning to commence a Phase I/II trial in Israel
in 1H12 in hepatitis C) to produce a sustained therapeutic dose of
interferon-alpha for use in the treatment of hepatitis;
-- HEMODURE is a sustained Factor VIII therapy for the
prophylactic treatment of hemophilia, now in development.
Medgenics intends to develop its innovative products and bring
them to market via strategic partnerships with major pharmaceutical
and/or medical device companies.
In addition to treatments for anemia, hepatitis and hemophilia,
Medgenics plans to develop and/or out-license a pipeline of future
Biopump(TM) products targeting the large and rapidly growing global
protein therapy market, which is forecast to reach $132 billion in
2013. Other potential applications for Biopumps(TM) include
multiple sclerosis, arthritis, pediatric growth hormone deficiency,
obesity and diabetes.
Forward-looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E
of the Securities Exchange Act of 1934 and as that term is defined
in the Private Securities Litigation Reform Act of 1995, which
include all statements other than statements of historical fact,
including (without limitation) those regarding the Company's
financial position, its development and business strategy, its
product candidates and the plans and objectives of management for
future operations. The Company intends that such forward-looking
statements be subject to the safe harbors created by such laws.
Forward-looking statements are sometimes identified by their use of
the terms and phrases such as "estimate," "project," "intend, "
"forecast," "anticipate," "plan," "planning, "expect," "believe,"
"will," "will likely," "should," "could," "would," "may" or the
negative of such terms and other comparable terminology. All such
forward-looking statements are based on current expectations and
are subject to risks and uncertainties. Should any of these risks
or uncertainties materialize, or should any of the Company's
assumptions prove incorrect, actual results may differ materially
from those included within these forward-looking statements.
Accordingly, no undue reliance should be placed on these
forward-looking statements, which speak only as of the date made.
The Company expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
As a result of these factors, the events described in the
forward-looking statements contained in this release may not
occur.
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
Andrew.pearlman@medgenics.com
LHA Phone: 212-838-3777
Anne Marie Fields
afields@lhai.com
Abchurch Communications Phone: +44 207 398 7719
Adam Michael
Joanne Shears
Jamie Hooper
jamie.hooper@abchurch-group.com
Religare Capital Markets (NOMAD) Phone: +44 207 444 0800
Emily Staples
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
Nomura Code Securities (Joint Broker) Phone: +44 207 776 1219
Jonathan Senior
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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