TIDMMEDG TIDMMEDU
RNS Number : 3962G
Medgenics Inc
28 June 2012
Press Release 28 June 2012
Medgenics, Inc.
("Medgenics" or "the Company")
Exercise of Options
Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG), the
developer of Biopump(TM) , a novel technology for the sustained
production and delivery of therapeutic proteins in patients using
their own tissue, announces that on 21 June 2012 that Joel Kanter,
a Director of the Company, exercised 4,286 options at a price of
US$6.55 per share.
Following the above exercise, Mr. Kanter and his Related Parties
(as defined by the AIM rules) will be interested in 1,159,229
Common Shares representing 9.9 per cent of the issued share capital
and options and warrants over 128,180 Common Shares (in aggregate
interests in 1,287,409 Common Shares representing 11 per cent of
the issued share capital).
The Company also announces that on 22 June 2012 a trust for the
benefit of friends and family of Andrew L. Pearlman, its President
and Chief Executive Officer and a Director, has transferred by gift
16,200 warrants (with an exercise price of U.S. $2.49 per Common
Share) to subscribe for new Common Shares to four separate
individuals who are not immediate family of Dr. Pearlman. Dr.
Pearlman and his wife are the sole trustees of the transferee
trust.
After such gifts, Dr. Pearlman is interested in 35,375 Common
Shares(1) , 924,912 warrants(2) and 354,209 options to subscribe
for Common Shares:
(1) Including interests in 94 Common Shares held by family
members and 1,719 Common Shares held by ADP Holdings LLC, a company
in which Dr. Pearlman is interested.
(2) Includes warrants held by trusts for the benefit of Dr.
Pearlman's friends and family, for which Dr. Pearlman and his wife
are the sole trustees.
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, and hemophilia, among others.
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(TM) to produce and deliver erythropoietin for many
months from a single administration, which has demonstrated
elevation and stabilization of hemoglobin levels in anemic patients
for periods of six months to more than 36 months in a Phase I/II
dose-ranging trial in Israel and has received approval for a Phase
IIa trial in dialysis patients due to launch in Q2 2012 in Israel.
An Investigational New Drug application has been cleared by the FDA
to initiate a Phase IIb study to evaluate the safety and efficacy
of EPODURE in the treatment of anemia in dialysis patients in the
U.S.
-- INFRADURE(TM) for sustained production and delivery of
interferon-alpha for use in the treatment of hepatitis is awaiting
final approval of the Israeli Ministry of Health of two Phase I/II
trials in Israel in hepatitis C, slated to commence Q3 2012.
-- HEMODURE(TM) for sustained production and delivery of
clotting Factor VIII therapy for the sustained prophylactic
treatment of hemophilia is now in development.
Medgenics is focused on the development and manufacturing of its
innovative Biopumps, aiming to 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 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 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
Abchurch Communications Phone: +44 207 398 7719
Adam Michael
Joanne Shears
Jamie Hooper
jamie.hooper@abchurch-group.com
Nomura Code Securities. (NOMAD) Phone: +44 207 776 1200
Jonathan Senior
Giles Balleny
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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