Medgenics Comments on Market Trading Activity
April 26 2012 - 1:43PM
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 announces that the NYSE Amex contacted the Company
and, in accordance with its usual practice, requested that the
Company issue a press release regarding the increased activity in
the trading of its common stock. Medgenics states that as a matter
of policy, the Company does not comment on unusual market activity
or rumors.
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, 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:
- EPODURETM 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 in a Phase I/II
dose-ranging trial, and is about to commence a Phase IIa
safety/efficacy trial in dialysis patients in Q2 2012 in Israel. An
IND has been filed with the U.S. Food and Drug Administration 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.
- INFRADURETM for sustained production
and delivery of interferon-alpha for use in the treatment of
hepatitis is awaiting final approval of two Phase I/II trials in
Israel in hepatitis C, slated to commence Q3 2012.
- HEMODURETM 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 StatementsThis 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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