Medgenics(Regs) (LSE:MEDG)
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Medgenics (AIM:MEDG), the US-incorporated biopharmaceutical company, is
pleased to announce that it has appointed Dr. Ehud Shoshani, former CEO
of Quintiles, Israel, as its Vice President of Clinical Affairs. Dr.
Shoshani will manage the Company’s Phase I/II
clinical trials with EPODURE, its lead sustained-action protein therapy
to treat anaemia, which is scheduled to start mid-2008 pending approval
by the Israel Ministry of Health (MoH).
Dr. Shoshani’s 13 years’
experience in managing clinical trials includes his former position as
Chief Executive Officer, Medical Director and Head of Clinical
Operations of the Israel division of Quintiles, the international
contract research organization. In addition, he has served as Medical
Director at Omrix Biopharmaceutical, a blood products company
(NASDAQ:OMRI), and at Gamida Cell, a stem cell therapy company.
Dr. Shoshani was awarded his MD in 1978 from the Technion Medical School
in Haifa, Israel, and spent the next 16 years specializing in
paediatrics, paediatric oncology and haematology before entering
industry.
Dr. Andrew Pearlman, Medgenics’ CEO, said:
“We are extremely pleased that Dr. Shoshani
has joined the team at this important juncture for the Company. Building
on the successful base of our previous Phase I trial, Dr. Shoshani’s
extensive experience in managing clinical trials will be highly valuable
to Medgenics in completing the preparations, the launch and the
management of our imminent Phase I/II clinical trial for EPODURE. We
look forward to benefiting from the breadth and depth of his clinical
development experience, in the development of our future clinical
programmes for this and our other pipeline products.”
Dr. Ehud Shoshani said:
“Medgenics’
biopump technology is a highly innovative approach to treating chronic
diseases and the preclinical and clinical data generated to date are, in
my view, very compelling. This gives me confidence that the forthcoming
trials with EPODURE will be successful, and will pave the way for future
trials to confirm the clinical value of this and other biopump-based
protein therapies for improving patient treatment by increasing efficacy
and safety, reducing side effects and eliminating frequent injections.”
NOTES TO EDITORS:
About Medgenics
Medgenics, Inc. is a 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.
Medgenics currently has two products in development based on this
technology:
EPODURE – producing erythropoietin (EPO) to
treat anaemia
INFRADURE – producing interferon-alpha (IFN-?)
to treat hepatitis C
The Company has demonstrated proof of principle of the Biopump treatment
procedure in a clinical trial using a short-acting version of EPODURE in
anaemic patients. A long-acting version of EPODURE, designed to produce
and deliver a therapeutic dose of EPO steadily for six months or more,
is scheduled to enter Phase I/II trials in mid-2008. The Company plans
to follow with clinical trials of INFRADURE in 2009.
Medgenics intends to develop its innovative products and bring them to
market via multiple strategic partnerships with major pharmaceutical
and/or medical device companies, starting with EPODURE and INFRADURE.
Beyond these, 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 areas include multiple sclerosis (interferon-?),
haemophilia (Factor XIII), paediatric growth hormone deficiency (human
growth hormone) and diabetes (insulin).
Founded in 2000, Medgenics is a US-incorporated company with major
operations in Misgav, Israel. Medgenics was admitted to AIM in December
2007 (AIM:MEDG).
www.medgenics.com
CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements, which include all
statements other than statements of historical fact, including (without
limitation) those regarding the Company’s
financial position, business strategy, plans and objectives of
management for future operations. These statements relate to future
events, prospects, developments and strategies. 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.