Medgenics Inc Exercise of Options (5343K)

TIDMMEDG TIDMMEDU

RNS Number : 5343K

Medgenics Inc

22 August 2012

 
 Press Release   22 August 2012

Medgenics, Inc.

("Medgenics" or "the Company")

Exercise of Options

Medgenics, Inc. (AIM: MEDU, MEDG and NYSE MKT: MDGN ), 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 16 and 17 August 2012 it was informed by Joel Kanter, a Director of the Company, that he exercised 48,803 options at a price of US$7.35 per share on 16 and 17 August 2012 for a total payment of $358,702.10 and that on 17 August 2012 it was informed by Stephen McMurray, a Director of the Company, that he exercised 33,052 options at a price of US$7.35 per share using the cashless exercise method and received 10,935 shares on 17 August 2012.

Following the above exercise, Mr. Kanter and his Related Parties (as defined by the AIM rules) will be interested in 1,223,335 Common Shares representing 10.1 per cent of the issued share capital and options and warrants over 94,377 Common Shares (in aggregate interests in 1,317,712 Common Shares representing 10.9 per cent of the issued share capital).

Following the above exercise, Dr. McMurray will be interested in 90,770 Common Shares representing 0.7 per cent of the issued share capital and options and warrants over 57,072 Common Shares (in aggregate interests in 147,842 Common Shares representing 1.2 per cent of the issued share capital).

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; and which received Orphan Drug Designation from the FDA for the treatment of 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.

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 
       Joint Broker) 
       Jonathan Senior 
       Giles Balleny 
      SVS Securities plc (Joint Broker)  Phone: +44 207 638 5600 
       Alex Mattey 
       Ian Callaway

- Ends -

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