Participation in Roth Conference and Other Matters (2059Z)

TIDMMEDG TIDMMEDU

RNS Number : 2059Z

Medgenics Inc

13 March 2012

 
Press Release  13 March 2012

MEDGENICS Announces Participation in Roth Conference and Other Matters

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 Andrew L. Pearlman, Ph.D., President and Chief Executive Officer of the Company, will deliver a corporate overview at the 24(th) Annual Roth Conference taking place March 11-14(th) at the Ritz Carlton in Dana Point, California. Dr. Pearlman will deliver his presentation on March 14(th) at 10:30 a.m. Pacific time.

The presentation will be webcast live and archived online at the Investors section of the Company's website at www.medgenics.comand at http://wsw.com/webcast/roth26/mdgn/.

The Company also reported that, consistent with its prior financial statements, its audited financial statements for the fiscal year ended December 31, 2011 included in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2012 contained a going concern qualification from its independent registered public accounting firm, Kost Forer Gabbay & Kasierer, a member of Ernst & Young Global. This announcement is in compliance with the NYSE Amex Company Guide Section 610(b), which requires separate disclosure of receipt of an audit opinion containing a going concern qualification. Medgenics continues as a development stage company, pursuing the development and commercialization of its Biopump(TM) Platform Technology, having expended $6.0 million on research and development during fiscal 2011. This announcement does not represent any change or amendment to the Company's consolidated financial statements or to its Annual Report on Form 10-K for the fiscal year ended December 31, 2011. Further information regarding the going concern qualification is contained in Medgenics' Annual Report on Form 10-K for the year ended December 31, 2011.

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 
       @LHA_IR_PR 
      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 -

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