Medgenics Inc Appointment of Joseph J. Grano to Board (7750Z)
March 12 2013 - 9:00AM
UK Regulatory
TIDMMEDG TIDMMEDU
RNS Number : 7750Z
Medgenics Inc
12 March 2013
Press Release 12 March 2013
Medgenics Appoints Former Chairman and CEO of UBS Financial
Services Joseph J. Grano, Jr. to Board of Directors
Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG)(the
"Company" or "Medgenics"), the developer of a novel platform
technology for the sustained production and delivery of therapeutic
proteins in patients using their own tissue, announces the
appointment of Joseph J. Grano, Jr. to the Company's Board of
Directors effective March 15, 2013. Mr. Grano's appointment fills
the vacancy resulting from Gary Brukardt's death in 2012.
Mr. Grano is Chairman and CEO of Centurion Holdings LLC, a
provider of advisory services to public and private clients on all
facets of business strategy and capital markets access. Previously
he was Chairman and CEO of UBS Financial Services Inc. (formerly
UBS/PaineWebber), subsequent to the merger between UBS and
PaineWebber in 2000. Prior to joining PaineWebber he held various
senior management positions at Merrill Lynch including Director of
National Sales.
"We are honored to welcome Joe Grano to our Board of Directors.
His considerable experience and business acumen will be invaluable
assets to Medgenics as we develop our proprietary Biopump
technology for the sustained production and delivery of therapeutic
proteins from the patients' own dermis. His wealth of knowledge
will be a welcome addition to our Board of leading business and
biotechnology executives," stated Andrew L. Pearlman, Chief
Executive Officer of Medgenics.
"I am delighted to be joining the Medgenics Board of Directors
at this exciting stage of its clinical development. The Biopump
technology represents a potential breakthrough in the way we treat
a number of chronic diseases and conditions. I am encouraged by the
multitude of opportunities this versatile platform technology can
address and look forward to helping Medgenics reach the next
level," commented Mr. Grano.
Mr. Grano is the former Chairman of the Board of Governors of
NASD and was a member of the NASD's Executive Committee. He was
appointed by President George W. Bush in 2002 to serve as the
Chairman of the Homeland Security Advisory Council, a position he
held until August 2005.
Mr. Grano was a captain in the U.S. Special Forces (Green
Berets), and is a member of the City University of New York's
Business Leadership Council and a former member of the National
Board of D.A.R.E. He holds honorary Doctor of Law degrees from
Pepperdine University and Babson College, as well as an honorary
Doctor of Human Letters degree from Queens College. He served on
the Board of Directors of the YMCA of Greater New York and of Lenox
Hill Hospital in New York City.
In connection with Mr. Grano's appointment, the Compensation
Committee of Medgenics' Board of Directors granted Mr. Grano an
inducement award consisting of stock options covering up to 300,000
shares of the Company's common stock, $0.0001 par value per share
("Common Stock"), at a per share exercise price of $4.99,
representing the closing price of the Common Stock on the last
trading day before the grant date. These options have a five-year
term, with 100,000 shares of Common Stock underlying such options
vesting immediately and the remaining underlying shares vesting
equally on March 15, 2014 and March 15, 2015, subject to his
continuous service through each vesting date. The Compensation
Committee of Medgenics' Board of Directors, which is comprised
solely of independent directors, granted this award on March 7,
2013 pursuant to a stand-alone award agreement outside of
Medgenics' Stock Incentive Plan as inducements material to Mr.
Grano's acceptance of his appointment to the Board of Directors in
accordance with Section 711 of the NYSE MKT Company Guide and
subject to approval of NYSE MKT of an additional listing
application covering the shares underlying such options.
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 tissue for the treatment of a range of chronic diseases
including anemia, hepatitis and hemophilia, among others. For more
information, visit the Company's website at www.medgenics.com.
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.
- Ends -
For further information, contact:
Medgenics, Inc. Phone: +972 4 902 8900
Dr. Andrew L. Pearlman
Andrew.pearlman@medgenics.com
LHA Phone: +1 212-838-3777
Anne Marie Fields
afields@lhai.com
Nomura Code Securities (NOMAD/Broker) Phone: +44 207 776 1219
Jonathan Senior
Giles Balleny
SVS Securities plc (Joint Broker) Phone: +44 207 638 5600
Alex Mattey
Ian Callaway
Abchurch Communications Phone: +44 207 398 7719
Adam Michael
Joanne Shears
Jamie Hooper
Jamie.hooper@abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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