Medgenics Inc Medgenics Reports Positive Data At ESGCT Congress (4843R)

TIDMMEDG TIDMMEDU

RNS Number : 4843R

Medgenics Inc

28 October 2013

 
 Press Release   28 October 2013

Medgenics Reports Positive Data with Second-Generation Viral Vectors at European Society of Gene and Cell Therapy Congress

Second-generation gene therapy vectors demonstrate improved levels and durability of therapeutic protein secretion in vitro and in vivo

Plans to initiate confirmatory human trials in the first half of 2014

Medgenics, Inc. (NYSE MKT: MDGN and AIM: MEDU, MEDG) ("the Company"), the developer of a novel technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announces that new, positive data on the Company's second-generation viral vectors were highlighted in a poster presentation at the European Society of Gene and Cell Therapy Congress. The poster in its entirety can be viewed at www.medgenics.com.

Entitled "Second generation EPODURE Biopump(TM) markedly extends duration of EPO delivery in mice could prolong therapeutic effect in patients," the poster was presented yesterday by Reem Miari, MSc and Dr. Nir Shapir of Medgenics, and study authors. This new study showed that the Company's second-generation gene therapy vectors provided substantial improvements in levels and durability of therapeutic protein secretion in vitro and in vivo. In addition, the new vectors incorporated improvements in surgical technique, including co-administration of Depo-Medrol(R) (methylprednisolone acetate) on implantation. More specifically, when Depo-Medrol was applied to second generation vectors, animals serum hEPO levels remained 40-50 fold higher for over 100 days post implantation when compared to first generation vector with no Depo-Medrol.

The Company plans to initiate human trials with a Biopump containing the second generation viral vector and new implantation protocol in the first half of 2014.

"These new data are compelling and provide additional evidence of our success in advancing the Biopump technology while improving performance and handling," said Dr. Garry Neil, Global Head R&D at Medgenics. "The second-generation viral vectors show potential to substantially increase the duration of the protein secretion of the Biopump with enhanced surgical techniques. These advances can be clinically meaningful, particularly for patients on chronic protein therapy. Based on these results we plan to accelerate our development work, and will advance the second-generation vectors into human clinical trials."

"We are delighted to have these preliminary data on our second-generation Biopump presented at this prestigious scientific meeting," said Michael Cola, President and Chief Executive Officer of Medgenics. "The Biopump technology platform, which produces therapeutic proteins in the body using a small tissue explant from the patient's own skin, holds significant clinical opportunity in a variety of indications. We are very encouraged by these data as the enhanced viral vectors may improve the surgical procedure and prolong the therapeutic effect in patients."

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 and hepatitis, among others. For more information, please visit 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.

Contacts:

 
 LHA 
  Anne Marie Fields, 
  afields@lhai.com 
  @LHA_IR_PR                                    212-838-3777 
 Abchurch Communications 
  Joanne Shears / Jamie Hooper / Harriet 
  Rae 
  harriet.rae@abchurch-group.com            +44 207 398 7718 
 Oriel Securities (NOMAD & Joint 
  Broker) 
  Jonathan Senior / Giles Balleny           +44 207 710 7617 
 SVS Securities plc (Joint Broker) 
  Alex Brearley                             +44 203 700 0100

-Ends-

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCNKODNDBDBFKB

Medgenics(Regs) (LSE:MEDG)
Historical Stock Chart
From May 2024 to Jun 2024