TIDMMEDG TIDMMEDU
RNS Number : 7181R
Medgenics Inc
21 November 2012
Press Release 21 November 2012
Medgenics, Inc.
("Medgenics" or "the Company")
Medgenics Granted U.S. Patent for Core Technology Used in
Sustained Delivery of Erythropoietin, Aimed at Multi-Billion Dollar
Anemia Market
U.S. Patent and Trademark Office also allowed key claims
protecting similar method for delivery of clotting Factor VIII
aimed at sustained treatment of hemophilia
Medgenics, Inc. (NYSE Amex: 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, today announced a patent granted by the U.S.
Patent and Trademark Office ("USPTO") protecting the use of
Medgenics' EPODURE Biopump technology for delivery of
erythropoietin ("EPO"). Medgenics is developing EPODURE to address
the need for safer, sustained treatment of anemia. The USPTO also
allowed claims covering a similar method for delivery of clotting
Factor VIII, underlying Medgenics' HEMODURE(TM) Biopump technology
for sustained prophylactic treatment of hemophilia.
Similar claims covering EPODURE and HEMODURE have also been
recently allowed in Japan, China, Korea and Australia.
In total, Medgenics' global portfolio now includes 36 patents
issued, with 81 more pending.
Medgenics believes its approach to protein therapy has multiple
benefits compared with current treatments, which include regular
and costly injections of therapeutic proteins. Medgenics'
technologies target the global protein therapy market which is
forecast to reach $132 billion in 2013.
"As we continue to progress in our clinical trials and move
forward in our business development efforts, the protection of our
intellectual property becomes critical. We believe that receiving
method patents and allowance of key claims for our Biopump(TM)
system for the production and delivery of EPO and Factor VIII
proteins increases the value of our intellectual property assets
and our company," stated Andrew L. Pearlman, Ph.D., President and
Chief Executive Officer of Medgenics.
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 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 is currently in a Phase IIa trial in dialysis
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, which has
received approval for two Phase I/II trials in in hepatitis C from
the Israeli Ministry of Health with the first slated to commence in
Q4 2012; and has 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 7718
Adam Michael
Joanne Shears
Jamie Hooper
Harriet Rae
mailto:harriet.rae@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
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