Issue of Equity

 

TIDMMEDG 
 
RNS Number : 9504Q 
Medgenics Inc 
12 August 2010 
 

 
 
 
 
                                Medgenics, Inc. 
 
                         ('Medgenics' or the 'Company') 
 
                                Issue of equity 
 
 
 
The Company announces that on 6 August 2010 it entered into an agreement with 
The Nybor Group, Inc. to provide consultancy services and advice to the Company 
with regard to its future fund raising endeavours.  The consideration for such 
services was the issuance of 150,000 common shares of par value $0.0001 each in 
the Company ("New Common Shares") which have been issued and allotted 
conditional upon admission to trading on AIM.  Application will be made to the 
London Stock Exchange for the New Common Shares to be admitted to trading on AIM 
and admission is expected to commence on 18 August 2010." 
 
 
For further information, please contact: 
 
Andrew Pearlman                                               [phone] 
CEO 
Medgenics, Inc 
 
Mike Wort / Anna Dunphy                                   [phone] 
De Facto Communications 
 
James Pinner / Derek Crowhurst                         [phone] 
Religare Capital Markets (Nomad) 
 
Ian Callaway / Alex Mattey                                 [phone] 
SVS Securities plc (Joint Broker) 
 
Jonathan Senior                                                 [phone] 
Nomura Code (Joint Broker) 
 
 
Notes to Editors: 
About Medgenics: 
Medgenics is a commercial -stage biopharmaceutical Company developing its unique 
tissue-based Biopump platform technology to provide sustained-action protein 
therapy for the treatment of a range of chronic diseases. The first revenue 
generating commercial deal with a well known multinational pharmaceutical 
company was negotiated in late 2009 and we look forward to generating additional 
deals to further commercialise the Biopump platform technology. 
Biopumps are made using needle biopsies taken from the lower layer of the 
patient's skin under local anaesthetic, and processed during 10-14 days to 
become 30 mm long tissue biofactories producing the required protein.  The 
requisite number of Biopumps are injected under the patient's skin to provide 
sustained protein production and delivery for many months. The Company is 
developing the Biopump to provide substantially greater safety and reliability 
in protein treatment in a more cost effective manner than experienced with the 
existing injected protein therapies.  Medgenics currently has three products in 
development based on this technology and addressing the indications of: 
 
 - Anaemia - using EPODURE, a Biopump producing erythropoietin (EPO) 
- Hepatitis-C - using INFRADURE - a Biopump producing interferon-alpha (IFN-a) 
- Haemophilia - using a Biopump to produce clotting Factor VIII 
The Company's Phase I/II clinical trial using EPODURE to treat anaemia in 
patients with chronic kidney disease, has demonstrated proof of concept of the 
Biopump. Designed to produce and deliver a therapeutic dose of EPO steadily for 
six months or more, EPODURE Biopumps have already provided effective anaemia 
treatment in most of these patients for 6-12 months, even at the low 
administered dose. 
Medgenics intends to develop its innovative products and bring them to market 
via multiple strategic partnerships with major pharmaceutical and/or medical 
device companies. In addition to treatments for Anaemia, Hepatitis-C, and 
Haemophilia, 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 US $87 billion by 2010. Other potential 
applications of Biopumps producing various proteins include multiple sclerosis, 
arthritis, pediatric growth hormone deficiency, obesity, and diabetes. 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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