TIDMMEDG TIDMMEDU
RNS Number : 9158K
Medgenics Inc
28 August 2012
Press Release 28 August 2012
Medgenics Mourns the Loss of Board Member Gary Brukardt
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 the passing of Director Gary Brukardt
on Tuesday, August 21, 2012. Mr. Brukardt, age 66, had served on
the Company's Board of Directors since 2006 and was a member of the
Audit Committee and the Nominating and Corporate Governance
Committee.
"We are deeply saddened by the sudden and untimely passing of
Gary Brukardt, our esteemed colleague and friend. Gary was
dedicated to the success of Medgenics and his insight, energy and
judgment as a Director made him an integral part of our leadership
team," stated Andrew L. Pearlman, Ph.D., President and Chief
Executive Officer of Medgenics. "On behalf of the Board of
Directors and all of Medgenics, we offer our condolences to his
family. Our thoughts and sympathies are with them at this difficult
time."
Mr. Brukardt had more than 30 years of experience in the
healthcare industry. He was a founder of SpecialtyCare and served
as its Chairman and CEO until his passing. Under his leadership
SpecialtyCare became the premier provider of outsourced clinical
services, supporting 322,000 surgical procedures annually at more
than 760 hospitals.
Previously he was EVP and COO of Renal Care Group, after which
time he served as its President and CEO. Renal Care Group provided
dialysis services to more than 32,500 patients at more than 450
outpatient dialysis facilities. Mr. Brukardt led Renal Care Group's
$3.5 billion acquisition by Fresenius Medical Care in March 2006,
which resulted in the creation of the world's largest integrated
provider of dialysis services.
Earlier in his career he was EVP of Baptist Health Care
Affiliates while also serving as Chairman of HealthNet Management,
Inc., a managed care services company.
Mr. Brukardt was raised in De Pere, Wisconsin and, following
service in the U.S. Army, graduated from the University of
Wisconsin Oshkosh with a Bachelor of Arts in International Studies.
He received a Masters of Business Administration in International
Management from Thunderbird School of Global Management in
Glendale, Arizona.
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
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
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 -
This information is provided by RNS
The company news service from the London Stock Exchange
END
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