Medgenics Inc Admission of Shares (1707H)

TIDMMEDG TIDMMEDU

RNS Number : 1707H

Medgenics Inc

09 July 2012

 
 Press Release   9 July 2012

Medgenics, Inc.

("Medgenics" or the "Company")

Admission of Shares

Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG), the developer of a novel Biopump(TM) technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, today announced that application has been made for the 1,944,734 shares of Common Stock, issued pursuant to the fundraising announced on 19 June 2012, to be admitted to AIM and commence trading on 10 July 2012.

- Ends -

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

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, has demonstrated elevation and stabilization of hemoglobin levels in anemic patients for six to more than 36 months in a Phase I/II dose-ranging trial, and has received approval of 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 two Phase I/II trials in Israel in hepatitis C, slated to commence in Q3 2012, and is filed for Orphan Drug Designation with the FDA to treat hepatitis D.

-- 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.

This information is provided by RNS

The company news service from the London Stock Exchange

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