Medgenics Announces Participation in Roth Conference and Other Matters
March 13 2012 - 2:00AM
Business Wire
Medgenics, Inc. (NYSE Amex: MDGN and AIM: MEDU, MEDG),
the developer of a novel technology for the sustained production
and delivery of therapeutic proteins in patients using their own
tissue, today announced that Andrew L. Pearlman, Ph.D., President
and Chief Executive Officer of the Company, will deliver a
corporate overview at the 24th Annual Roth Conference taking place
March 11-14th at the Ritz Carlton in Dana Point, California. Dr.
Pearlman will deliver his presentation on March 14th at 10:30 a.m.
Pacific time.
The presentation will be webcast live and archived online at the
Investors section of the Company’s website at www.medgenics.com and
at http://wsw.com/webcast/roth26/mdgn/.
The Company also reported that, consistent with its prior
financial statements, its audited financial statements for the
fiscal year ended December 31, 2011 included in the Company’s
Annual Report on Form 10-K filed with the Securities and Exchange
Commission on March 6, 2012 contained a going concern qualification
from its independent registered public accounting firm, Kost Forer
Gabbay & Kasierer, a member of Ernst & Young Global. This
announcement is in compliance with the NYSE Amex Company Guide
Section 610(b), which requires separate disclosure of receipt of an
audit opinion containing a going concern qualification. Medgenics
continues as a development stage company, pursuing the development
and commercialization of its Biopump™ Platform Technology, having
expended $6.0 million on research and development during fiscal
2011. This announcement does not represent any change or amendment
to the Company’s consolidated financial statements or to its Annual
Report on Form 10-K for the fiscal year ended December 31, 2011.
Further information regarding the going concern qualification is
contained in Medgenics’ Annual Report on Form 10-K for the year
ended December 31, 2011.
About Medgenics
Medgenics is developing and commercializing Biopump™, 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 C and hemophilia. 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 (now completing a Phase I/II
dose-ranging trial) to produce and deliver erythropoietin for many
months from a single administration, has demonstrated elevation and
stabilization of hemoglobin levels in anemic patients for six to
more than 36 months;
- INFRADURE (planning to commence a Phase
I/II trial in Israel in 1H12 in hepatitis C) to produce a sustained
therapeutic dose of interferon-alpha for use in the treatment of
hepatitis;
- HEMODURE is a sustained Factor VIII
therapy for the prophylactic treatment of hemophilia, now in
development.
Medgenics intends to develop its innovative products and 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.
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