Medgenics(Regs) (LSE:MEDG)
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Medgenics (AIM:MEDG), the US-incorporated biopharmaceutical company
developing the ‘biopump’
sustained-action protein therapy for the treatment of chronic diseases,
has completed its move to a new facility on the Teradion Business Park
in Misgav, Israel. The new facility brings together Medgenics’
corporate operations with larger R&D laboratories on one site.
At the same time, the Company has more than doubled its scientific and
engineering staff from four at Admission to ten now, in accordance with
its plan and preparation for the Phase I/II clinical trial for EPODURE:
its lead product in development to deliver a sustained therapeutic dose
of erythropoietin (EPO) for the long-term treatment of anaemia. Subject
to regulatory approval, EPODURE is on schedule to begin Phase I/II
clinical trials in mid 2008 and preliminary data are anticipated from
these trials within 3–5 months of trial
commencement.
Dr. Andrew Pearlman, Medgenics’ CEO, said:
“Medgenics is really gearing up for the start
of our Phase I/II clinical trial with EPODURE as a potential new therapy
for anaemia, which is due to begin mid year. The new additions to the
development team for EPODURE are in keeping with our plan and schedule
as we advance toward this important trial. The move brings the whole
Company together under one roof for the first time, which will be
important in enhancing communication between the various departments as
we move forward into this exciting period for the Company.”
Medgenics’ new mailing address is:
Teradion Business Park
PO Box 14
Misgav, 20179, ISRAEL
Tel: +972-4-902-8900
Fax: +972-4-999-0114
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.